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Fundamental data is updated weekly, as of the prior weekend. Please download the Full Report and Dividend Report for any changes.
Apr 19, 2024
Dividend Increases/Decreases for the Week of April 19
Let's take a look at firms raising/lowering their dividends this week.
Apr 18, 2024
Kinder Morgan Issues Strong Outlook; Adjusts Leverage Target
Image: Kinder Morgan’s shares have been choppy during the past couple years. We liked the 2024 outlook for Kinder Morgan, one of the largest energy infrastructure companies in North America. The company benefits from fee-based cash flows backed by multi-year contracts, and the firm is doing a much better job managing traditional free cash flow and its leverage. In its latest quarterly release, management adjusted lower its long-term leverage target to the range of 3.5x to 4.5x for net-debt-to-Adjusted EBITDA (was 4.5x previously). Shares yield 6.3% on a forward estimated basis.
Apr 16, 2024
UnitedHealth Group Reiterates 2024 Adjusted Net Earnings Outlook
Image: UnitedHealth Group’s shares have been choppy during the past couple years. UnitedHealth Group’s shares have seen better days as the firm works to recover from a cyberattack, while the industry’s medical costs are on the rise as patients begin to pursue procedures that were deferred during the peak of the COVID-19 crisis. Though it may be some time for UnitedHealth Group’s performance to normalize given the cyberattack and pent-up demand, we liked that it maintained its adjusted net earnings outlook for 2024 amid concerns of rising costs. UnitedHealth remains a key idea in the Best Ideas Newsletter portfolio.
Apr 13, 2024
Vertex Pharma to Acquire Alpine Immune Services
Image: Vertex Pharma’s shares have had a nice run the past couple years. On April 10, Vertex Pharma announced that it had entered into an agreement where Vertex will acquire Alpine Immune Services for $65 per share or ~$4.9 billion in cash. We have no qualms with the deal for Alpine, and we expect Vertex Pharma to continue to deliver for shareholders.
Apr 10, 2024
Delta Reports Strong March Quarter; Airline Stocks are Too Risky for Our Taste
Image Source: Colin Brown. Delta’s quarter ending in March was solid, and its full year outlook was encouraging. In general, however, we don’t like airline equities. The extreme ticket price transparency creates an ultra-competitive environment, and overcapacity is always a concern. We view airlines as merely trading vehicles on the health of the global economy and the trajectory of crude oil prices. Delta is operating well, but it will never be able to escape the challenges of its industry, and for those reasons we remain on the sidelines with respect to shares.
Apr 8, 2024
3 Dividend Growth Stocks for the Long Run
Image: Mike Mozart. There are many applications for the discounted cash-flow model. Not only does the tool help to derive a fair value estimate for a company, but the core drivers behind the intrinsic value calculation are also key drivers behind the health of a dividend payer. Stocks with a solid net cash position and also generate strong expected free cash flows more than their cash dividend obligations are in a much better position to grow their payouts in the future than stocks burdened by a net debt position and where their free cash flow comes up short. Apple, Microsoft and Dick’s Sporting Goods make the cut and are three of our favorite dividend growth stocks on the market today.
Apr 7, 2024
Geopolitical Risks Driving Crude Oil Prices Higher
Image: Crude oil prices have staged a strong advance to start 2024. Geopolitical tensions continue to be elevated as concerns grow that the war in the Middle East could further escalate, and as the war in Ukraine continues to rage on. On April 1, Israel apparently staged an attack on an Iran embassy in Syria that killed several military officials, including three senior Iranian commanders. Iran has indicated that it would retaliate, and many are speculating that the possible attack may be on Israeli soil, which would further increase global tensions. Ukraine has also been actively targeting Russian energy infrastructure, cutting into Russia’s refining capacity.
Apr 5, 2024
Dividend Increases/Decreases for the Week of April 5
Let's take a look at firms raising/lowering their dividends this week.
Apr 3, 2024
PVH’s Weak Guidance Sends Shares Tumbling
On April 1, PVH Corp. reported better than expected fourth quarter results, but the company’s cautious outlook sent the stock tumbling. The Street didn’t like its first quarter guidance that calls for revenue to decline 11% (10% on a constant currency basis) compared to the first quarter of last year, inclusive of the reduction from the sale of its Heritage Brands women’s intimates business. Earnings per share for the first quarter is targeted to only be marginally higher and come in at $2.15 versus $2.14 in the same period of 2023, well below what the Street was looking for.
Apr 2, 2024
Best Buy’s Free Cash Flow Comes Up Short in Covering Dividend
Image Source: Mike Mozart. For fiscal 2024, Best Buy generated ~$1.47 billion in operating cash flow and spent $795 million in capital spending, resulting in free cash flow of $675 million, below what it paid in dividends on the year ($801 million). That didn’t stop Best Buy from upping its dividend 2%, however, and the company continues to buy back stock. Best Buy yields ~4.6% at the time of this writing, but capital spending and volatile operating cash flow are two considerations top of mind for income-oriented investors.


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