TTE - Looking for More Income? These Oil Dividend Stocks Yield 4%+.
2023-10-22 08:33:00 ET
The energy sector is one of the best spots for income-focused investors these days. The average energy stock in the S&P 500 yields 3.6%. That's second best in the index to real estate's 3.7% and more than double its average of 1.6%.
TotalEnergies (NYSE: TTE) , Plains All American Pipeline (NASDAQ: PAA) , and Devon Energy (NYSE: DVN) stand out among oil dividend stocks . The trio currently offers yields above 4%. Here's why a few Fool.com contributors believe they're ideal options for income-seeking investors these days.
Reuben Gregg Brewer (TotalEnergies): With a 4.7% dividend yield, TotalEnergies is offering investors a generous energy-tied passive income stream. Notably, the European company stuck by its dividend through the energy downturn during the early days of the coronavirus pandemic. Peers BP and Shell cut their dividends. What's most interesting, however, is that the dividend cuts at BP and Shell came along with commitments to shift their businesses in a cleaner direction. TotalEnergies made the same commitment, but without the dividend cutting.
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Looking for More Income? These Oil Dividend Stocks Yield 4%+.