3 Strong Dividend Stocks to Buy Now

When we see market prices correct like they did earlier this week, it is always nice to know you have strong dividend stocks with rapid growth in your portfolio.

Appreciation can be taken back in the blink of an eye, but a dividend is yours to keep forever once it hits your account. And if you buy great dividend stocks when the market is ugly, lower prices can help you lock in a higher yield.

But not all dividend stocks need to have high yields to make them noteworthy buys. AT&T Inc. (NYSE: T), Enterprise Products Partners L.P. (NYSE: EPD), and Brookfield Renewable Corp. (NYSE: BEPC) are all excellent long-term investments.

The Payoff of AT&T's Move into Media and Streaming

AT&T Inc. (NYSE: T) still has the potential for long-term appreciation.

Yes, it is a boring old phone company.

No, it is probably not going to double in a few months.

It will, however, deliver a stable and growing pile of cash into your account each and every quarter that you own the stock.

Though AT&T will be a smaller company when the spin-off of its media assets is complete, as shareholders, we get shares of that spin-off company, which will be a media and streaming market leader from day one.

AT&T will also be more of a pure play on 5G and fiber broadband going forward because of the company's heavy involvement in developing smart cities.

It recently announced that it would be working with homebuilder JBG Smith (JBGS) to build a 5G smart city in National Landing, just outside of Washington, D.C.

The smart city project will have state-of-the-art 5G coverage all across the area and could be the prototype for future smart cities, offering improved smart car mobility and immersive retail experiences.

JBG Smith's National Landing portfolio currently spans 6.8 million square feet of existing office space and 2,856 residential units, 808 units currently under construction plus 7.2 million square feet of additional commercial, multi-family, and retail development possibilities. The area will also be the location of Amazon's east coast operations and the location of the Virginia Tech $1 billion Innovation Campus.

The two companies are viewing the project as a template to further develop smart city technology to cover areas like cybersecurity, cloud/edge computing, Internet of Things (IoT), and artificial intelligence.

At face, AT&T may be seen as an old and stodgy company. But many of the things it does in 5G and technology - such as their collaborative work with JBG Smith on the National Landing smart city - are more cutting edge than boring. The company is leveraging its work with 5G to improve augmented reality (AR) experiences for movies such as "Space Jam: Toon Squad" and a variety of children's books by working with Bookful.

Right now, you can buy the stock for eight times forward earnings and enjoy a 7.5% dividend yield.

Much of AT&T's potential resides in its development of coming technologies, but there is another old-school dividend stock that sports a high yield - one that's made its claim in the oil and natural gas industry.

A High-Yield Pipeline Company to Build Wealth

While there are numerous initiatives underway to push for 100% renewable energy, the truth is it will take a lot longer than the most optimistic forecasts. Oil, and especially natural gas, will be a part of our energy solution for at least another decade. Oil and gas will still have to get from point A to point B during that time.

That means that Enterprise Products Partners L.P. (NYSE: EPD) will keep collecting cash from its network of pipelines, storage facilities, and marine transportation services.

Most of the company's revenue is from fee-based contracts and is not tied to the price of oil and gas.

All told, it owns more than 50,000 miles of pipelines and storage capacity for 260 million barrels of NGLs, petrochemicals, refined products, crude oil, and 14 billion cubic feet of natural gas.

The stock is currently yielding 7.76%, and the payout has been raised every year for 22 consecutive years.

There is tremendous upside here as pipelines are just getting more valuable every day. Increased red tape and a not-in-my-backyard attitude among many Americans make it extremely difficult to get new pipelines built.

Just because we still use oil and gas, and will for years the next 10 years or so, does not mean that we will not rely more and more renewable energy.

A Renewable Energy Dividend Stock for Renewable Income

One of the biggest renewable energy companies is Brookfield Renewable Corp. (NYSE: BEPC).

Brookfield Renewable owns hydroelectric, solar, and wind-powered energy assets in North America, Europe, and Asia. It has a simple strategy: Buy renewable energy assets, improve operations to increase cash flows, and own them for a very long time unless some are willing to overpay for certain assets.

Then it sells those assets and puts that cash back into undervalued properties.

It has used the same strategy to successfully build traditional energy, infrastructure, real estate, and private equity portfolios over the years.

Management is looking to deliver long-term total returns of 12% to 15% by increasing the divide payout by 5% to 9% annually and profits from developing properties.

The current yield is 3.5%, and dividend growth has averaged 6% annually so far.

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