Buy Telstra and these ASX 200 dividend stocks

Analysts are saying good things about these income shares.

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If you're searching for new income options then it could be worth checking out these three ASX 200 dividend stocks listed below.

Here's why they could be in the buy zone right now:

Woman and man calculating a dividend yield.

Image source: Getty Images

Suncorp Group Ltd (ASX: SUN)

According to analysts at Goldman Sachs, this insurance giant could be a top option for income investors.

The broker currently has a buy rating and $15.00 price target on the company's shares.

It likes the company due to "the tailwinds that exist in the general insurance market." This includes "very strong renewal premium rate increases and the benefit of higher investment yields."

As for income, the broker is forecasting fully franked dividends per share of 75 cents in FY 2024, 82 cents in FY 2025, and 85 cents in FY 2026. Based on the current Suncorp share price of $14.43, this will mean yields of 5.2%, 5.7%, and 5.9%, respectively.

Telstra Corporation Ltd (ASX: TLS)

Goldman Sachs also thinks that telco giant Telstra could be an ASX 200 dividend stock to buy.

Its analysts currently have a buy rating and $4.55 price target on the company's shares.

Goldman remains positive on Telstra following the release of its half-year results this month. It continues to believe "the low risk earnings (and dividend) growth that Telstra is delivering across FY22-25, underpinned through its mobile business, is attractive."

It expects this to lead to Telstra paying fully franked dividends of 18 cents per share in FY 2024, 19 cents per share in FY 2025, and then 20 cents per share in FY 2026. Based on the current Telstra share price of $3.90, this equates to yields of 4.6%, 4.9%, and 5.1%, respectively.

Transurban Group (ASX: TCL)

Finally, the team at Citi thinks that Transurban could be an ASX 200 dividend stock to buy. It is a leading toll road developer and operator.

The broker has a buy rating and $15.60 price target on its shares.

Citi was pleased with the company's half-year results and continues to believe that Transurban's dividend guidance is "conservative" in FY 2024.

As a result, it is expecting a dividend ahead of guidance this year. It has pencilled in dividends per share of 63 cents in FY 2024, 65 cents in FY 2025, and 68 cents in FY 2026. Based on the current Transurban share price of $13.17, this will mean yields of 4.8%, 4.9%, and 5.15%, respectively.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Transurban Group. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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