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3 High-Yield Dividend Stocks I'd Buy Right Now With No Hesitation
Investing in some stocks can be somewhat nerve-racking. Your hand hovers over the keyboard as your mind goes back and forth on whether or not to actually press the “buy” button on your online brokerage’s website.
This can happen even with stocks that pay juicy dividends. Sometimes, the fact that the dividend yield is exceptionally high only increases the anxiety.
I’ve felt this kind of trepidation before, but not with some stocks. Here are three high-yield dividend stocks I’d buy right now with no hesitation.
Image source: Getty Images.
Technically, Brookfield Infrastructure is two stocks. For years, only Brookfield Infrastructure Partners (BIP +0.17%) was listed publicly. To attract investors who didn’t like the tax hassles associated with limited partnerships (LP), though, the company established Brookfield Infrastructure Corporation (BIPC 1.45%) in 2020.
Brookfield Infrastructure Partners (BIP) and Brookfield Infrastructure Corporation (BIPC) are the same business under the hood. They also both offer great dividends. BIP’s forward distribution yield is nearly 5%, while BIPC’s dividend yield tops 4.2%.
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NYSE: BIP
Brookfield Infrastructure Partners
Today’s Change
(0.17%) $0.06
Current Price
$36.47
Key Data Points
Market Cap
$17B
Day’s Range
$36.06 - $36.97
52wk Range
$25.72 - $40.32
Volume
1.7M
Avg Vol
765K
Gross Margin
26.94%
Dividend Yield
4.78%
I’m confident that Brookfield Infrastructure’s distribution is sustainable. The infrastructure stock has increased its distribution for 17 consecutive years. Brookfield Infrastructure targets average annual distribution growth between 5% and 9%, with a payout ratio of 60% to 70%.
Those goals seem quite attainable, thanks to the strength of Brookfield Infrastructure’s underlying business. The company’s diversified global infrastructure portfolio includes cell towers, data centers, electricity transmission lines, fiber optic cable, pipelines, rail, semiconductor foundries, toll roads, and more.
Enbridge (ENB 1.00%) is one of my favorite pipeline stocks. The company operates 18,085 miles of pipeline that transport 30% of the crude oil produced in North America. Its 70,273 miles of natural gas pipeline (including pipe owned by its DCP Midstream joint venture) transport around 20% of the natural gas consumed in the U.S.
But Enbridge is also a utility stock. The company ranks as the largest natural gas utility in North America by volume. It delivers roughly 9.3 billion cubic feet of natural gas per day to over 7 million customers.
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NYSE: ENB
Enbridge
Today’s Change
(-1.00%) $-0.54
Current Price
$53.53
Key Data Points
Market Cap
$117B
Day’s Range
$53.38 - $54.54
52wk Range
$39.73 - $54.70
Volume
317K
Avg Vol
5.1M
Gross Margin
32.74%
Dividend Yield
5.12%
Stability is the operative word for Enbridge. The company has increased its dividend for 31 consecutive years, with its dividend yield currently at 5.3%. It has also met or beaten financial guidance for 20 consecutive years. With this impressive track record, Enbridge is the kind of stock that you can buy and sleep well at night knowing that your investment should generate steady income.
As icing on the cake, Enbridge also offers growth potential. Management has identified around $50 billion in visible growth opportunities through the rest of this decade, with potential growth investments of $10 billion to $20 billion over the next 24 months.
Not all of my favorite high-yield dividend stocks are in the energy sector. Realty Income (O 2.70%) is a real estate investment trust (REIT) that owns over 15,500 properties in the U.S., U.K., and eight continental European countries.
Like Enbridge, Realty Income has been remarkably stable. Its property portfolio is highly diversified, with a focus on tenants in relatively low drama industries such as grocery stores, convenience stores, home improvement, and dollar stores. Its leases are structured to be long-term and shift costs, including property taxes, insurance, and maintenance, to tenants. This stability has enabled Realty Income to outperform the S&P 500 (SNPINDEX: ^GSPC) in 11 of the 13 drawdowns of 10% or more since 1994.
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NYSE: O
Realty Income
Today’s Change
(-2.70%) $-1.69
Current Price
$60.95
Key Data Points
Market Cap
$57B
Day’s Range
$60.63 - $62.60
52wk Range
$50.71 - $67.94
Volume
414K
Avg Vol
6.6M
Gross Margin
48.73%
Dividend Yield
5.30%
REIT stocks typically pay juicy dividends. Realty Income is no exception. Its forward dividend yield tops 5.1%. The company has increased its dividend for 31 consecutive years and 113 consecutive quarters. Even better, Realty Income pays its dividend monthly.
Adding to my warm-and-fuzzy feeling about this stock is its growth prospects. Realty Income has particularly attractive opportunities in Europe, where the total addressable market is larger than in the U.S., and there are few large competitors.