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. Ares Capital Upgraded by Keefe Bruyette & Woods
Diversified investment company Ares Capital (ARCC ) saw its stock upgraded on Friday with Keefe Bruyette & Woods confirming an Outperform rating and a new price target of $17.80. Finishing Thursday’s session at $16.59 (up 3.5%), Ares Capital’s adjusted dividend yield is 8.92% with an annual payout of $1.48 (paid quarterly). The stock is 7.42% from its 52-week high.
2. Pinnacle West Capital Upgraded by UBS
Electrical utilities provider Pinnacle West Capital (PNW ) was upgraded on Thursday with UBS raising their target price to $63.00 and their rating to Buy. Pinnacle announced during the day that their next dividend would be paid on September 1. Finishing Thursday’s session at $58.06 (up 1.3%), PNW’s adjusted dividend yield is 4.10% with an annual payout of $2.38 (paid quarterly). The stock is 20.80% from its 52-week high.
3. Genuine Parts Upgraded by Argus
Auto parts wholesaler Genuine Parts (GPC ) saw its stock upgraded on Thursday with Argus adding the stock to their Buy list. The new price target is $104.00. This cames after Wedbush upgraded the stock citing potential capital allocation for M&A and stock buybacks. Finishing Thursday’s session at $92.63 (up 1.6%), Genuine Parts’ adjusted dividend yield is 2.66% with an annual payout of $2.46 (paid quarterly). The stock is 15.02% from its 52-week high.
4. Deutsche Bank Upgraded by Exane BNP Paribas
Banking group Deutsche Bank (DB ) saw its stock upgraded pre-market on Friday with Exane BNP Paribas changing its rating to Neutral. Posting a 93% rise in net profit from its Indian operations on Thursday, the company is currently facing rigging allegations from global regulators. Finishing Thursday’s session at $31.14 (down 0.1%), Deutsche Bank’s adjusted dividend yield is 2.41% with an annual payout of $0.75 (paid quarterly). The stock is 18.95% from its 52-week high.
5. BP Downgraded by RBC Capital
Oil and gas producer BP Plc (BP ) saw its stock downgraded pre-market Friday with RBC Capital adding the stock to their Sector Perform list. No target price was provided. BP has come under valuation scrutiny recently with a number of analysts citing over-valuation based on the current oil price. Finishing Thursday’s session at $41.26 (up 0.12%), BP’s adjusted dividend yield is 5.77% with an annual payout of $2.38 (paid quarterly). The stock is 22.85% from its 52-week high.
6. Public Storage Downgraded by Cantor Fitzgerald
Industrial REIT Public Storage (PSA ) saw its stock downgraded on Friday with Cantor Fitzgerald adding a Hold. Finishing Thursday’s session at $192.46 (up 1.9%), Public Storage’s adjusted dividend yield is 3.53% with an annual payout of $6.80 (paid quarterly). The stock is 6.99% from its 52-week high.
