In this article, we take a look at 5 stocks with over 15 years of dividend hikes. If you want to see our detailed analysis of these stocks, you can go directly to 10 Stocks with Over 15 Years of Dividend Hikes.
5. Essex Property Trust Inc (NYSE:ESS)
Number of Hedge Fund Holders: 21
Number of Years of Dividend Increases: 27
Dividend Yield: 2.51%
Essex Property Trust Inc (NYSE:ESS) is an S&P 500 company and a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets.
JPMorgan analyst Anthony Paolone upgraded Essex Property Trust Inc (NYSE:ESS) to Overweight from Neutral with a $359 price target.
For the second quarter of 2021, Essex Property Trust Inc (NYSE:ESS) generated revenues of $348.76 million. The stock has gained 11.94% over the past six months and 44.61% year to date.
By the end of the second quarter of 2021, 21 hedge funds held stakes in Essex Property Trust Inc (NYSE:ESS) worth $281 million, up from $196.8 million in the first quarter with 30 positions.
4. Atmos Energy Corporation (NYSE:ATO)
Number of Hedge Fund Holders: 18
Number of Years of Dividend Increases: 26
Dividend Yield: 2.69%
Atmos Energy Corporation (NYSE:ATO), together with its subsidiaries, engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States. The company operates through two segments, Distribution, and Pipeline & Storage. Atmos Energy Corporation (NYSE:ATO) was founded in 1906 and is headquartered in Dallas, Texas.
This September, Mizuho analyst Gabriel Moreen raised the price target on Atmos Energy Corporation (NYSE:ATO) to $110 from $109 and held a Buy rating on the shares.
3. People’s United Financial, Inc. (NASDAQ:PBCT)
Number of Hedge Fund Holders: 24
Number of Years of Dividend Increases: 28
Dividend Yield: 4.12%
During the second quarter of 2021, Compass Point analyst David Rochester raised his price target on People’s United Financial, Inc. (NASDAQ:PBCT) to $19.50 from $18.50 and reiterated a Neutral rating on the shares. The analyst remains positive on bank stocks post the first-quarter reporting season.
People’s United Financial, Inc. (NASDAQ:PBCT) has a forward PE ratio of 12.95. The stock has gained 2.36% over the past six months, and 38.07% year to date. As of the second quarter of 2021, People’s United Financial, Inc. (NASDAQ:PBCT) reported earnings per share of $0.41, beating estimates by $0.08. The company generated revenues of $479.9 million for the same quarter.
2. International Business Machines Corp. (NYSE:IBM)
Number of Hedge Fund Holders: 41
Number of Years of Dividend Increases: 26
Dividend Yield: 4.54%
This October, Credit Suisse analyst Matthew Cabral raised his price target on International Business Machines Corp. (NYSE:IBM) to $176 from $167 and reiterated an Outperform rating on the shares after the company hosted an investor briefing outlining its hybrid cloud strategy, business plan and target financial model post the expected spinoff of its MIS business.
By the end of the second quarter of 2021, 41 hedge funds out of the elite 873 funds tracked by Insider Monkey held stakes in International Business Machines Corp. (NYSE:IBM).
1. Chevron Corporation (NYSE:CVX)
Number of Hedge Fund Holders: 50
Number of Years of Dividend Increases: 34
Dividend Yield: 4.89%
By the end of the second quarter of 2021, 50 hedge funds held stakes in Chevron Corporation (NYSE:CVX) worth $4.27 billion. This is compared to 41 positions in the previous quarter, with a total stake value of $4.86 billion.
This October, Truist analyst Neal Dingmann raised his price target on Chevron Corporation (NYSE:CVX) to $150 from $145 and reiterated a Buy rating on the shares as part of a broader research note on Exploration and Production names in the Energy sector. The analyst is increasing his oil price deck estimates by over 6% for the fourth quarter of the 2021 to 2023 period and natural gas prices by over 34%.
ClearBridge Investments, an investment management firm, published its “Large Cap Value Strategy” first quarter 2021 investor letter. The firm shared its stance on whether or not Chevron Corporation (NYSE:CVX) is a good stock to invest in. Here’s what they had to say:
“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names, (including) Chevron. We are positive on the company’s strong balance sheets, competitive positions and exposure to an economic recovery.”
You can also take a look at 10 Best Dividend Stocks for Long Term and 10 Best High Dividend Stocks to Buy.
