As we enter November with talk of crude oil above $80 a barrel and supply chain disruptions threatening to upend holiday shopping trends, there are plenty of reasons to be wary of the typical stocks on Wall Street in the near term. But if you’re a long-term investor, there are still plenty of opportunities out there.
Specifically, the following five stocks have all enjoyed double-digit share appreciation over the last 30 days along with a current dividend yield of more than 3%. When you compare these factors against a volatile S&P 500 index that yields just 1.3% on average at present, these top dividend stocks for November stand out:
— EnLink Midstream LLC (ticker: ENLC)
— Hewlett Packard Enterprise Co. (HPE)
— Phillips 66 (PSX)
— Unum Group (UNM)
— WesBanco Inc. (WSBC)
EnLink Midstream LLC (ENLC)
A midstream energy stock doing business primarily in Texas, Oklahoma and Louisiana, ENLC focuses on transportation and storage of natural gas and natural gas liquids through a network of 11,900 miles of pipelines and almost 30 processing facilities and fractionators that separate the raw fossil fuels into usable parts. Energy demand has been on the rise in 2021 thanks to a recovering U.S. economy now that the worst of the pandemic has passed, and that means more gas moving through ENLC facilities. Admittedly, the stock is still well off its 2017 highs and its dividend remains significantly below pre-pandemic levels. But the 9.4 cent quarterly payday adds up to a generous yield at current share prices — and the stock seems to have stabilized, surging threefold from its 52-week low.
Dividend yield: 4.7%
Hewlett Packard Enterprise Co. (HPE)
Back in 2014, consumer electronics giant Hewlett Packard restructured itself into two businesses — HP Inc. ( HPQ), which took over the laptops and desktop printing business, and the software and services focused HPE that was meant to cater to businesses. HPE is decidedly the more interesting of the two in a mobile age due to its long-term service contracts with businesses. While business isn’t necessarily booming from a top-line perspective, this enterprise-oriented tech firm is doing quite well when it comes to profitability. Specifically, HPE is set to see its earnings surge more than 42% from $1.35 last fiscal year to an estimated $1.93 a share in fiscal 2021. And with a highly sustainable dividend of just 12 cents a quarter or 48 cents annually, the income stream from HPE is secure and likely to grow over time if profits keep edging higher.
Dividend yield: 3.2%
Phillips 66 (PSX)
Oil refinery and petrochemical giant Phillips 66 is the refinery arm that spun off of parent company ConocoPhillips ( COP) back in 2012. Over the last decade, the company focused its operations on this specific corner of the energy market. While shares have been admittedly volatile from one month to the next in 2021, PSX seems to be on the upswing as we enter November and close out the year. That’s because refineries are the last part of the oil distribution chain, turning raw crude into usable products, and a big move higher in crude oil over recent months means the oil PSX bought a few months ago at bargain prices can be turned into very costly finished goods in the here and now. From a dividend perspective, Phillips 66 has a long history of boosting payouts with the recently announced bump from 90 to 92 cents a share marking its 10th consecutive year of increased dividends.
Dividend yield: 4.8%
Unum Group (UNM)
Though based in Tennessee, Unum is a global insurance provider that serves the U.S. as well as the U.K. and Europe under nameplates including Unum International, Colonial Life and Closed Block. Its offerings include disability, group life, supplemental insurance, dental and vision plans, and a host of other insurance products. Admittedly, this kind of business is never going to burn down the house with breakneck growth. However, Unum is a well-run company that delivers consistent performance for its shareholders. Unum is up about 20% year to date in 2021 and in July it boosted its quarterly dividend from 28.5 to 30 cents per share. You may not see your money double overnight in a stock like UNM, but long-term dividend investors could be well served by this $6 billion insurance operator.
Dividend yield: 4.5%
WesBanco Inc. (WSBC)
Regional banking stocks are direct beneficiaries of rising interest rates because they can command better returns on their loans to businesses and consumers. WesBanco Bank is cashing in on this general trend, along with boasting some specific improvements to its operations. For starters, earnings per share should skyrocket from $1.88 last fiscal year to $3.58 in fiscal 2021 if projections hold. And WSBC is deploying that cash with its shareholders in mind, including a plan to repurchase some 3.2 million shares of WesBanco common stock on the open market and a planned dividend increase in early 2021 that brings the quarterly payout to 33 cents per share and a yield of roughly three times the broader S&P 500 index.
Dividend yield: 3.8%
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