If you’re in the process of building an income portfolio, then you might want to look at the shares listed below.
Here’s why these ASX dividend shares could be in the buy zone right now:
Accent Group Ltd (ASX: AX1)
The first ASX dividend share that could be in the buy zone is Accent. It is the owner of a growing portfolio of store brands including Glue, HYPEDC, Pivot, Platypus, Sneaker Lab, and Stylerunner.
While lockdowns have weighed heavily on its performance in FY 2022, the team at Bell Potter believe it is worth sticking with the company. Especially with its analysts forecasting a big rebound in Accent’s profits and dividends in FY 2023.
Bell Potter has pencilled in a fully franked dividend of 6 cents per share in FY 2022 and then 11 cents per share in FY 2023. Based on the current Accent share price of $2.00, this will mean yields of 3% and 5.5%, respectively.
Bell Potter also sees plenty of upside for the company’s shares. It has a buy rating and $2.75 price target on them.
Woodside Petroleum Limited (ASX: WPL)
Another ASX dividend share that could be in the buy zone is Woodside. This energy producer’s shares may have stormed 23% higher so far in 2022, but they are still expected to provide investors with generous yields in the near term.
In addition, the future looks very bright for Woodside thanks to its upcoming merger with the petroleum assets of BHP Group Ltd (ASX: BHP). This transformative merger with make the company a top ten global producer with a collection of world class operations and numerous growth options.
Morgans is a fan of Woodside and is forecasting dividends per share of $1.29 in FY 2022 and then 94 cents in FY 2023. Based on the current Woodside share price of $27.95, this will mean yields of 4.6% and 3.4%, respectively.
The broker has an add rating and $30.35 price target on its shares.
The post Analysts name 2 top ASX dividend shares to buy appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- 5 things to watch on the ASX 200 on Monday
- How might the Ukraine crisis impact the Woodside (ASX:WPL) share price?
- 5 things to watch on the ASX 200 on Friday
- The oil price has just hit an 8-year high. What might this mean for ASX shares?
- Even the Woodside (ASX:WPL) share price isn’t immune to today’s sell-off. Here’s why
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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/OW71ehz
Leave a Reply