June is now officially upon us – along with moons, Ferris wheels and that dizzy, dancing way you feel.

With a new season comes a fresh opportunity to examine our share portfolios. And for ASX dividend investors, this couldn’t come with more importance. ASX dividend shares haven’t delivered a lot of confidence to investors in 2020 so far. The big 4 ASX banks have mostly quarantined their dividend payments – along with many other ASX blue-chip shares.

I’ve already pontificated about 3 ASX dividend shares you can buy this month, but here are another 5 winning ASX shares for your consideration today.

Rural Funds Group (ASX: RFF)

Rural Funds used to be a favourite of ASX dividend investors. That was before a short-seller attack last year that smashed the company’s share price into oblivion. It still hasn’t recovered to its past highs, despite claiming vindication from the allegations levied against it.

But that’s exactly why I think this agricultural land leaser is a top buy today. At the time of writing, its shares are offering a yield Elon Musk would be proud of – 4.20%. Rural Funds Group aims to increase this yield by 4% every year as well.

Telstra Corporation Ltd (ASX: TLS)

Telstra is another top ASX dividend share investors should consider this June. The telco giant has shown no explicit signs that its 16 cents per share dividend won’t be continued in 2020 – which would give Telstra shares a yield of 4.94% on current prices.

Telstra’s defensive qualities, as well as its investment in 5G technology, make this another top ASX dividend share to buy this month in my opinion.

Fortescue Metals Group Limited (ASX: FMG)

Fortescue Metals has been one of the best companies to own in 2020 so far. Not only do Fortescue shares offer a fully franked trailing yield of 6.82%, but the shares have also been breaking new all-time highs over the past few weeks. Another one was reached just today of $14.72.

As long as iron ore prices stay near their current levels around US$100 a tonne, I believe Fortescue should be able to shower its shareholders with dividend income this year – and thus, should be a handy share to have in your dividend stable.

Amcor PLC (ASX: AMC)

Amcor is a manufacturer of packaging – mostly of the cardboard box and plastic variety. This might be viewed as a ‘boring’ ASX dividend share by some investors – but in this case, boring means ‘defensive’ and ‘reliable’. Even though Amcor shares are up close to 50% on their March lows, the company is still offering a dividend yield of 2.52% on current prices.

Coles Group Ltd (ASX: COL)

Our final dividend pick today is Coles Group. Coles is one of the most defensive and reliable dividend payers on the ASX in my opinion. Its ‘recession-proof’ business is a handy one to have in an ASX dividend portfolio in these uncertain times – and is one we all saw the merits of back in February and March.

On current prices, Coles shares are offering a fully franked, trailing yield of 3.52%.

More reading

• How our richest Australians are getting richer
• Why Austal, CSL, Fortescue, & Star shares are charging higher today
• 3 top ASX dividend shares to buy now
• Is the Woolworths share price cheap today?
• 3 very reliable dividend shares to buy for income

Motley Fool contributor Sebastian Bowen owns shares of Telstra Limited. The Motley Fool Australia owns shares of and has recommended Amcor Limited, RURALFUNDS STAPLED, and Telstra Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (Index:^AXJO) is extending its bull run today as investors continue to pile back into equities best placed in the post-coronavirus economic recovery.

While value buys are getting increasingly hard to find after the near 30% bounce in the market since the low point of the COVID-19 bear market, there’s still a good handful of ASX shares that have room to run higher.

Here are the three latest buy-ideas from top brokers.

Appetite for a big upside

The first is Freedom Foods Group Ltd (ASX: FNP) with Goldman Sachs reiterating its “buy” recommendation on the stock, which also happens to be on its “conviction” list.

This is despite the group’s latest warning that its second half earnings before interest, tax, depreciation and amortisation (EBITDA) would take a big hit.

A number of one-off blows from the COVID-19 pandemic is behind the bad news, including the shutdown of its OOH and Foodservice channels, a $4 million bad debt provisioning and a $5 million restructuring charge.

“We are confident the broader strategy anchored around nutritional dairy and plant based beverages remains on track,” said the broker.

“We don’t see FNP needing to raise capital in the short term despite elevated leverage…[and] expect earnings to grow significantly in FY21.”

Goldman’s price target on the stock is $5.75 a share, or a 64% upside to the current share price.

Best leverage to rebounding oil price

The dramatic rebound in the oil price may have put a rocket under the Santos Ltd (ASX: STO) share price recently, but Credit Suisse thinks there’s more room to zoom.

The commodity bounced from a negative US$30+ a barrel to around US$35 a barrel, and the recovery bodes well for Santos’ two growth projects Dorado and Barossa.

Credit Suisse believes the breakeven for Dorado is as low around circa US$30 a barrel and that Santos will give the final green light to start on the Barossa project.

“We see STO in the wake of COVID-19 sell-off as potentially more leveraged to an oil recovery over the coming 18 months vs peers,” said the broker.

“Most of STO’s growth should readily return as the market recovers, and STO has leverage to long-term oil price assumptions should they return to pre-COVID-19 levels.”

Credit Suisse rates the stock as “outperform” with price target of $6.61 a share.

Worth more than originally thought

Finally, Morgan Stanley upgraded its earnings forecasts for auto parts group Bapcor Ltd (ASX: BAP) and reiterated its “overweight” recommendation on the stock.

“During lockdown we estimate industry sales were down >25% yoy in Australia and more like 85% in NZ,” said the broker.

“Our numbers previously baked in longer duration closures and a more measured ramp up. We now essentially see that pulled forward resulting in a 32% upgrade to FY21e EPS and 10% in FY22e.”

The broker lifted its price target on Bapcor to $7.20 from $6 a share, which suggests a 23% upside for the stock.

More reading

• Leading brokers name 3 ASX 200 shares to buy right now
• The latest ASX 200 stocks to be upgraded by top brokers
• How bankable are the big four ASX bank shares in 2020?
• Why Nearmap’s share price surged by 50% in May
• Why a2 Milk, Freedom Foods, Scentre, & TPG Telecom are dropping lower

Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia has recommended Freedom Foods Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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