Buy Pilbara Minerals and this ASX dividend share: analysts

Do you want a passive income boost? If you do, then the ASX dividend shares listed below that brokers rate as a buy could be the way to do it.

Here’s why these could be dividend shares to buy now:

Pilbara Minerals Ltd (ASX: PLS)

The first ASX dividend share that could be a buy is Pilbara Minerals.

This lithium miner has been named as a buy by analysts at Macquarie, who remain positive on the company despite recent weakness to spot lithium prices.

In fact, the broker is expecting Pilbara Minerals’ earnings to be strong enough to underpin some big dividends. It is forecasting fully franked dividends per share of 41 cents in FY 2023 and 30 cents in FY 2024. Based on the latest Pilbara Minerals share price of $3.73, this equates to yields of 11% and 8%, respectively.

Macquarie also sees huge upside for the company’s shares with its outperform rating and $7.70 price target.

Transurban Group (ASX: TCL)

Another ASX dividend share for income investors to consider is Transurban.

Transurban is a leading toll road operator with a portfolio of important roads in Australia and North America, as well as a significant project pipeline.

After a tough time during the pandemic, Transurban’s road are booming again. The company revealed that during the first half, it achieved record traffic volumes with average daily traffic (ADT) exceeding 2.5 million trips for the first time in November.

Citi is expecting more of the same in the second half and has put a buy rating and $16.00 price target on its shares.

In addition, the broker is forecasting dividends per share of 58 cents in FY 2023 and then 60 cents in FY 2024. Based on the current Transurban share price of $14.56, this will mean yields of 4% and 4.1%, respectively.

The post Buy Pilbara Minerals and this ASX dividend share: analysts appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why are ASX 200 lithium shares having such a miserable week?
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why was the Pilbara Minerals share price sold off in March?
• Here are the 3 most heavily traded ASX 200 shares on Monday

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