Wisconsin Republican Derrick Van Orden joins 'Kennedy' to discuss his platform ahead of voting day.
Wisconsin Republican Derrick Van Orden joins 'Kennedy' to discuss his platform ahead of voting day.
The House will vote this week on the Holding Foreign Companies Accountable Act. Will it lead to the delisting of Alibaba stock and other China stocks?
The Dow Jones Industrial Average fell more than 350 points amid Moderna coronavirus vaccine news Monday. Tesla jumped to more all-time highs.
Dividend stocks are the Swiss army knives of the stock market.When dividend stocks go up, you make money. When they don’t go up — you still make money (from the dividend). Heck, even when a dividend stock goes down in price, it’s not all bad news, because the dividend yield (the absolute dividend amount, divided by the stock price) gets richer the more the stock falls in price.Knowing all this, wouldn’t you like to own find great dividend stocks? Of course you would. Raymond James analysts have chimed in – and they are recommending two high-yield dividend stocks for investors looking to find protection for their portfolio. These are stocks with a specific set of clear attributes: a dividend yield of 10% and Strong Buy ratings.Kimbell Royalty Partners (KRP)We’ll start with Kimbell Royalty Partners, a land investment company operating in some of the US’ major oil and gas producing regions: the Bakken of North Dakota, Pennsylvania’s Appalachian region, the Colorado Rockies, and several formations in Texas. Kimbell owns mineral rights in more than 13 million acres across these regions, and collects royalties from over 95,000 active wells. Over 40,000 of those wells are in the Permian Basin of Texas, the famous oil formation that has, in the past decade, helped turn the US from a net importer of hydrocarbons to a net exporter.The coronavirus crisis hit Kimbell directly in the pocketbook, knocking down share prices and earnings as economic restrictions, social lockdowns, and the economic downturn all struck at production and demand. The situation has only begun to revive, with the Q3 revenues growing 44% sequentially to reach $24.3 million.Kimbell has long been a reliable dividend payer, with a twist. Where most dividend stocks keep their payouts stable, typically making just adjustment in a year, Kimbell has a history of reevaluating its dividend payment every quarter. The result is a dividend that is rarely predictable – but is always affordable for the company. The last declaration, for the third quarter, was 19 cents per common share, or up 46% from the previous quarter. At that rate, the dividend yields ~10%,Covering the stock for Raymond James, analyst John Freeman noted, “Despite a strong quarterly performance and a nearly 50% distribution raise in 3Q, the market continues to under appreciate the unique value proposition of Kimbell's assets, in our view. Kimbell has a best-in-class 13% base decline, exposure to every major basin and commodity, as well as a very manageable leverage profile…”Regarding the possible anti-hydrocarbon stance of a Biden Administration, Freeman sees little reason for worry, saying, “Investors concerned about a potential Biden presidency (which appears increasingly likely) have little to fear in KRP. The company has less than ~2% of acreage on federal lands, meaning a frac ban on those properties would not have a material impact on KRP's business and might actually help them if it improved the overall supply impact."In line with these comments, Freeman rates KRP a Strong Buy, and his $9 price target implies it has room for 25% growth going forward. (To watch Freeman’s track record, click here)Wall Street appears to agree with Freeman, and the analyst consensus view is also a Strong Buy, based on 5 unanimous positive reviews. This stock is priced at $7.21, and its $11 average target is even more bullish than Freemans, suggesting a one-year upside of ~52%. (See KRP stock analysis on TipRanks)NexPoint Real Estate Finance (NREF)NexPoint inhabits the real estate trust niche, investing in mortgage loans on rental units, both single- and multi-family occupancy, along with self-storage units and office spaces. The company operates in the US, across major metropolitan hubs.NexPoint held its IPO in February this year, just before the coronavirus pandemic inspired an economic crisis. The offering saw 5 million shares sell, and brought in some $95 million in capital. Since then, the shares are down 13%. Earnings, however, have posted gains in each full quarter that the company has reported as a public entity, coming in at 37 cents per share in Q2 and 52 cents in Q3. The Q3 number was 30% above the forecast.The dividend here is also solid. NexPoint started out with a 22-cent per share payment in Q1, and raised it in Q2 to its current level of 40 cents per common share. This annualizes to $1.60, making the yield an impressive ~10%.Stephan Laws, 5-star analyst with Raymond James, is impressed with what he sees here. Laws writes of NexPoint, “Recent investments should drive significant core earnings growth, which is reflected in the increased 4Q guidance range of $0.49-0.53 per share (up from $0.46-0.50 per share). The guidance incorporates the full quarter impact of the new 3Q investments as well as new mezz investments made in October. We are increasing our 4Q and 2021 estimates, and we have increased confidence in our forecast for a 1Q21 dividend increase, which we now forecast at $0.45 per share…”Following these sentiments, Laws puts a Strong Buy rating on NREF. His $18 price target suggest the stock has a 9% upside potential for the year ahead. (To watch Laws’ track record, click here)With 2 recent Buy reviews, the analyst consensus on NREF shares is a Moderate Buy. The stock’s $18 average price target matches Laws’, implying 9% growth. (See NREF stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Zoom beats earnings expectations as the pandemic-driven service continues impressive performance.
It's been an impressive November for S&P 500 stocks. And the month served up another reminder of the power in picking top stocks.
The stock market fell Monday but the Nasdaq slashed losses as Apple awoke, Moderna soared and AMD broke out. Zoom Video fell late despite strong earnings. Tesla got an S&P 500 update.
Think carefully about your choice so you can actually pay off your student debt.
President-elect Joe Biden announced Monday that he will nominate Janet Yellen, a former chairman of the Federal Reserve Bank, to be his Secretary of the Treasury.
Adding Elon Musk's Tesla to Wall Street's most followed benchmark will force index funds to buy about $73 billion worth of its shares, S&P Dow Jones Indices said. The electric car maker's stock has surged over 40% since Nov. 16, when it was announced Tesla would join the index. At that time, S&P Dow Jones Indices said it would consult investors about whether to potentially add Tesla in two tranches a week apart to make the addition easier to handle for index funds.
Cannabis stocks continued their postelection rise from the ashes Monday, ahead of votes this week regarding decriminalization in the U.S. House of Representatives and the United Nations.
Nikola scrapped plans to build the Badger electric pickup truck in a drastically scaled-down partnership deal with GM.
Nikola and GM revise the terms of their previous headline-grabbing deal.
(Bloomberg) -- Exxon Mobil Corp. plans to write down the value of U.S. and South American natural gas assets by as much as $20 billion, the largest impairment in its modern history, and is slashing long-term capital spending.The company said Monday it will take a non-cash impairment charge for the current quarter after removing some gas fields from its development plan. Capital spending won’t exceed $25 billion a year through 2025, a $10 billion reduction from the company’s pre-pandemic target.The announcement comes in the waning days of a grueling year for the Texas oil giant, which has reversed course on many ambitious growth projects as the Covid-19 outbreak decimated demand for crude. Spending and job cuts are in large part aimed at defending the company’s dividend, the third-highest in the S&P 500 Index.Unlike its European peers, Exxon has so far chosen to stick with the $15 billion-a-year payout and has increased borrowing in recent months to fund it and its other capital priorities. The dividend has been increased each year for almost four decades.Optimism that vaccines will soon restore global economic growth buoyed crude prices in recent weeks but the impact of the contagion on Big Oil is likely to be longlasting. With European giants Royal Dutch Shell Plc and BP Plc accelerating the pivot to renewables and Exxon locking in drastic spending cuts, capital flows into big, traditional developments are expected to shrink in coming years.Cowen & Co. analyst Jason Gabelman detected a subtle shift in Exxon’s word choices that may herald a dramatic change in financial priorities. Whereas company executives touted Exxon’s “reliable and growing dividend” during the third-quarter earnings conference call, Monday’s statement only mentioned reliability, the analyst said in a note to clients. ‘High-Grading’“Continued emphasis on high-grading the asset base -- through exploration, divestment and prioritization of advantaged development opportunities -- will improve earnings power and cash generation, and rebuild balance sheet capacity,” Chief Executive Officer Darren Woods said in the statement.Exxon has been warning shareholders since October that its gas assets were at risk of significant impairment. Previously, the energy titan’s largest writedown was for about $3.4 billion in 2016, according to Bloomberg Intelligence.Assets removed from Exxon’s development plans include so-called dry gas resources in Appalachiaand and the Rocky Mountains, Oklahoma, Texas, Louisiana and Arkansas, as well as western Canada and Argentina, the company said. It will attempt to sell “less strategic” assets.The writedown stems from former CEO Rex Tillerson’s decision a decade ago to buy XTO Energy for $35 billion rather than spend years building an in-house shale business. At the time, the outlook for North American gas prices was bright because demand was rising faster than supply.Supply GlutInstead, fracking was a victim of its own success, unleashing so much gas that it overwhelmed demand and the infrastructure needed to handle it, resulting in a prolonged stretch of depressed prices.U.S. rival Chevron Corp. recorded an impairment of more than $5 billion on Appalachian gas a year ago, and recently agreed to sell those fields to EQT Corp. for about $735 million.(Updates with chart under third paragraph. A previous version of this story corrected the tense in the first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of Kandi Technologies Group Inc. hit hard Monday, after Hindenburg Research took a swipe at the China-based electric vehicle and battery packs maker by alleging "fake sales" to undisclosed affiliates of the company.
Advanced Micro Devices Inc.'s stock rallied toward new highs Monday after the company's chief executive said she expects continued growth in the PC market after a pandemic boom and a better-than-seasonal first quarter in 2021 for the chip maker.
Novavax is making a play for a coronavirus vaccine, vs. giants like Pfizer, and other rivals like Moderna. But NVAX stock has been volatile. Is Novavax a buy?
The so-called “universal charitable deduction” allows non-itemizers to claim a tax break of up to $300 when they file their taxes in 2021. Charitable donations are tax deductible, but taxpayers can only claim the deduction on their federal income taxes if they’re itemize the expenses that are eligible for deductions. Along with charitable donations, these expenses include medical expenses, mortgage interest and state and local taxes (up to $10,000).
S&P Dow Jones Indices said it will add Tesla to its benchmark S&P 500 index in a single tranche on Dec. 21, despite concerns over the potential for trading volatility as funds shuffle their holdings to add the stock to their portfolios. S&P said Tesla will be added to the index on the date of the index's quarterly rebalancing. Tesla "will be one of the largest weight additions to the S&P 500 in the last decade, and consequently will generate one of the largest funding trades in S&P 500 history," S&P Dow Jones Indices said in a statement earlier this month announcing the addition.
Among the Dow Jones stocks, Apple and Microsoft are among the top stocks to buy and watch in November 2020.
Gold bulls remain under intense pressure at the first trading session of the week in London.