2 ‘Strong Buy’ Dividend Stocks Yielding at Least 8%

The sell-off is showing no signs of letting up, as the NASDAQ tumbled another 2.84% today, the S&P 500 has fallen 2.11%, and the Dow has shed just over 1.5%. It’s a rout, with the indexes testing new lows and moving deeper into the bear territory.

The fall comes as investors are shifting sentiment on the Federal Reserve’s anti-inflationary moves. They are not exactly disapproving – but they are reconciling to the idea that we’re in for a hard landing, and that the Fed’s projected 4.6% peak interest rate simply won’t be enough to tame 8%+ inflation. The Fed has been moving aggressively, with five rate hikes so far this year, and the last three of those have been at 75 basis points each. But it’s looking like more will be needed – and according to billionaire investor Stanley Druckenmiller, that’s likely to tip the economy into a deep recession.

Druckenmiller, who is well known for his role in the execution of George Soros’ famous ‘breaking’ of the Bank of England in 1992, when he bet $10 billion against Sterling and won, is expecting a US economic recession next year.

“I will be stunned if we don’t have recession in ’23. I don’t know the timing but certainly by the end of ’23. I will not be surprised if it’s not larger than the so-called average garden variety… You don’t even need to talk about black swans to be worried here,” Druckenmiller noted.

For plenty of investors, days like this will prompt a move into defensive stocks, and few stocks are more defensive than high-yielding dividend payers.

With this in mind, we’ve opened up the TipRanks database to find details on two dividend stocks that are yielding 8% or better, rates high enough to provide some protection against inflation. Here they are, presented with commentary from the Street’s analysts.

Energy Transfer LP (ET)

We’ll start in the energy industry, a sector that is rarely short of cash for distribution. Energy Transfer is a midstream company in the North American market, and one of the continent’s largest such companies, at that. ET claims some 120,000 total miles of…


Read More

Recommended For You

Leave a Reply

Your email address will not be published.