5 'Strong Buy' Dividend Stocks for August! Top Stocks for Solid Passive Income

Hey everyone, it is Julie here with Tip Ranks and today we're taking a look at five strong by dividend stocks for August. So, let's get into it. All right, guys. Welcome back. Thank you all so much for being here. The month of August has arrived and that means it's time to take a look at some top dividend stocks for the month ahead. All of today's stocks have an X dividend date in the month of August. And that means if you own the stock before that date, you're eligible for that next dividend payment. We're going to take a look at these companies, what it is that they do, what dividend they pay, and of course, how Wall Street analysts weigh in. I found these companies today on the Tip Ranks dividend calendar. Found underneath the tools menu or under the dividend menu. Here you can go week by week or day by day to see what companies have an upcoming X dividend. You can follow along with today's stocks on the Tip Ranks website or right on the Tip Ranks mobile app. And if you enjoy the video, make sure you hit that thumbs up button and that you're subscribed to the channel. Now, let's dive right in. First up, we're taking a look at IDARP. They trade under the ticker IDA, currently priced at $143 per share, having gained 13% overall this past year. though they are down slightly 2 and a.5% in the last 3 months. IDORP is the parent company of Idaho Power, a regulated electric utility serving southern Idaho and Eastern Oregon. It's riding a wave of population and industrial growth in the region, including major customers like Micron and Meta, expanding their operations there. Idacorp began paying a dividend back in 1998 and has steadily raised it for years. Their current quarterly dividend is 88 cents per share for a dividend yield of 2.45% with an X dividend date on August 5th for a payment on August 31st. They did come out with some mixed results for their latest quarterly earnings which came out last week on July 30th. Earnings per share grew about 10% year-over-year, coming in at $1.79, beating expectations by 2 cents per share. While revenue of $469 million did miss expectations by about 42 million with five current analyst ratings, the IDARP stock does come in as a strong buy with four buys and one hold. And the average price target of $159 implies an upside potential of nearly 11%. Looking at those ratings down below, they range from an upside of 8% to over 13 1.5%. Now, our second stock on the list is one that I have been mentioning for years, but it's always worth highlighting, especially when talking about dividend stocks. We're looking at Energy Transfer. They trade under the ticker ET, currently priced just above $20 per share. The stock has gained 14.45% over the past year and is up slightly at 1.4% in the last 3 months. Energy Transfer is one of the largest mid-stream energy companies in the US. They own and operate a massive network of pipelines and terminals that move natural gas, natural gas liquids, crude oil, and refined products across the US. Think of it as the toll road operator of American energy. Energy Transfer has the highest dividend yield of the bunch today and targets a 3 to 5% annual growth rate. Their current quarterly dividend of 34 cents gives us a dividend yield of 6.56% with an X dividend date of August 7th for payment on August 19th. Their next earnings report actually comes out tomorrow on August 4th and does follow a relatively strong Q1 report back in May. While earnings per share did fall 5 cents short from expectations, revenue of 27.7 billion came in with an over $2 billion beat and year-over-year revenue growth of 32%. The company saw adjusted EBIDA of approximately 4.9 billion, growing nearly 20% and they raised their adjusted EBIDA guidance to approximately 18.2 to 18.6 billion. Their stock currently has 16 analyst ratings, coming in as a strong buy with 14 buys and two holds. And the average price target of over $24 per share implies an upside potential of 20%. Looking at those recent ratings down below, on the low end, we have a hold with an upside of 8 1.5% quite a few in the mid- teens and then our high-end price target with an upside of 67%. Third on the list today is Matador Resources. They trade under the ticker MTDR, currently priced above $49 per share. The stock is up about 4.7% in the past year, but has been under pressure lately, dropping over 21% in the last 3 months. Matador Resources is an independent oil and gas producer, focused on the Delaware Basin, which is part of the Perian. What sets Matador apart is that it doesn't just drill wells. It also owns Midstream infrastructure through its San Mateo joint venture, handling pipelines and water systems for its own production and for other producers in the area. That gives them a second stream of cash flow beyond just pumping oil and gas. Now, they just began paying out their dividend several years ago, but in that short time, they've made some sizable increases to it. Their current quarterly dividend sits at 37 1.5 cents per share. That is up from 20 cents just two years ago in 2024 and 10 cents in 2022 and gives us a dividend yield of 2.88% and a really reasonable payout ratio at 38%. Their X dividend date is August 10th for payment on September 8th. Matador is also scheduled to report earnings this week on August 5th and this does follow their Q1 back in May where management said that this was one of the more challenging macro environments in company history. They noted volatile oil prices and a chaotic macro backdrop which has led to a conservative measured capital deployment posture rather than aggressive growth. During the quarter though they did see production being up and stated that their debt has been reduced and that the balance sheet was the strongest in company history. And despite the recent drop in stock price, analysts do still weigh in with an overall strong buy consensus with 11 buys and three holds. and the average price target of over $69 implies an upside potential of 41%. Looking at those ratings down below, the recent ones range from an upside of 9.5% all the way up to 88%. We do have a bit of an energy theme here today. For our fourth stock, we're taking a look at Black Hills. Trading under the ticker BKH, they're currently priced just above $71 per share, having climbed nearly 21% in the past year, dropping about 5% in the last 3 months. Black Hills is a regulated electric and natural gas utility company, serving customers across eight states in the Rocky Mountain and Midwest regions, places like Colorado, South Dakota, Wyoming, and Montana. It's a classic boring in a good way utility and it's also in the middle of merging with Northwestern Energy to become an even bigger regional player. Black Hills is a standout in our group today as they are a dividend king, meaning they have been consistently paying and increasing their dividend for 50 consecutive years. Their current quarterly dividend is about 70 cents per share for a dividend yield of 3.87%. Their X dividend date is August 17th for payment on September 1st. This is yet another company reporting earnings later this week on August 5th, and it does follow a mixed quarter back in May. Unusually warm winter weather did hurt their results last quarter, knocking their earnings per share below last year's level, but revenue did come in with a slight beat at 11.5 million for a total of 780 million. The company did reaffirm their fullear guidance for the year and they've got over 3 gawatts of data center demand in their pipeline. And while they do just have four current analyst ratings, the stock does come in as a unanimous strong buy with an average price target of $86.25 for an upside potential of 21%. Those ratings range from an upside of 19.5% to just over 22%. And last but not least, we have Brookfield Infrastructure. They trade under the ticker BIP, currently priced above $40 per share. Their stock has climbed 32% in the past year and is up 16% in the last 3 months. Brookfield Infrastructure owns and operates essential infrastructure all over the world. Utilities, railroads, toll roads, ports, natural gas pipelines, and increasingly data centers and AI infrastructure. It's part of the Brookfield family, one of the largest alternative asset managers on the planet. And the whole strategy here is buying assets that generate steady contracted cash flow no matter what the economy. And they have a long history of increasing their dividend payout targeting 5 to9% annual growth. Their current quarterly dividend is 45 1.5 cents per share for a dividend yield of 4.24%. Their X dividend date is right at the end of the month on August 31st for payment on September 29th. They just shared their latest quarterly earnings report on July 29th, and we did have some mixed results. The company reported their funds from operations or FFO rising 10% year-over-year to $72 million. They said they secured or deployed over 800 million into new investments in the first half and that their AI strategy is gaining traction. They were selected by the US DOE to develop an AI data center campus. Low lights, however, did include that their net income declined to 44 million from 69 million a year ago, primarily due to higher depreciation and financing costs. And while the stock did drop a bit following that earnings support, we have had several analysts increase their price targets. And with five current ratings, the stock comes in as a strong buy with four buys and one hold. The average price target of $46.80 implies an upside potential of over 15%. Looking at those price targets down below, they range from a pretty flat price target here with an upside of 1% to a high-end price target with an upside of 40%. So, that is a quick look at five strong buy stocks, all with X dividend dates in the month of August. Let me know your thoughts on these companies and which other dividend stocks you've been watching lately. I always appreciate hearing from you guys. Of course, please keep in mind these videos are never a suggestion to buy or sell any specific stock. So, please always do your own research and due diligence. Thanks so much for watching. Have a fantastic day and I'll see you back here next time.