Notable Analyst Upgrades and Downgrades for Week of May 30 2022

 

Upgrades:

 

Linde (NYSE:LIN) was upgraded by Evercore ISI to an "outperform" rating in a research report issued to clients and investors on Tuesday, The Fly reports.

LIN has been the topic of a number of other reports. Credit Suisse Group began coverage on shares of Linde in a research report on Tuesday. They set an "outperform" rating and a $380.00 price objective on the stock. BMO Capital Markets lowered their price objective on shares of Linde from $405.00 to $365.00 and set an "outperform" rating on the stock in a research report on Monday, February 14th. Jefferies Financial Group began coverage on shares of Linde in a research report on Wednesday, March 30th. They set a "buy" rating and a $390.00 price objective on the stock. HSBC boosted their target price on shares of Linde from $366.00 to $382.00 and gave the stock a "buy" rating in a research report on Friday, February 18th. Finally, Zacks Investment Research raised shares of Linde from a "sell" rating to a "hold" rating and set a $312.00 target price for the company in a research report on Monday, February 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Linde currently has an average rating of "Buy" and a consensus price target of $367.14. Read more …

 

Magellan Midstream Partners (NYSE:MMP) was upgraded by stock analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Tuesday, The Fly reports.

A number of other analysts have also commented on MMP. TD Securities boosted their target price on Magellan Midstream Partners from $51.00 to $52.00 and gave the company a "hold" rating in a research report on Friday, May 6th. Morgan Stanley boosted their target price on Magellan Midstream Partners from $50.00 to $54.00 and gave the company an "underweight" rating in a research report on Tuesday, April 26th. JPMorgan Chase & Co. raised Magellan Midstream Partners from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $52.00 to $57.00 in a research report on Wednesday, May 25th. StockNews.com started coverage on Magellan Midstream Partners in a research report on Thursday, March 31st. They issued a "hold" rating for the company. Finally, Mizuho boosted their target price on Magellan Midstream Partners from $50.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, March 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $52.30. Read more …

 

Danaher (NYSE:DHR) was upgraded by investment analysts at Royal Bank of Canada from a "sector perform" rating to an "outperform" rating in a research note issued to investors on Wednesday, The Fly reports.

A number of other research analysts have also recently commented on the company. William Blair restated an "outperform" rating on shares of Danaher in a research report on Friday, April 22nd. UBS Group decreased their target price on Danaher from $365.00 to $340.00 in a research report on Sunday, April 24th. StockNews.com cut Danaher from a "buy" rating to a "hold" rating in a research report on Friday, April 22nd. Zacks Investment Research cut Danaher from a "buy" rating to a "hold" rating and set a $278.00 target price on the stock. in a research report on Monday, April 25th. Finally, Robert W. Baird decreased their target price on Danaher from $334.00 to $319.00 and set an "outperform" rating on the stock in a research report on Friday, April 22nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $331.14. Read more …

 

 

Xylem (NYSE:XYL) was upgraded by investment analysts at Cowen from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. The firm currently has a $75.00 target price on the industrial products company's stock. Cowen's price objective indicates a potential downside of 10.98% from the stock's current price.

Other analysts have also recently issued reports about the company. Stifel Nicolaus dropped their price objective on Xylem from $100.00 to $90.00 and set a "hold" rating for the company in a report on Monday, April 18th. Raymond James raised Xylem from an "underperform" rating to a "market perform" rating in a report on Tuesday, April 5th. Morgan Stanley dropped their price objective on Xylem from $120.00 to $110.00 and set an "overweight" rating for the company in a report on Monday, April 18th. Zacks Investment Research raised Xylem from a "sell" rating to a "hold" rating and set a $89.00 price target for the company in a research note on Thursday, May 12th. Finally, TheStreet cut Xylem from a "b" rating to a "c+" rating in a research note on Monday, February 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Xylem has an average rating of "Hold" and a consensus price target of $108.55. Read more …

 

Dividend Increases Week 5 (Part 2)

 

In this article, I will go through the weekly dividend increases and cuts in popular and well-known stocks. (Member of The Dividend Champions or Canadian All-Star list)

 

Recently, 28 companies announced dividend increases. Note that no dividend cuts or suspensions were announced during this period. This is the second part of the weeks notifications.

 

The table below summarises the dividend change announcements.  The table shows the current dividend, the new dividend and the percentage increase (%). Dividends are shown on an annual basis and in US dollars unless otherwise stated. Yield is the new dividend yield of the most recent price, and Years is the years of consecutive dividend increases.

 

 

 

 

 

Intercontinental Exchange, Inc. (ICE)

Intercontinental Exchange, Inc., together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. Intercontinental Exchange, Inc. was founded in 2000 and is headquartered in Atlanta, Georgia.

On February 3, ICE declared a quarterly dividend of $0.38 per share.

This is a 15.2% increase from prior dividend of $0.33. 

Payable March 31 for shareholders of record March 17, ex-div March 16.

 

CME Group Inc. (CME)

CME Group Inc., together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income products through its electronic trading platforms, open outcry, and privately negotiated transactions. CME Group Inc. was founded in 1898 and is headquartered in Chicago, Illinois.

On February 3, CME declared a quarterly dividend of $1.00 per share.

This is a 11.1% increase from prior dividend of $0.90. 

Payable March 25 for shareholders of record March 10, ex-div March 9.

 

Xylem Inc. (XYL)

Xylem Inc., together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions for the water and wastewater applications in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Water Infrastructure, Applied Water, and Measurement & Control Solutions. Xylem Inc. is headquartered in Rye Brook, New York.

On February 3, XYL declared a quarterly dividend of $0.30 per share.

This is a 7.1% increase from prior dividend of $0.28. 

Payable March 17 for shareholders of record February 17, ex-div February 16.

 

Air Products and Chemicals, Inc. (APD)

Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company was founded in 1940 and is headquartered in Allentown, Pennsylvania.

On February 3, APD declared a quarterly dividend of $1.62 per share.

This is an 8.0% increase from prior dividend of $1.50. 

Payable May 9 for shareholders of record April 1, ex-div March 31.

 

Microchip Technology Incorporated (MCHP)

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. Microchip Technology Incorporated was incorporated in 1989 and is headquartered in Chandler, Arizona.

On February 3, MCHP declared a quarterly dividend of $0.253 per share.

This is a 9.1% increase from prior dividend of $0.232. 

Payable March 8 for shareholders of record February 22, ex-div February 18.

 

 

Prudential Financial, Inc. (PRU)

Prudential Financial, Inc., together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block. Prudential Financial, Inc. was founded in 1875 and is headquartered in Newark, New Jersey.

On February 3, PRU declared a quarterly dividend of $1.20 per share.

This is a 4.3% increase from prior dividend of $1.15. 

Payable March 11 for shareholders of record February 15, ex-div February 14.

 

Southside Bancshares, Inc. (SBSI)

Southside Bancshares, Inc. operates as the bank holding company for Southside Bank that provides a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Its deposit products include savings, money market, and interest and noninterest bearing checking accounts, as well as certificates of deposit. Southside Bancshares, Inc. was founded in 1960 and is headquartered in Tyler, Texas.

On February 3, SBSI declared a quarterly dividend of $0.34 per share.

This is a 3.0% increase from prior dividend of $0.33. 

Payable March 3 for shareholders of record February 17, ex-div February 16.

 

Avista Corporation (AVA)

Avista Corporation operates as an electric and natural gas utility company. It operates in two segments, Avista Utilities and AEL&P. Avista Corporation was incorporated in 1889 and is headquartered in Spokane, Washington.

On February 3, AVA declared a quarterly dividend of $0.44 per share.

This is a 4.1% increase from prior dividend of $0.4225. 

Payable March 15 for shareholders of record February 18 ex-div February 17.

 

Brookfield Renewable Partners L.P. (BEP)

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources. Brookfield Renewable Partners L.P. was founded in 1999 and is based in Toronto, Canada.

On February 4, BEP declared a quarterly dividend of $0.32 per share.

This is a 5.3% increase from prior dividend of $0.3038. 

Payable March 31 for shareholders of record February 28, ex-div February 25.

 

Commerce Bancshares, Inc. (CBSH)

Commerce Bancshares, Inc. operates as the bank holding company for Commerce Bank that provides retail, mortgage banking, corporate, investment, trust, and asset management products and services to individuals and businesses in the United States. It operates through three segments: Consumer, Commercial, and Wealth. The company was founded in 1865 and is headquartered in Kansas City, Missouri.

On February 4, CBSH declared a quarterly dividend of $0.265 per share.

This is a 1.0% increase from prior dividend of $0.2625. 

Payable March 23 for shareholders of record March 8, ex-div February 7.

 

 

Otter Tail Corporation (OTTR)

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company’s Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator, Inc. markets. Otter Tail Corporation was founded in 1907 and is headquartered in Fergus Falls, Minnesota.

On February 4, OTTR declared a quarterly dividend of $0.4125 per share.

This is a 5.8% increase from prior dividend of $0.39. 

Payable March 10 for shareholders of record February 15, ex-div February 14.

 

RenaissanceRe Holdings Ltd. (RNR)

RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. RenaissanceRe Holdings Ltd. was founded in 1993 and is headquartered in Pembroke, Bermuda.

On February 4, RNR declared a quarterly dividend of $0.37 per share.

This is a 2.8% increase from prior dividend of $0.36. 

Payable March 31 for shareholders of record March 15, ex-div March 14.

 

Allegion plc (ALLE)

Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. Allegion plc was incorporated in 2013 and is headquartered in Dublin, Ireland.

On February 4, ALLE declared a quarterly dividend of $0.41 per share.

This is a 13.9% increase from prior dividend of $0.36. 

Payable March 31 for shareholders of record March 16, ex-div March 14.