Insights

Top brokers name 3 ASX dividend shares to buy today

Top brokers have named Fortescue Metals Group Limited (ASX:FMG) and these ASX dividend shares as buys. Here’s why they are bullish…
The post Top brokers name 3 ASX dividend shares to buy today appeared first on The Motley Fool Australia. –

Fortunately, in this low interest rate environment, there are countless dividend shares for investors to choose from on the Australian share market.

But with so many to choose from, it can be hard to decide which ones to buy. To narrow things down, I have picked out three ASX dividend shares brokers think investors should buy:

Mineral Resources Limited (ASX: MIN)

According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this iron ore and lithium company’s shares to $73.00. The broker made the move after increasing its iron ore forecasts materially. This is expected to lead to strong earnings in the near term and generous dividend payments from Mineral Resources. In respect to the latter, it is forecasting dividends of $3.32 per share and $3.05 per share over the next two financial years. Based on the current Mineral Resources share price of $48.87, this will mean fully franked yields of 6.8% and 6.2%, respectively.

Mirvac Group (ASX: MGR)

Analysts at Morgan Stanley have retained their overweight rating and lifted their price target on this property company’s shares to $3.30. According to the note, the broker believes that the market is undervaluing Mirvac’s office portfolio. Particularly given its exposure to the recovering Sydney market. Morgan Stanley expects dividends of 9.9 cents per share in FY 2021 and 11.2 cents per share in FY 2022. Based on the current Mirvac share price of $2.95, this will mean yields of 3.35% and 3.8%, respectively.

Suncorp Group Ltd (ASX: SUN)

A note out of Citi reveals that its analysts have retained their buy rating and $11.80 price target on this insurance and banking giant’s shares. According to the note, although Citi has reduced its earnings estimates slightly to reflect insurance claims from the severe weather in Victoria, it still believes there is scope for a special dividend in FY 2021. It also suspects that there could be collective provision releases coming that might not be factored into estimates presently. Citi is forecasting dividends of 61 cents per share in FY 2021 and 58 cents per share in FY 2022. With the Suncorp share price currently fetching $11.32, this implies fully franked yields of 5.4% and 5.1%, respectively, over the next two years.

The post Top brokers name 3 ASX dividend shares to buy today appeared first on The Motley Fool Australia.

These Dividend Stocks Could Be Your Next Cash Kings (FREE REPORT)

Motley Fool Australia’s Dividend experts recently released a brand-new FREE report revealing 3 dividend stocks with JUICY franked dividends that could keep paying you meaty dividends for years to come.

Our team of investors think these 3 dividend stocks should be a ‘must consider’ for any savvy dividend investor. But more importantly, could potentially make Australian investors a heap of passive income.

Don’t miss out! Simply click the link below to grab your free copy and discover these 3 high conviction stocks now.

Returns As of 15th February 2021

More reading

Suncorp (ASX:SUN) share price hits new 52-week high
Suncorp (ASX:SUN) share price pushes higher on claims update
What moved the Stockland (ASX:SGP) share price this week?
Why Telstra (ASX:TLS) and this ASX share could be top options for a retirement portfolio
This ASX share could be the next to get a re-rating boost

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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!