In this article, we discuss the 5 best income stocks to buy right now. If you want our detailed analysis of income-generating stocks, go directly to the 11 Best Income Stocks To Buy Right Now.
5. Universal Health Realty Income Trust (NYSE:UHT)
Dividend Yield: 4.79%
Number of Hedge Fund Holders: 9
Number of Years of Consistent Dividend Growth: 36
Universal Health Realty Income Trust (NYSE:UHT) is an REIT that focuses on healthcare facilities such as acute care hospitals, rehabilitation centers, medical office buildings, childcare centers, and freespace emergency clinics. Universal Health Realty Income Trust (NYSE:UHT) was established in 1986, and has 72 investment properties across 20 states in the US. Universal Health Realty Income Trust (NYSE:UHT) is one of the top income stocks to buy now.
On September 8, Universal Health Realty Income Trust (NYSE:UHT) announced a dividend of $0.70 per share to shareholders as of September 20, payable on September 30. The REIT has had 36 years of consistent dividend growth, with a current dividend yield of 4.79%.
At the end of June, 9 hedge funds were bullish on Universal Health Realty Income Trust (NYSE:UHT), up from 4 in the previous quarter.
4. AbbVie Inc. (NYSE:ABBV)
Dividend Yield: 4.83%
Number of Hedge Fund Holders: 82
Number of Years of Consistent Dividend Growth: 49
AbbVie Inc. (NYSE:ABBV) is an American biopharmaceutical company that was established in 2013. AbbVie Inc. (NYSE:ABBV) is engaged in medical research and development, and produces drugs for diseases to help patients with oncology, immunology, and virology related health issues, among others. AbbVie Inc. (NYSE:ABBV) is one of the best income stocks according to our research.
At the end of June, 82 hedge funds reported owning stakes in AbbVie Inc. (NYSE:ABBV), up from 72 in the previous quarter.
On October 29, AbbVie Inc. (NYSE:ABBV) announced earnings for Q3. The EPS was $3.33, exceeding estimated EPS by $0.11. The revenue for AbbVie Inc. (NYSE:ABBV) was $14.34 billion, beating estimates by $43.38 million.
Morgan Stanley analyst David Risinger kept an Overweight rating on AbbVie Inc. (NYSE:ABBV), raising the price target from $116 to $124 on November 1, owing to a strong Q3 performance.
3. International Business Machines Corporation (NYSE:IBM)
Dividend Yield: 5.21%
Number of Hedge Fund Holders: 41
Number of Years of Consistent Dividend Growth: 26
International Business Machines Corporation (NYSE:IBM) is an American multinational technology corporation that operates in more than 171 countries.
At the end of the second quarter, 41 hedge funds were bullish on International Business Machines Corporation (NYSE:IBM), similar to the previous quarter.
Dan Knauff from Credit Suisse issued an Outperform rating on International Business Machines Corporation (NYSE:IBM) on October 28, with a $172 price target.
2. Exxon Mobil Corporation (NYSE:XOM)
Dividend Yield: 5.43%
Number of Hedge Fund Holders: 68
Number of Years of Consistent Dividend Growth: 38
Exxon Mobil Corporation (NYSE:XOM) is an American multinational oil and gas corporation, with its headquarters in Texas. The company was formed when Exxon and Mobil merged, in 1999. It is one of the leading Big Oil companies, specializing in crude oil, oil products, natural gas, petrochemicals, and power generation. Exxon Mobil Corporation (NYSE:XOM) is traded as a S&P 100 Component, and is one of the best income stocks to buy right now.
Exxon Mobil Corporation (NYSE:XOM) is a popular income stock among the hedge funds. Out of the 873 hedge funds tracked by Insider Monkey, 68 funds were long Exxon Mobil Corporation (NYSE:XOM) at the end of Q2, up from 65 in the first quarter.
Here is what First Eagle Investment Management has to say about Exxon Mobil Corporation (NYSE:XOM) in its Q2 2021 investor letter:
“Leading contributors in the First Eagle Global Fund this quarter included Exxon Mobil Corporation. The continued recovery in oil prices as economies reopen helped fuel another strong performance across the energy complex, including shares of Exxon Mobil. Exxon Mobil recently lost a proxy fight with an activist investor that took three of the company’s 12 board seats. While the press was focused on the investor’s concerns over Exxon Mobil’s long term energy transformation strategy, other factors fundamental to shareholder returns—like capital discipline and balance sheet management—were also at play.”
1. Enbridge Inc. (NYSE:ENB)
Dividend Yield: 6.29%
Number of Hedge Fund Holders: 19
Number of Years of Consistent Dividend Growth: 25
Enbridge Inc. (NYSE:ENB) is a natural gas company that transports 20% of the natural gas and 25% of the crude oil that is consumed by North America, and is the third largest natural gas company in the region in terms of the number of customers. Currently, Enbridge Inc. (NYSE:ENB) is engaged in liquids pipelines, natural gas pipelines, gas distribution and storage, and renewable energy. Enbridge Inc. (NYSE:ENB) ranks first on our list of the best income stocks to buy now, with a yield of 6.29% and 25 years of consistent dividend growth.
At the end of Q2, 19 hedge funds monitored by Insider Monkey’s database of elite funds were long Enbridge Inc. (NYSE:ENB), down from 22 in Q1.
Here is what ClearBridge Investments has to say about Enbridge Inc. (NYSE:ENB) in its Q2 2021 investor letter:
“On a regional basis, the U.S. and Canada was the top contributor to quarterly performance, of which Canadian energy infrastructure company Enbridge was one of the lead performers. Enbridge owns and operates one of the largest oil and gas pipeline networks in North America. The company also owns regulated gas distribution utilities in Ontario, Canada. Enbridge’s Line 3 Replacement Project received a favorable court ruling regarding the adequacy of its Environmental Impact Statement. This significantly lowers the execution risk for the project and enables the company to place the project into service later in the year.”
You can also take a look at 10 Best Stocks Under $10 According to Billionaire Daniel Och’s OZ Management and 10 Monthly Dividend Covered Call ETFs and ETNs You Can Count On.
