Streetbeat News

Dividends

ENIC

OPAL

SPH

TAC

Benzinga Insights has identified five value stocks in the utilities sector based on their low P/E ratios, indicating potential undervaluation. The stocks are Suburban Propane Partners (SPH), OPAL Fuels (OPAL), TransAlta (TAC), Hawaiian Electric Industries (HE), and Enel Chile (ENIC). The article provides recent financial metrics for these companies, including changes in earnings per share (EPS) and dividend yields.

Portfolio Pulse from Benzinga Insights

January 10, 2024 | 2:38 pm

JPM

JPMorgan Chase & Co. (JPM) is anticipated to release its Q4 earnings on Jan. 12, 2023, with expected earnings of $3.40 per share on revenue of $39.77 billion. Deutsche Bank analyst Matt O'Connor upgraded JPM from Hold to Buy and increased the price target from $140 to $190. CEO Jamie Dimon remains opposed to cryptocurrencies. JPMorgan's current dividend yield is 2.46%, with a quarterly dividend of $1.05 per share. To earn $500 a month in dividends, an investor would need to own 1,429 shares, valued at approximately $243,873. JPM shares fell 0.8% to close at $170.66 on Tuesday.

Portfolio Pulse from Avi Kapoor

January 10, 2024 | 1:15 pm

EOG

PSX

VLO

Analysts with high accuracy rates have provided updates on three energy stocks with over 3% dividend yields: Phillips 66 (PSX), EOG Resources (EOG), and Valero Energy Corporation (VLO). PSX is in talks to sell non-core assets, EOG indicates U.S. oil and gas production growth may slow, and VLO reported a Q3 revenue decline but still saw a price target increase from one analyst.

Portfolio Pulse from Avi Kapoor

January 10, 2024 | 12:35 pm

LEN

Lennar Corp (NYSE:LEN) has increased its annual dividend from $1.50 to $2.00 per share, resulting in a quarterly dividend of $0.50 for both Class A and Class B stock, payable on February 7, 2024. Additionally, the Board authorized an expansion of the stock buyback program, allowing for an additional $5 billion in repurchases of Class A or B stock. The company's strong balance sheet and cash position have enabled these shareholder returns. In Q4 2023, Lennar repurchased 3 million shares for $337 million. As of November 30, 2023, Lennar had $6.3 billion in cash and equivalents.

Portfolio Pulse from Shivani Kumaresan

January 10, 2024 | 10:42 am

LEN

Lennar Corporation's Board of Directors has increased the company's annual dividend from $1.50 to $2.00 per share. This increment leads to a quarterly cash dividend of $0.50 per share.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:32 pm

EPM

Evolution Petroleum Corporation (NYSE:EPM) has announced the acquisition of non-operated oil and gas assets in Oklahoma from Red Sky Resources and Coriolis Energy Partners for $43.5 million. The assets include approximately 1,550 BOEPD production, 230 producing wells, and 3,700 net acres with over 300 undeveloped locations. The acquisition is expected to be highly accretive to key valuation metrics and self-funding, generating incremental cash flow to support the company's dividend. The transaction will be funded with cash and borrowings from EPM's credit facility, with net debt remaining within targeted leverage post-transaction.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:24 pm

AVB

DOC

MAA

MPW

PEAK

REXR

SITC

STAG

Several REITs experienced downgrades at the start of 2024 despite positive developments in late 2023. Stag Industrial, Rexford Industrial Realty, Medical Properties Trust, Physicians Realty Trust, Mid-America Apartment Communities, AvalonBay Communities, and SITE Centers Corp. all received downgrades from various analysts. These downgrades come after a period of significant share price increases for the REIT sector. Key events include lease renewals, acquisitions, dispositions, and dividend increases, but concerns seem to focus on the sustainability of recent price appreciations.

Portfolio Pulse from Ethan Roberts

January 09, 2024 | 7:02 pm

LKFN

Lakeland Financial has announced an increase in its quarterly dividend from $0.46 to $0.48 per share.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 7:02 pm

ACI

Albertsons Companies Inc (NYSE:ACI) reported a 2.2% increase in Q3 FY23 sales to $18.56 billion, surpassing analyst estimates. Identical sales rose by 2.9%, with pharmacy sales contributing significantly. Digital sales jumped by 21%. However, gross margin rate fell slightly to 28%, and operating income dropped by 2.8% to $566.1 million. Adjusted EBITDA was down 4.4% Y/Y, but adjusted EPS of $0.79 beat estimates of $0.65. The company announced a Q4 dividend of $0.12 per share, payable on February 9, 2024. ACI shares traded down by 0.52% at $22.87.

Portfolio Pulse from Shivani Kumaresan

January 09, 2024 | 4:33 pm

SNX

TD SYNNEX Corporation (NYSE:SNX) reported Q4 FY23 revenue of $14.407 billion, an 11.3% decrease year-over-year, missing consensus estimates. The decline was attributed to reduced demand for PC ecosystem products post-pandemic. Adjusted EPS of $3.13 beat the $2.68 consensus. The company announced a 14% increase in its quarterly dividend to $0.40 per share. For Q1 2024, TD SYNNEX forecasts adjusted EPS of $2.60-$3.10 and revenue of $14 billion-$14.7 billion, both below estimates. Shares fell by 1.43% to $103.44.

Portfolio Pulse from Nabaparna Bhattacharya

January 09, 2024 | 3:55 pm