3 Top Energy Stocks That Pay High Dividends By StockNews
© Reuters. 3 Top Energy Stocks That Pay High Dividends
Investors are focusing on high-dividend stocks as a stable source of income amid the near-zero interest rate environment. As such, with the energy sector rebounding rapidly, we think betting on high dividend paying energy stocks China Petroleum & Chemical (NYSE:), Kinder Morgan (NYSE:), and Energy Transfer (NYSE:) could be rewarding.Energy stocks are gaining traction amid the fast-paced economic recovery as oil prices hover near two-year highs owing to a resumption of industrial activities globally and continued supply cuts by the world’s major oil producing countries. Renewed investor interest in this industry is evident in the S&P Oil & Gas Exploration & Production Select Industry Index’s 64.3% gains year-to-date, versus the broader S&P 500 index’s 13.1% returns over this period.
Bullish market trends in the energy industry should allow participants to generate substantial cash flows, which, in turn, should help them maintain their high dividend payouts. Because the Fed has signaled that the interest rates will remain at near zero level until late 2023, we think it could be wise to bet high dividend paying energy stocks for a steady stream of income.
China Petroleum & Chemical Corporation (SNP), Kinder Morgan, Inc. (KMI), and Energy Transfer LP (ET) have solid growth prospects and they pay high dividends. So, we think they are attractive bets now.
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