Are you worried about the recent volatility in the market due to macroeconomic woes and geopolitical tensions? If so, you may want to consider investing in dividend-paying stocks, which can provide stability and a steady income stream. Wall Street analysts have identified three dividend stocks that are attractive options for investors looking to navigate turbulent times.
First on the list is Enterprise Products Partners (EPD), a midstream energy services provider that has a track record of increasing its cash distribution for 25 consecutive years. With a compound annual growth rate of 7%, EPD offers a dividend yield of 7.1%. Analysts at RBC Capital are bullish on EPD, citing the company’s organic growth projects in the Permian Basin and its strong balance sheet. They have reiterated a buy rating on the stock with a price target of $35.
Next up is Goldman Sachs (GS), one of the leading investment banks in the U.S. Following better-than-anticipated first-quarter results, analysts are optimistic about the bank’s outlook. Argus analyst Stephen Biggar upgraded his rating for GS to buy, citing the strength of the Goldman franchise during an investment banking upturn. With a dividend yield of 2.7%, GS is a solid choice for income-seeking investors.
Lastly, Cisco Systems (CSCO), a networking equipment maker, announced a 3% increase in its dividend in the second quarter of fiscal 2024. Bank of America Securities analyst Tal Liani upgraded CSCO to buy, highlighting three catalysts: AI-related tailwinds, growth in the security business, and synergies from the Splunk acquisition. Liani has increased the price target for CSCO to $60 from $55.
If you are looking for stability and income in today’s uncertain market environment, these three dividend stocks recommended by Wall Street’s top experts are worth considering. Stay tuned to Extreme Investor Network for more expert insights and investment opportunities to help you build a strong portfolio in any market conditions.
