Insights

Top brokers name 3 ASX dividend shares to buy today

Top brokers have named BHP Group Ltd (ASX:BHP) 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. –

Brokers trading shares

When it comes to dividend shares there are countless options for investors to choose from on the ASX.

This certainly is fortunate with rates at record lows and potentially still going lower from here.

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:

Alumina Limited (ASX: AWC)

According to a note out of Citi, its analysts have upgraded this alumina producer’s shares to a buy rating with a $1.80 price target. The broker notes that Alumina’s shares have thoroughly underperformed its sector peers despite a rise in the alumina price over the last few months. In light of this, it sees a lot of value in them at the current level. And based on the current Alumina share price, it estimates that it offers income investors a 5.2% FY 2021 dividend yield.

BHP Group Ltd (ASX: BHP)

Analysts at UBS have retained their buy rating and lifted the price target on this mining giant’s shares to $41.00. The broker notes that base metal prices have been stronger than expected during the third quarter of 2020. This was particularly the case for iron ore prices, which averaged almost US$120 a tonne during the three months. As a result, the broker believes BHP is well-positioned to deliver another strong result in FY 2021. It is forecasting a dividend of approximately $2.49 per share, which equates to a fully franked 7% dividend yield.

Suncorp Group Ltd (ASX: SUN)

A note out of the Macquarie equities desk reveals that its analysts have upgraded this insurance and banking giant’s shares to an outperform rating with an improved price target of $11.00. The broker believes that Suncorp’s COVID provisions are sufficient. In light of this, Macquarie feels the material discount its shares are trading at in comparison to the ASX 100 is unnecessary. It is forecasting a dividend of 36 cents in FY 2021. This represents a fully franked 4.2% dividend yield.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks 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.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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!