Investors always seek stability in their portfolios, especially during volatile times in the stock market. One way to achieve this stability is through dividend-paying stocks. One such stock that stands out among Wall Street analysts is Western Midstream Partners (WES). This company, which owns and operates midstream assets in several states, has caught the attention of many investors due to its high dividend yield of 8.8%. Mizuho analyst Gabriel Moreen recently increased his price target for WES to $45 from $39, citing the stock’s impressive performance so far in 2024. His positive outlook on WES is driven by the company’s continued distribution hikes and strong financial position. Moreen’s track record on TipRanks speaks for itself, ranking him at No. 90 among more than 8,900 analysts with profitable ratings 81% of the time.
Another energy player that investors should consider is Diamondback Energy (FANG). Focused on onshore oil and natural gas reserves in the Permian Basin, FANG has shown resilience in the face of market challenges. The company’s proposed acquisition of Endeavor Energy is expected to bolster its position in the Permian Basin even further. RBC Capital analyst Scott Hanold reaffirmed his buy rating on FANG stock ahead of its second-quarter results, setting a price target of $220. Hanold’s optimistic view on FANG is supported by expectations of improved production and shareholder returns. With a solid track record on TipRanks, ranking at No. 11 among analysts, Hanold has been profitable 70% of the time with an average return of 27.6%.
Known for its iconic beverages, Coca-Cola (KO) has also caught the eye of investors seeking reliable dividend stocks. With a quarterly dividend increase and strong second-quarter results, KO is positioned for growth in the coming year. RBC Capital analyst Nik Modi raised his price target for Coca-Cola stock to $68 from $65 following the company’s upbeat performance. Modi highlighted KO’s global volume growth and improved margins, showcasing the company’s resilience in the face of market challenges. Despite concerns about the low-income consumer group and market slowdowns, Modi remains bullish on Coca-Cola’s ability to deliver strong returns. With a successful track record on TipRanks, ranking at No. 858 among analysts, Modi has been profitable 57% of the time with an average return of 6.1%.
Dividend-paying stocks offer investors a way to maintain stability in their portfolios during uncertain times. By analyzing the recommendations of top Wall Street analysts, investors can identify attractive opportunities such as Western Midstream Partners, Diamondback Energy, and Coca-Cola. These companies not only offer high dividend yields but also demonstrate strong financial performance and growth potential. As investors navigate the volatility of the stock market, dividend stocks may prove to be a resilient and profitable choice for long-term wealth building.