Insights

Top brokers name 3 ASX dividend shares to buy today

Top brokers have named National Australia Bank Ltd (ASX:NAB) and these ASX dividend shares as buys this week. Here’s why they are bullish…
The post Top brokers name 3 ASX dividend shares to buy today appeared first on Motley Fool Australia. –

ASX dividend shares

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 that brokers think investors should buy:

BHP Group Ltd (ASX: BHP)

According to a note out of Ord Minnett, its analysts have upgraded this mining giant’s shares to a buy rating with a $44.00 price target. Although it is expecting BHP’s iron ore exports to be softer in the first quarter, it remains confident that BHP is on track to achieve its full year production guidance in FY 2021. Given current commodity prices, it expects this to lead to a strong profit result and a ~$2.22 per share fully franked dividend. Based on the latest BHP share price, this represents a generous 6% dividend yield.

National Australia Bank Ltd (ASX: NAB)

Analysts at Citi have retained their buy rating and $23.50 price target on this banking giant’s shares. According to the note, the broker has reduced its earnings estimates slightly to reflect lower net interest income assumptions. Nevertheless, the broker sees a lot of value in its shares at the current level and continues to rate them as a buy. It is forecasting a fully franked dividend of 80 cents per share in FY 2021. Based on the current NAB share price, this equates to a 4.3% dividend yield.

Transurban Group (ASX: TCL)

A note out of UBS reveals that its analysts have retained their buy rating and $15.50 price target on this toll road operator’s shares following its latest quarterly update. While Transurban posted another sizeable decline in traffic volumes during the quarter, the broker remains positive on the medium term. It notes that new projects are coming online and expects them to boost its growth in the coming years. For now, UBS is forecasting a FY 2021 dividend of 44 cents per share. Based on the current Transurban share price, this will provide investors with a 3.15% yield.

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.

Click Here For Your Free Stock Report

Returns As of 6th October 2020

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Transurban Group. 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.

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

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!