Are you looking for dividend shares to buy? If you are, then you may want to look at the ASX 200 dividend shares listed below that have recently been named as buys by the team at Morgans.
Here’s why these ASX dividend shares could be worth considering right now:
Super Retail Group Ltd (ASX: SUL)
The first ASX dividend share to look at is this retail conglomerate.
Its shares have been sold off recently due to a disappointing, but not unexpected, half year result caused by COVID headwinds. Importantly, though, the company’s growth on a two-year basis has been strong, with double-digit like for like sales growth achieved across its BCF, Rebel, and Supercheap Auto businesses.
The team at Morgans believe this recent weakness is a buying opportunity for investors and have just upgraded its shares to an add rating with a $13.80 price target.
It commented: “We believe today’s [Monday’s] 9.5% fall in the share price creates an opportunity to buy shares in a well-run retailer at attractive multiples of 12.3x FY23F P/E and 10.3x FY23F EV/EBIT.”
As for dividends, the broker is forecasting fully franked dividends of 59 cents per share in FY 2022 and 61 cents per share in FY 2023. Based on the current Super Retail share price of $11.35, this will mean yields of 5.2% and 5.4%, respectively.
Transurban Group (ASX: TCL)
Another ASX dividend share that Morgans is positive on is Transurban. It is one of the world’s leading toll road operators and the owner of a portfolio of key roads in Australia and North America.
Transurban also has a pipeline of development projects that should support its growth over the next decade and a technology business focused on researching and developing innovative tolling and transport technology that makes travel easier for everyone.
Morgans recently retained its add rating with a price target of $14.29. The broker was pleased with the company’s half year results and expects even better as Australia’s COVID recovery continues.
Its analysts said: “We retain an ADD rating, viewing TCL as a high quality toll road portfolio that provides long-dated resilient cashflows with leverage to a COVID recovery.”
In respect to dividends, Morgans expects dividends per share of 35 cents in FY 2022 and then 53.7 cents in FY 2023. Based on the current Transurban share price of $12.74, this will mean yields of 2.7% and 4.2%, respectively.
The post Morgans names 2 ASX 200 dividend shares to buy right now appeared first on The Motley Fool Australia.
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More reading
- Super Retail (ASX:SUL) share price crashes 10% after profits plunge
- Earnings dip fails to derail Transurban (ASX:TCL) share price today
- Are ASX growth shares still worth holding in 2022?
- Own Transurban (ASX:TCL) shares? Here’s what to watch when the company reports this week
- Why Flight Centre, Macquarie, Super Retail, and Suncorp shares are racing higher
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. owns and has recommended Super Retail Group Limited. The Motley Fool Australia owns and has recommended Super Retail Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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