2 Convincing dividend-paying stocks with a yield of at least 8%; Oppenheimer says buy
The crises of the past year, the COVID pandemic, social lockdowns, the economic shock are on the wane, and that’s good. However, the postmortem crisis is unfolding. It’s natural to compare the current economic crisis to the great recession of 12 years ago, but as John Stoltzfus, chief investment strategist at Oppenheimers points out, considering the differences in what caused the great financial crisis in just over 12 years ago and from the current crisis, it is no wonder that, as good as things are compared to this time of last year, there is still a lot to be revealed about how the exit and legacy of pandemic crisis will take shape Stoltzfus also believes that economic data, while suffering some setbacks, is generally resilient. The markets are on the rise and this, as Stoltzfus says, in our view presents more opportunities than risks for investors who have an appropriate tolerance for risk and are patient. Taking into consideration the outlook for Stoltzfus, we wanted to take a closer look at two stocks that were applauded by Oppenheimer’s stock analysts. Using the TipRanks database, we learned that the two share one profile: a Strong Buy consensus rating from the body of Streets analysts and a reliable dividend of at least 8%. Let’s see what Oppenheimer has to say about them. Owl Rock Capital (ORCC) Start with Owl Rock Capital, one of the myriad of finance companies specializing in the financial industry. These firms typically inhabit the middle market financial sector, where they make capital available for acquisitions, recapitalizations and general operations to medium-sized firms that do not necessarily have access to other sources of credit. Owl Rocks’ portfolio includes investments in 119 companies, totaling $ 11.3 billion. Of these investments, 96% are senior secured loans. Owl Rock released its 4Q20 and full year results at the end of February. The company reported fourth quarter net income of $ 180.7 million, or 46 cents per share. That figure was 36 cents per share in 4Q19, an increase of 27%. Investment income also increased to $ 221.3 million for the quarter, up 9% year over year. Investment income for the full year was $ 803.3 million, up more than 11% from 2019. In addition, the company ended 2019 with more than $ 27 billion of assets under management. Of particular interest to dividend investors, the board of Owl Rocks declared a dividend of 31 percent per common share for the first quarter. This is payable in mid-May and matches the company’s previous regular dividend payments. The annualized rate of $ 1.24 yields a return of 9%. Also interesting for the Owl Rocks dividend, the company paid the sixth and final special dividend linked to the launch of the IPO in 2019 last December. In 2019, ORCC paid special dividends of 80 cents, as well as regular dividend payments. The company has maintained its reliable dividend, meeting regular and special payments, since its IPO in the summer of 2019. Owl Rock has caught the attention of naysayers Mitchel Penn, who sees the company as a solid investment with potential to exceed estimates. “We estimate EPS at $ 1.22 and $ 1.34 in 2021 and 2022 for an ROE of 8% and 9%, respectively. We expect Owl Rock can achieve an ROE of 8.5%, and given an estimated cost of equity of 8.5%, we calculate a fair value of $ 15 / share or 1.02x book value, “Penn noted.” To achieve an ROE of 8.5%, ORCC will need to either increase the return on his portfolio from 8.4% to 9.0%, ie increasing his leverage from 1x to 1.2x. It is also possible that he does a little of both. Our model takes into account the fees. fee increase from a 75 basis point flat rate to a base commission of 1.5% on assets and an incentive commission of 17.5% on income. ”Penn attributes to this security an outperformance (this is i.e. a buy), and its price target of $ 15 suggests a potential upside of 7% from current levels. The dividend yield, however, is the real draw here (to watch Penns’ balance sheet, click here.) ORCC stocks have attracted 3 recent reviews, and all of them are buyable, which is the consensus of the Strong consensus rating. Buy. This stock is selling for $ 13.98 per share and has an average price target of $ 14.71. (See ORCC stock market analysis on TipRanks) Fidus Investment Corporation (FDUS) Sticking to the middle market financial sector, take a look at Fidus Investment. This company, like Owl Rock, provides access to capital for small businesses, including access to debt management solutions. Fidus has a portfolio that is based primarily on senior secured debt, as well as mezzanine debt. The company in which Fidus has invested is valued between 10 and 150 million dollars. In the fourth quarter, ending 2020, Fidus invested in seven new companies in its portfolio, investing a total of $ 103.9 million in the investments. The company’s portfolio for this quarter generated adjusted net investment income of $ 10.7 million, or 25 cents per common share. This was up 3 cents, or 13%, year over year. For the full year 2020, adjusted net income reached $ 38 million, compared to $ 35.3 million in 2019. Per share, 2020s $ 1.55 was up 7.6% in year-over-year. Fidus shares have risen steadily over the past year. Since last April, the title has gained an impressive 153%. This gives FDUS strong stock appreciation, to complement the dividend yields. These dividends are substantial. The company reported its 1Q21 payment in February and paid it on March 26. The regular payout, at 31 cents per common share, pays 8% with an annualized payout of $ 1.24. In addition to this regular payment, Fidus also declared a special dividend of 7 cents per share, almost double the special payment of 4 cents made in the previous quarter. Turning now to Oppenheimer’s coverage on Fidus, we see that 5-star analyst Chris Kotowski is happy with this company, enough to give it an outperformance (i.e. buy) with a price target. $ 18. This figure suggests an increase of 15% over one year. (To see the history of Kotowskis, click here) [are] stable with investments in debt at the end of the year essentially stable and interest income in line with the previous quarter and our estimates. What we’re most happy about is that we ended the year with just one small non-accrual accounting. There was a significant loss during the year on one credit, which crystallized in 4Q20, but there were also gains on equities in 1Q20 that offset that, and in our mind, the fact that we ended a year like this with minimal net losses valid for UDFs. business model. From Fidus’ dividend policy, maintaining a base payout with special dividends added where possible, Kotowski simply writes: We think a variable dividend makes sense. Like ORCC above, this is a stock with a unanimous Strong Buy consensus rating based on 3 recent positive reviews. Fidus shares are selling for $ 15.70 and their average price target of $ 17.17 indicates upside potential of 9% from that level. (See FDUS Stock Analysis on TipRanks) To find great ideas for dividend stocks traded at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that brings together all the information about TipRanks stocks. 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.
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