Buy and hold these ASX dividend shares until 2034

Analysts have put buy ratings on these stocks. Here's why they could be top long term options.

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If you want to make some buy and hold investments for your income portfolio, then it would be worth looking for ASX dividend shares with strong long-term outlooks.

But which shares could deliver the goods for investors over the next decade? Let's take a look at three quality options:

APA Group (ASX: APA)

APA Group could be a great buy and hold option for investors. Just ask its long term shareholders.

They will tell you that the energy infrastructure company is on course to increase its dividend for the 20th consecutive year.

The good news is that analysts at Macquarie believe this ASX dividend share can then continue this trend for the foreseeable future.

The broker is forecasting dividends per share of 56 cents in FY 2024 and then 57.5 cents in FY 2025. Based on the current APA Group share price of $8.33, this equates to 6.7% and 6.9% dividend yields, respectively.

Macquarie has an outperform rating and $9.40 price target on its shares.

Coles Group Ltd (ASX: COL)

Another ASX dividend share that could be a good buy and hold investment option is Coles.

It is one of Australia's big two supermarket operators. In addition, it has a significant liquor store network and a joint ownership in the Flybuys loyalty program.

Combined, these businesses appear well-placed to support solid earnings and dividend growth over the long term.

Morgans appears to believe this is the case and is forecasting fully franked dividends of 66 cents per share in FY 2024 and then 69 cents per share in FY 2025. Based on the current Coles share price of $16.97, this implies yields of approximately 3.9% and 4.1%, respectively.

The broker has an add rating and $18.95 price target on its shares.

Endeavour Group Ltd (ASX: EDV)

A third ASX dividend share that could be a great buy and hold option is Endeavour. It is the liquor giant behind store brands such as BWS and Dan Murphy's, as well as a large network of hotels.

Goldman Sachs is very positive on the company due to its market leadership position and attractive valuation. It expects this to support the payment of fully franked dividends of approximately 21 cents per share in FY 2024 and then 22 cents per share in FY 2025. Based on the current Endeavour share price of $5.03, this will mean dividend yields of 4.2% and 4.4% yields, respectively.

The broker currently has a buy rating and $6.30 price target on its shares.

Motley Fool contributor James Mickleboro has positions in Endeavour Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Apa Group, Coles Group, and Macquarie 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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