These 3 dividend stocks are highly recommended by top Wall Street analysts.

Stocks that pay dividends can improve an investor's portfolio and offer stability during market fluctuations.

Dividend-paying companies with attractive growth prospects can be selected by investors by tracking Wall Street analysts' ratings.

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

Northern Oil and Gas

The first dividend stock for this week is (NOG), a company that specializes in acquiring, exploring, and producing oil and natural gas properties in the Williston, Permian, and Appalachian basins.

NOG paid a dividend of 40 cents per share for the first quarter, reflecting an 18% year-over-year increase. The stock offers a dividend yield of 4.1%. Additionally, the company boosted shareholder returns through stock buybacks worth $20 million in Q1 2024.

XCL Resources recently agreed to sell a 20% stake in its Uinta Basin assets to NOG and SM Energy for $510 million.

RBC Capital analyst Scott Hanold maintained a buy rating on NOG stock with a price target of $46 after discussing the company's management. The analyst noted that NOG could expand in the Uinta Basin through additional deals, similar to its strategy in the Permian and Williston Basins.

Hanold stated that the deal aligns with NOG's strategy of partnering with top-notch operators such as SM Energy to seize profitable opportunities. "This marks NOG's fourth significant JV [joint venture] and significantly enhances its portfolio, profitability, and operational flexibility," he added.

The analyst increased his 2025 earnings per share and cash flow per share estimates by 11% to 12% and boosted his free cash flow per share forecast by 10%, assuming the XCL deal is significantly accretive. He believes that the strong free cash flow outlook could allow NOG to raise its base dividend. Hanold predicts a 10% to 15% increase in dividend in 2025.

Among more than 8,900 analysts tracked by TipRanks, Hanold ranks No. 23. His ratings have been profitable 67% of the time, delivering an average return of 26.7%. (See NOG Stock Buybacks on TipRanks)

JPMorgan Chase

JPM, the largest U.S. bank by assets, is the next dividend pick. Last month, the bank announced its plans to increase its dividend by about 9% to $1.25 per share for the third quarter of 2024. JPM offers a dividend yield of 2.2%.

JPM announced that it would increase its Q3 dividend by $0.10 per share, marking the second dividend hike this year. The bank had previously announced an increase in its dividend to $1.15 per share from $1.05 in March 2024. Additionally, JPM's board has authorized a new share repurchase program of $30 billion, effective July 1, to enhance shareholder returns.

JPM stock has a buy rating from RBC Capital analyst Gerard Cassidy, who set a price target of $211. The analyst's bullish investment thesis is supported by several factors, including a strong management team, JPM's top-ranking business lines in the banking industry, and a robust balance sheet.

Cassidy stated that as the company grows its consumer and capital markets businesses, it will gain a competitive advantage and increase profitability by capturing market share from weaker competitors.

The analyst emphasized JPM's diversified business model, which generates 41% of Q1 2024 revenue from Consumer and Community banking, 32% from Corporate and Investment Banking, 12% from Asset and Wealth Management, 9% from Commercial Banking, and 5% from Corporate.

Among more than 8,900 analysts tracked by TipRanks, Cassidy ranks No. 128. His ratings have been successful 63% of the time, delivering an average return of 14.7%. (See JPM Stock Charts on TipRanks)

Walmart

We will examine the big-box retailer (WMT) later. The company recently raised its dividend by 9% to 83 cents per share, marking its 51st consecutive annual increase.

In the first quarter, WMT distributed $2.73 billion to shareholders through dividends and share repurchases. The payout ratio was 37.5%, indicating potential for future dividend growth.

Corey Tarlowe, Jefferies analyst, recently reaffirmed his buy rating on WMT with a price target of $77, stating that the stock is his firm's top pick. Tarlowe believes that Walmart is in the early stages of its AI and automation journey.

Tarlowe predicts that AI and automation could increase the company's operating income by more than $20 billion by 2029, compared to 2023, through factors such as automation efficiencies, advertising, theft mitigation, and autonomous driving.

The analyst emphasized WMT's strategic investment and partnership with Fox Robotics, which offers the world's first autonomous forklift, as well as Sam's Club's deployment of automatic receipt verification arches as part of their AI strategy.

Tarlowe stated that we anticipate WMT to have a larger share of customer spending due to enhanced omnichannel capabilities, partnerships, and services.

Among more than 8,900 analysts tracked by TipRanks, Tarlowe ranks No. 266. His ratings have been successful 67% of the time, delivering an average return of 19.7%. (See WMT Technical Analysis on TipRanks)