Top Dividend Stocks to Consider - January 31st

Today, three prominent dividend stocks are drawing attention from investors: ProShares UltraPro Short QQQ, Chevron, and EnLink Midstream. These stocks, as identified by MarketBeat's stock screener tool, are noteworthy as they represent shares in companies that distribute a portion of their profits back to shareholders, typically on a quarterly basis. This characteristic makes dividend stocks desirable for those seeking a reliable source of income.

ProShares UltraPro Short QQQ (SQQQ)

The ProShares UltraPro Short QQQ seeks to deliver investment results that correspond to three times the inverse of the daily performance of the NASDAQ-100 Index. This index includes 100 of the largest non-financial domestic and international stocks traded on the NASDAQ market.

Recently, shares of SQQQ saw a modest increase of $0.25, reaching a midday trading price of $29.10. In the last session, approximately 55.8 million shares were traded, slightly above its average trading volume. Over the past year, the stock has fluctuated between a low of $27.23 and a high of $64.95, with 50-day and 200-day moving averages of $30.19 and $36.51, respectively.

Chemical Division - Chevron (CVX)

Chevron Corporation is a global leader in energy production, engaging in both upstream and downstream operations. Its upstream segment focuses on the exploration and extraction of crude oil and natural gas, as well as the transportation and processing of these resources, including liquefied natural gas.

On Friday, Chevron's shares experienced a decline of $6.72, settling at $149.61 during midday trading, with over 10 million shares traded. This figure is notably higher than its average volume. Chevron has a 12-month trading range of $135.37 to $167.11 and a market capitalization of $268.85 billion. Financial ratios include a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.35, and a beta of 1.12.

EnLink Midstream (ENLC)

EnLink Midstream provides comprehensive midstream energy services across the United States. The company is involved in gathering, processing, storing, and transporting natural gas, as well as managing crude oil and natural gas liquids.

During midday trading on Friday, EnLink Midstream's stock price rose by $0.41 to reach $14.56. Approximately 95 million shares changed hands, markedly above its typical trading volume. The stock's 52-week low stands at $11.55, with a high of $16.40 and market capitalization at $6.65 billion. The company has a current ratio of 0.42 and a quick ratio also at 0.42, alongside a relatively high debt-to-equity ratio of 2.30.

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