In this article TGT NOG DRI Follow your favorite stocks CREATE FREE ACCOUNT The Target Corp. flagship store in Edina, Minnesota, US, on Thursday, Sept. 5, 2024.
Ben Brewer | Bloomberg | Getty Images The Federal Reserve recently cut interest rates by 50 basis points, setting a favorable backdrop for dividend-paying stocks. Wall Street analysts' recommendations and in-depth analysis can help investors choose dividend stocks that can enhance total returns with passive income and stock price appreciation. Here are three dividend stocks , highlighted by Wall Street's top pros on TipRanks, a platform that ranks analysts based on their past performance.
Northern Oil and Gas This week's first dividend stock is Northern Oil and Gas ( NOG ), a non-operated, upstream energy asset owner. It acquires minority interests in assets across multiple basins operated by leading operators. In August, NOG announced a dividend of 42 cents per share, payable on Oct.
31. This dividend marked an 11% year-over-year increase. NOG offers a dividend yield of 4.
8%. Recently, Mizuho analyst William Janela initiated a buy rating on NOG stock with a price target of $47. He thinks that the combination of NOG's extensive scale, diversification and a growing shift toward co-purchase deals has "created a unique business model, preserving the benefits of non-operatorship while mitigating some of the typical drawbacks.
" Janela also highlighted other advantages like higher cash operating margins and a solid M&A trac.
