If you are looking for some new additions to your income portfolio, then read on!
That's because the four ASX dividend stocks that are listed below have all being named as buys by brokers. Here's what you need to know about them:
APA Group (ASX: APA)
The first ASX dividend stock that could be a buy according to brokers is APA Group. It owns and operates a $27 billion portfolio of gas, electricity, solar and wind assets across Australia.
Macquarie is a fan and sees plenty of upside for its shares. It has an outperform rating and $9.40 price target on them. The broker also expects some big dividend yields in the near term. It is forecasting dividends per share of 56 cents in FY 2024 and then 58 cents in FY 2025. Based on the current APA Group share price of $7.89, this equates to 7.1% and 7.35% yields, respectively.
IPH Ltd (ASX: IPH)
Goldman Sachs thinks that IPH could be a quality ASX dividend stock to buy. It is a leading intellectual property solutions company with operations across the globe.
The broker has a buy rating and $8.25 price target on IPH's shares. In respect to dividends, Goldman expects IPH's defensive earnings and organic growth to support the payment of fully franked dividends per share of 37 cents in FY 2025 and then 40 cents in FY 2026. Based on the current IPH share price of $6.48, this represents yields of 5.7% and 6.2%, respectively.
Telstra Group Ltd (ASX: TLS)
Another ASX dividend stock that could be a buy is Telstra. It is Australia's largest telecommunications company, providing around 22.5 million retail mobile services and 3.4 million retail bundle and data services.
Goldman Sachs is also tipping its shares as a buy with a $4.35 price target. As for income, the broker is forecasting fully franked dividends of 19 cents per share in FY 2025 and then 20 cents per share in FY 2026. Based on the current Telstra share price of $4.03, this equates to yields of 4.7% and 5%, respectively.
Transurban Group (ASX: TCL)
Analysts at UBS think Transurban is an ASX dividend stock to buy. It is one of the world's leading toll road operators.
In response to its full year results this month, the broker has put a buy rating and $14.60 price target on its shares. In respect to dividends, UBS is expecting Transurban to pay dividends per share of 65 cents in FY 2025 and then 69 cents in FY 2026. Based on the current Transurban share price of $13.54, this will mean yields of 4.8% and 5.1%, respectively.
