5 Growing Dividend Stocks with Low PE Ratios

In this article, we discuss 16 growing dividend stocks with low P/E ratios. If you want to read our detailed analysis of dividend stocks and their performance, go directly to read 16 Growing Dividend Stocks with Low PE Ratios. 

5. Diamondback Energy, Inc. (NASDAQ:FANG)

5-Year Average Annual Revenue Growth Rate: 37.25%
Forward P/E Ratio as of August 11: 8.49

Diamondback Energy, Inc. (NASDAQ:FANG) is a Texas-based energy company that is engaged in the exploration of hydrocarbon. On August 1, the company announced a 5% hike in its quarterly dividend to $0.84 per share. The company has a strong history of paying and raising its dividends. As of August 11, the stock has a dividend yield of 4.60%.

In the past five years, Diamondback Energy, Inc. (NASDAQ:FANG)’s revenue has grown at an annual average rate of 37.25%. The stock has a forward P/E ratio of 8.49, as of August 11.

At the end of March 2023, 45 hedge funds in Insider Monkey’s database reported having stakes in Diamondback Energy, Inc. (NASDAQ:FANG), worth collectively $1.1 billion.

4. International Seaways, Inc. (NYSE:INSW)

5-Year Average Annual Revenue Growth Rate: 37.40%
Forward P/E Ratio as of August 11: 4.30

International Seaways, Inc. (NYSE:INSW) is an American company that is primarily engaged in the transportation and shipping of crude oil and petroleum products. The company operates a fleet of tankers that transport these commodities on a global scale.

International Seaways, Inc. (NYSE:INSW) currently pays a quarterly dividend of $0.12 per share and has a dividend yield of 1.06%, as of August 11. In the past five years, its revenue has grown at an annual average rate of 37.40% and has a forward P/E multiple of 4.30x.

As of the close of Q1 2023, 35 hedge funds owned stakes in International Seaways, Inc. (NYSE:INSW), up from 30 in the previous quarter, as per Insider Monkey’s database. These stakes are worth collectively over $203.4 million.

3. VICI Properties Inc. (NYSE:VICI)

5-Year Average Annual Revenue Growth Rate: 39.20%
Forward P/E Ratio as of August 11: 12.20

VICI Properties Inc. (NYSE:VICI) is an American real estate investment trust company that specializes in casino properties. The company initiated its dividend policy in 2018 and has raised its payout every year since then, which makes it one of the best dividend stocks on our list. It currently pays a quarterly dividend of $0.39 per share and has a dividend yield of 5.05%, as of August 11.

In the second quarter of 2023, VICI Properties Inc. (NYSE:VICI)’s revenue showed a 35.6% year-over-year growth at $898 million. The company’s sales in the past five years also remained stable, growing at an annual average rate of 39.20%.

At the end of Q1 2023, 39 hedge funds in Insider Monkey’s database reported having stakes in VICI Properties Inc. (NYSE:VICI), worth collectively over $901 million.

2. Northern Oil and Gas, Inc. (NYSE:NOG)

5-Year Average Annual Revenue Growth Rate: 59.9%
Forward P/E Ratio as of August 11: 6.46

Northern Oil and Gas, Inc. (NYSE:NOG) is a Minnesota-based independent energy company. In the past five years, the company’s revenue has grown by nearly 60% and its forward P/E ratio on August 11 came in at 6.46.

Northern Oil and Gas, Inc. (NYSE:NOG) is one of the best dividend stocks on our list as it has raised its dividends for consecutive 10 quarters. It currently pays a quarterly dividend of $0.38 per share and has a dividend yield of 3.6%, as recorded on August 11.

As of the close of Q1 2023, 20 hedge funds in Insider Monkey’s database owned stakes in Northern Oil and Gas, Inc. (NYSE:NOG), compared with 25 a quarter earlier. These stakes have a collective value of over $275.8 million. With over 3 million shares, Angelo Gordon & Co was the company’s leading stakeholder in Q1.

1. Innovative Industrial Properties, Inc. (NYSE:IIPR)

5-Year Average Annual Revenue Growth Rate: 96.94%
Forward P/E Ratio as of August 11: 13.8

Innovative Industrial Properties, Inc. (NYSE:IIPR) is an American real estate investment trust company that focuses on the medical cannabis industry. The company’s main business is acquiring and managing properties that are used for cultivating and processing medical cannabis.

Innovative Industrial Properties, Inc. (NYSE:IIPR) is one of the best dividend stocks on our list as it has raised its dividends each year since 2017. It currently pays a quarterly dividend of $1.80 per share and has a dividend yield of 8.75%, as recorded on August 11.

Of the 943 hedge funds in Insider Monkey’s database at the end of Q1 2023, 15 hedge funds held stakes in Innovative Industrial Properties, Inc. (NYSE:IIPR), up from 14 in the previous quarter. The collective value of these stakes is over $195 million.

You can also take a look at Top 12 Undervalued Tech Stocks According to Analysts and 10 Metals Stocks with Insider Buying

Follow Insider Monkey on Twitter