The Smartest Dividend Stocks to Buy With $300 Right Now

As the market continues to evolve, investors are always on the lookout for smart ways to grow their portfolios. One strategy that has stood the test of time is investing in dividend stocks. These companies distribute a portion of their profits to shareholders, providing a steady income stream while also offering the potential for capital appreciation. With $300 to invest, here are three dividend stocks that offer attractive yields and growth potential.

1. Energy Transfer LP (ET)
Energy Transfer is a midstream U.S. oil and gas infrastructure provider, focusing on pipelines, storage, and terminals. The company also has an alternative energy group developing renewable energy technology. With an attractive 7.8% dividend yield and a 23.9% stock price increase in 2024, ET offers a compelling combination of income and growth. Analyst Stewart Glickman believes that Energy Transfer's attractive positioning in the U.S. Gulf Coast region, particularly in Mont Belvieu, Texas, will enable the company to take advantage of significant natural gas liquids export demand in 2024. CFRA has a "buy" rating and a $18 price target for ET stock, which closed at $16.39 on July 15.

2. Kenvue Inc. (KVUE)
Kenvue is the largest pure-play consumer health stock, owning popular brands such as Band-Aid, Tylenol, Neutrogena, Aveeno, Johnson's, Listerine, and Nicorette. Spun off from parent company Johnson & Johnson in May 2023, Kenvue has tapped into attractive markets and is uniquely positioned to capitalize on emerging trends and dynamic consumer preferences. With a 4.4% dividend yield, KVUE has implemented new strategies to stimulate its underperforming Skin Health & Beauty and Essential Health segments. CFRA has a "buy" rating and a $23 price target for KVUE stock, which closed at $18.11 on July 15.

3. Orange SA (ORAN)
Orange is a diversified French telecommunications company. Analyst Adrian Ng believes that telecommunications companies are facing a difficult regulatory and operational environment across Europe, but those headwinds have already been priced into Orange shares at their current levels. With a 7.2% dividend yield, Orange has an opportunity to raise cash to invest in its business if it can successfully monetize its valuable tower assets. Cost-cutting efforts will also help support margins. Orange management has committed to maintaining its dividend, which currently yields 7.2%. CFRA has a "buy" rating and a $13 price target for ORAN stock, which closed at $10.87 on July 15.

These three dividend stocks offer attractive yields and growth potential, making them suitable for a $300 investment. By diversifying your portfolio with these companies, you can generate a solid income stream while positioning yourself for long-term growth. However, always conduct thorough research and consider your risk tolerance before making investment decisions.