The high inflation (despite a slight moderation) and increasing interest rates could continue to pose challenges for investors. Further, market pundits believe a recession will hit the U.S. in 2023. Given the uncertainty, top dividend stocks like Enterprise Products Partners (NYSE:EPD), Agree Realty (NYSE:ADC), and EOG Resources (NYSE:EOG) appear attractive to generate steady income. These stocks are analysts’ favorites and have a solid payout history.
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Is EPD a Good Stock to Buy?
Enterprise Products Partners offers midstream energy services to natural gas and crude oil producers and refiners. Thanks to its geographically diversified customer and asset base, Enterprise Products Partners has consistently enhanced its shareholders’ returns through higher dividend payments.
EPD’s dividend has increased at a CAGR of 7% in the last 24 years. Meanwhile, benefits from its multibillion-dollar capital projects and financial stability will likely support its future payouts. EPD offers quarterly payouts and has a solid dividend yield of 7.79%.
Wall Street analysts favor EPD stock. Its stock carries a Strong Buy consensus rating based on 10 Buy and one Sell recommendations. Moreover, these analysts’ average price target of $31.36 implies 30.02% upside potential.
EPD stock also has positive indicators from hedge funds and insiders. Hedge Funds bought 419.8K EPD stock last quarter. Meanwhile, insiders bought EPD stock worth $456.6K. EPD Stock has a maximum Smart Score of “Perfect 10.” (Stay abreast of the best that TipRanks’ Smart Score has to offer.)
Is Agree Realty a Good Investment?
Analysts’ bullish outlook on Agree Realty stock indicates that it is a good investment, especially for income investors. ADC operates as a Real Estate Investment Trust (REIT) focusing on top retailers. Thanks to its high-quality tenant base and high occupancy rate, ADC delivers solid financials and has grown its dividend at a CAGR of 5.8% in the past decade.
Its solid balance sheet, low leverage, high occupancy (99.7% at the end of Q3), and long WALE (weighted average lease term) of 8.9 years will likely support its future payouts. Since January 2021, ADC has started paying a monthly dividend (earlier, it offered quarterly payouts) and is offering a dividend of approximately 4%.
ADC stock has received seven Buys and one Hold for a Strong Buy consensus rating. Moreover, analysts’ average price target of $75.19 implies 6.01% upside potential.
ADC stock has signals from insiders and hedge fund managers. Insiders bought ADC stock worth $864.8K in the last three months. Meanwhile, hedge funds bought 93.9K ADC stock. It has a maximum Smart Score of “Perfect 10.”
How Often Does EOG Pay Dividends?
EOG Resources is a leading oil and natural gas exploration and production company. It pays a quarterly dividend. Moreover, its dividend has increased at a CAGR of 22% since 1999. Its high-quality inventory, low-cost structure, and solid balance sheet position it well to drive future payouts.
EOG expects to bolster its shareholders’ returns through high dividend payments. Moreover, it sports a Strong Buy consensus rating based on 16 Buy and four Hold recommendations. Meanwhile, analysts’ average price target of $156.15 implies 20.56% upside potential.
Our data shows insiders sold $1.7M worth of EOG stock last quarter. However, hedge funds bought 1.1M EOG stock. EOG stock has a maximum Smart Score of “Perfect 10.”
Bottom Line
The strong dividend payment history of these companies, the Strong Buy consensus rating, and a maximum Smart Score make these stocks attractive for earning a steady income.
