There are plenty of ASX 200 dividend stocks to choose from, but which ones could be in the buy zone?
Three that analysts have recently named as buys are listed below. Here's what they are saying about them:
Deterra Royalties Ltd (ASX: DRR)
Morgan Stanley thinks that Deterra Royalties could be an ASX 200 dividend stock to buy.
It is a mining royalty company with a range of operations, including its cornerstone asset Mining Area C in the Pilbara region of Western Australia.
The broker is feeling positive about the company's outlook thanks to favourable commodity prices. So much so, it is one of its favourites in the mining sector right now.
It also believes Deterra Royalties is well-positioned to pay some big dividends in the near future. It is forecasting fully franked dividends per share of 32.7 cents in FY 2024 and 39 cents in FY 2025. Based on the current Deterra Royalties share price of $4.84, this will mean dividend yields of 6.75% and 8%, respectively.
Morgan Stanley has an overweight rating and $5.60 price target on its shares.
Inghams Group Ltd (ASX: ING)
Over at Morgans, its analysts think that Inghams could be an ASX 200 dividend stock to buy this week. It is Australia's leading poultry producer and supplier.
The broker likes the company due to its market leadership position, favourable consumer trends, and attractive valuation. In fact, in respect to the latter, the broker feels that Ingham's shares are actually "undervalued" at current levels.
Morgans is also expecting some generous dividend yields in the near term. Its analysts are forecasting fully franked dividends of 22 cents per share in FY 2024 and then 23 cents per share in FY 2025. Based on the current Inghams share price of $3.79, this equates to yields of 5.8% and 6.1%, respectively.
The broker has an add rating and $4.40 price target on its shares.
Suncorp Group Ltd (ASX: SUN)
Finally, Goldman Sachs thinks that Suncorp could be a top ASX 200 dividend stock to buy. It is one of Australia's largest insurance companies.
The broker believes that Suncorp is well-positioned thanks to tailwinds in the general insurance market. It expects this to underpin fully franked dividends per share of 78 cents in FY 2024 and 83 cents in FY 2025. Based on the current Suncorp share price of $16.31, this will mean dividend yields of 4.8% and 5.1%, respectively.
Goldman has a buy rating and $17.54 price target on the company's shares.
