In this article, we will take a look at the top 5 dividend aristocrats according to analysts. To read our analysis of recent market trends, and dividend stocks, you can go to Dividend Aristocrats Ranked: Top 15 According to Analysts.
5. NextEra Energy, Inc. (NYSE:NEE)
Number of Hedge Fund Holders: 61
Target Price as of April 10: $94.85
Upside Potential as of April 10: 20.94%
Juno Beach, Florida-based NextEra Energy, Inc. (NYSE:NEE) is a leading electric power and energy infrastructure company with operations in US and Canada. It has two major business segments: FPL, the largest electric utility company in Florida focused on generation, transmission and distribution of electricity to more than 5.8 million customer accounts with 28.5 GW of net generating capacity; and NEER, one of the largest wholesale generators of electric power in the US with 24.1 GW of net generating capacity.
NextEra Energy, Inc. (NYSE:NEE) has steadily grown dividends over the course of its history. The latest increase came in February 2023, with a 10% increase in regular quarterly dividends to $0.4675 per share. The company intends to further increase its dividends by 10% annually, compared to its 2022 dividend, at least through 2024.
On March 28, Erste Group analyst Stephan Lingnau upgraded the rating for NextEra Energy, Inc. (NYSE:NEE) shares to ‘Buy’ from ‘Hold’.
4. Stanley Black & Decker, Inc. (NYSE:SWK)
Number of Hedge Fund Holders: 25
Target Price as of April 10: $95.33
Upside Potential as of April 10: 23.05%
New Britain, Connecticut-based Stanley Black & Decker, Inc. (NYSE:SWK) is a leading provider of hand tools, power tools, outdoor products, and related accessories, as well as engineered fastening solutions and attachment tools for infrastructure applications.
On February 2, Stanley Black & Decker, Inc. (NYSE:SWK) released its financial results for Q4 2022. Following the earnings release, analysts at Credit Suisse, Deutsche Bank, and Barclays raised their price targets for Stanley Black & Decker, Inc. (NYSE:SWK) to $95, $99, and $110, respectively. Inventory reduction, cost savings and improved margins were cited to be the major reasons for the upgrade.
3. Chubb Limited (NYSE:CB)
Number of Hedge Fund Holders: 45
Target Price as of April 10: $245.39
Upside Potential as of April 10: 25.18%
Chubb Limited (NYSE:CB) is the world’s largest publicly traded property and casualty insurance company with operations in 54 countries and territories. It provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance.
On April 12, Barclays analyst Tracy Benguigui increased the price target on Chubb Limited (NYSE:CB) shares to $256 from $255 and maintained an ‘Overweight’ rating on the shares. The analyst expects specialty insurers to outpace standard insurers in Q1 2023 by benefiting from the turmoil in the markets.
2. Archer Daniels Midland Company (NYSE:ADM)
Number of Hedge Fund Holders: 40
Target Price as of April 10: $101.57
Upside Potential as of April 10: 26.88%
Founded in 1902, Archer Daniels Midland Company (NYSE:ADM), commonly known as ADM, is a major player in the food industry, with a diverse portfolio of products including oils, sweeteners, starches, proteins, and feed ingredients. The company engages in every aspect of the food and feed production process, from sourcing and processing raw materials to delivering finished products to customers. ADM is also involved in global commodity trading of crops like corn, soybeans, and wheat.
On April 14, BMO Capital reinstated coverage of Archer Daniels Midland Company (NYSE:ADM) with a price target of $100 and an ‘Outperform’ rating for the shares.
1. Albemarle Corporation (NYSE:ALB)
Number of Hedge Fund Holders: 46
Target Price as of April 10: $306.96
Upside Potential as of April 10: 53.62%
Charlotte, North Carolina-based Albemarle Corporation (NYSE:ALB) is a leading global developer, manufacturer, and marketer of highly engineered specialty chemicals. It manages and reports its operations under three segments: Lithium, Bromine, and Catalysts, and serves nearly 1,900 customers across 70 countries worldwide.
On March 17, Loop Capital raised the price target for Albemarle Corporation (NYSE:ALB) shares to $403 from $397 and kept a ‘Buy’ rating for the shares. Albemarle Corporation (NYSE:ALB) shares have the highest upside potential on our list, based on the average analyst price target of $306.96 and the closing price of its shares on April 10.
You may also like to read 10 Best Artificial Intelligence Stocks Under $20 According To Analysts and UK Dividend Aristocrats List: 2023 Rankings by Yield
