Below are the dividend stocks that were subject to analyst moves before the bell. Analysts weigh in with insight and commentary as to what you can expect going forward.
1. Chevron Upgraded by Societe Generale
Integrated oil and gas supplier Chevron (CVX ) saw its stock upgraded on Tuesday with Societe Generale confirming a Buy rating. No target price was supplied. Finishing Tuesday’s session at $100.04 (up 0.8%), Chevron’s adjusted dividend yield is 4.28% with an annual payout of $4.28 (paid quarterly). The stock is 25.95% from its 52-week high.
2. Mark West Energy Upgraded by Jeffries
Oil and gas explorer Mark West Energy Partners (MWE) was upgraded pre-market on Wednesday with Jeffries raising their target price to $68.00 and their rating to Buy. Finishing Tuesday’s session at $62.33 (up 0.3%), Mark West’s adjusted dividend yield is 5.84% with an annual payout of $3.64 (paid quarterly). The stock is 22.85% from its 52-week high.
3. Factset Research Systems Upgraded by BTIG
Information and delivery services provider Factset Research Systems (FDS ) saw its stock upgraded pre-market on Wednesday with BTIG adding the stock to their Neutral list. Finishing Tuesday’s session at $161.74 (up 2.3%), Factset’s adjusted dividend yield is 1.09% with an annual payout of $1.76 (paid quarterly). The stock is 4.13% from its 52-week high.
4. Energen Downgraded by Citi
Gas utilities company Energen (EGN) saw its stock downgraded on Wednesday with the broker adding the stock to their Neutral list. No target price was provided. Energen announced pre-market that they would be launching a 5.7 million share stock offering. Finishing Tuesday’s session at $73.68 (down 0.4%), Energen’s adjusted dividend yield is 0.11% with an annual payout of $0.08 (paid quarterly). The stock is 18.73% from its 52-week high.
5. Agrium Downgraded by CLSA
Agricultural chemicals supplier Agrium (AGU) saw its stock downgraded pre-market on Wednesday with CLSA changing its rating to Underperform with a target price of $110.00. The market recently reiterated pricing concerns. Finishing Tuesday’s session at $104.00 (down 0.2%), Agrium’s adjusted dividend yield is 3.37% with an annual payout of $3.50 (paid quarterly). The stock is 10.97% from its 52-week high.
6. Axis Capital Downgraded by BMO Capital
Property and casualty insurance provider Axis Capital Holdings (AXS ) saw its stock downgraded on Wednesday with BMO Capital adding a Market Perform rating and a new target price of $59.00. Bermuda based PartnerRe recently sent a letter to shareholders advising them to accept the proposed merger with Axis Capital Holdings. Finishing Tuesday’s session at $57.66 (up 4.2%), Axis Capital’s adjusted dividend yield is 2.01% with an annual payout of $1.16 (paid quarterly). The stock is 2.90% from its 52-week high.
