Portfolio income is recommended by top Wall Street analysts for these dividend stocks.

Despite recent records being set by major averages, geopolitical tensions and the upcoming U.S. presidential election could cause disruptions.

Those looking for stability in their portfolios may want to consider high-quality dividend stocks with a history of consistent income payments.

Companies' long-term ability to pay and increase dividends is thoroughly researched by analysts.

According to TipRanks, which ranks analysts based on their past performance, here are three attractive dividend stocks recommended by Wall Street's top experts.

Enbridge

This week's first dividend-paying pick is an energy infrastructure company that moves approximately 30% of North America's crude oil production and about 20% of the natural gas consumed in the U.S.

For 29 years, Enbridge has consistently increased its dividend, currently boasting a dividend yield of 7.7%.

ENB stock has been given a buy rating by RBC Capital analyst Robert Kwan after the recent investor day event. The analyst believes that the regulatory approval of the acquisition of the East Ohio Gas Company will boost the market's confidence in the company's ability to increase its earnings.

Enbridge agreed to acquire the largest of the three utilities, East Ohio Gas, from Dominion Energy, along with Questar Gas and the Public Service Company of North Carolina.

Enbridge's next growth platform is represented by Dominion utilities, as stated by Kwan.

The analyst pointed out that the company has revised its growth targets for the years 2023 to 2026, with earnings before interest, taxes, depreciation and amortization growth expected to be between 7% and 9%. This is an improvement from the previous outlook of 4% to 6% for the years 2022 to 2025. Furthermore, the company anticipates that this forecast will allow it to increase its annual dividend.

Among more than 8,700 analysts tracked by TipRanks, Kwan ranks No. 191. His ratings have been successful 67% of the time, with each generating an average return of 10.2%. (See Enbridge Hedge Funds Activity on TipRanks)

Bank of America

In 2023, one of the world's top banking institutions, (BAC), distributed $12 billion to its shareholders through dividends and share repurchases.

The bank declared a 24-cent dividend per share for the first quarter of 2024, payable on March 29. BAC stock provides a dividend yield of 2.6%.

Gerard Cassidy, an RBC Capital analyst, has maintained a buy rating on Bank of America with a price target of $39. The analyst is confident in the leadership of chairman and CEO Brian Moynihan, who is driving the bank towards enhanced profitability by focusing on cost control and sound credit underwriting practices.

As of Dec. 31, 2023, BAC's balance sheet is strong, with a common equity tier 1 ratio of 11.8% and a supplementary leverage ratio of 6.1%.

Cassidy stated that due to its robust financial position and PPNR, it should be able to pay and increase its dividend during a recession.

The analyst emphasized the bank's expanding market share in deposits, its leading role in international capital markets, and the favorable stock valuation. He predicts that BAC's profitability will improve due to the growing acceptance of its mobile services.

Among more than 8,700 analysts tracked by TipRanks, Cassidy ranks No. 143. His ratings have been successful 62% of the time, with each generating an average return of 14.9%. (See BAC Technical Analysis on TipRanks)

PepsiCo

The third dividend pick for this week is snack food and beverage giant PEP. Despite declining revenue in the North American business and missing analysts' expectations, the company reported better-than-expected earnings for the fourth quarter last month.

PepsiCo increased its annualized dividend by 7% to $5.42 per share, marking its 52nd consecutive year of raising dividend payments. The company's current dividend yield is 2.9%.

PepsiCo aims to distribute approximately $8.2 billion in cash returns to its shareholders by 2024, through dividends and share repurchases worth $7.2 billion and $1 billion respectively.

On March 18, Dara Mohsenian, a Morgan Stanley analyst, upgraded PepsiCo stock from hold to buy, with a price target of $190. The analyst mentioned two reasons for an earlier downgrade of the stock: valuation concerns and his belief that the consensus organic sales growth (OSG) guidance was too optimistic.

After both issues have been resolved, we would be aggressive buyers before H2 experiences a significant inflection, with PEP's valuation compression being overdone, and its earnings returning to above consensus and peer OSG.

PepsiCo was named a top pick by an analyst who argued that the market is not fully valuing the growth potential of the company's international business.

Among more than 8,700 analysts tracked by TipRanks, Mohsenian ranks No. 383. The analyst's ratings have been profitable 68% of the time, with each generating an average return of 9.2%. (See PepsiCo Stock Buybacks on TipRanks)