JPMorgan Says Buy These 2 High-Yield Dividend Stocks — Including One With a 9% Yield – TipRanks Financial Blog

Bank runs and extreme market volatility – are the shades of 1929 upon us? Probably not, the current situation, while dangerous, is unlikely to trigger an economy-wide depression.

The real test, at least according to David Kelly, JPMorgan’s chief global strategist for asset management, will come on Wednesday, at the Federal Reserve’s next interest rate policy meeting. The central bank will have to determine which risk is more urgent, persistent high inflation or a bank crisis, and adjust its recent monetary tightening policy accordingly.

Kelly has some definite opinions on what course the Fed should take. “We’ve learned what the limit is in terms of quick Fed tightening,” he said in a recent interview, “and the limit is here, and the Federal Reserve should just stop.”

Whatever the Fed decides to do, the stock analysts at JPMorgan are taking a sharp turn toward high-yield dividend stocks, a standard defensive stock move when markets grow turbulent. We’ve used the TipRanks platform to pull up the details on two JPM dividend picks – finding from the data that these are Buy-rated equities with double-digit upside potential – and one has a dividend yield of 9%. Let’s take a closer look and find out why they believe these are compelling choices for investors right now.

MPLX LP (MPLX)

First up on our list of JPM dividend picks, is MPLX, the midstream spin-off of Marathon Petroleum. MPLX functions as a master limited partnership, owning and operating the original parent firm’s midstream energy transport network, as well as other logistic assets. MPLX also works in fuel distribution, moving refined fuel products from refineries to terminal nodes. MPLX’s network includes transport, terminal, and storage assets for crude oil, natural gas, and natural gas liquids, as well as an extensive pipeline web and an inland marine section on the navigable rivers of North America. MPLX’s transport network leads to coastal export terminals, various refineries, and tank farms and storage facilities.

All of this, and a market north of $33 billion, makes MPLX one of the largest midstream operators in North America, and its recent financial report, for Q4 and full year of 2022, shows the full scale. The company saw $2.5 billion at the top line, although the figure came in below the $3.3 billion achieved in Q3 and the $2.64 billion in the prior-year quarter. The Q4 EPS came in at 78 cents; this was flat y/y, and missed the…