Insights

Top brokers name 3 ASX dividend shares to buy today

Top brokers have named Westpac Banking Corp (ASX:WBC) 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. –

asx investor daydreaming about US 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 Macquarie, its analysts have retained their outperform rating and $57.00 price target on this mining giant’s shares. This follows the release of a third quarter update that the broker thought was solid. Overall, it believes BHP is well-positioned to deliver on its guidance and benefit from sky high iron ore prices. This is expected to result in strong earnings and bumper dividends. Macquarie is forecasting fully franked dividends of $3.51 per share in FY 2021 and $2.97 per share in FY 2022. Based on the latest BHP share price of $47.56, this represents yields of 7.4% and 6.2%, respectively.

Wesfarmers Ltd (ASX: WES)

Another note out of Macquarie reveals that its analysts have retained their outperform rating and $56.60 price target on this conglomerate’s shares. The broker appears to have been pleased with the company’s Kmart update. It believes that the focus on private label expansion and online sales will drive growth in the coming years. Particularly given its modest share of an enormous addressable market. Macquarie expects fully franked dividends of $1.63 per share and $1.51 per share for the next two years. Based on the current Wesfarmers share price of $55.70, this will mean yields of 2.9% and 2.7%.

Westpac Banking Corp (ASX: WBC)

Analysts at Morgans have retained their add rating and lifted the price target on this banking giant’s shares to $28.50. According to the note, the broker believes Westpac and the rest of the big banks could surprise to the upside when they release their next updates in the coming weeks. In addition, Morgans has upgraded its earnings forecasts for the coming years to reflect lower credit impairment assumptions. As for dividends, the broker is forecasting $1.37 per share in FY 2021 and $1.49 per share in FY 2022. Based on the latest Westpac share price of $25.12, this equates to fully franked yields of 5.5% and 5.9%, respectively.

Where to 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 more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Top brokers name 3 ASX dividend shares to buy today appeared first on The 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!