<p>对于更喜欢稳定现金流的投资者来说，高股息率股票总是很有吸引力。重点在于稳定的上涨和股息收入，而不是在成长股中看到的快速收益。然而，在某些情况或时机下，蓝筹股息股票往往会表现优于成长股。原因可能是一个大行业或公司特定的催化剂。</p>
<p>此外，可能会出现这样一种情况，即高股息率股票的交易存在显著的估值差距，并且会出现较大涨幅。本专栏的重点是关注那些股价低于 20 美元的高股息率股票，在明年年底之前能够实现 100% 的回报。</p>
<p>所讨论的股票代表着具有强大基本面的公司。因此，估值差距是由于暂时的逆风。一旦情绪逆转，这些蓝筹股票就能像成长股一样上涨。让我们讨论一下对这些高股息率股票持乐观态度的业务特定原因。</p>
<h2>Aker BP ASA (AKRBF)</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>来源: Golden Dayz / Shutterstock.com</p>
<p><strong>Aker BP ASA</strong>（OTCMKTS: <strong>AKRBF</strong>）是一家被低估的石油和天然气勘探公司，具有强劲的股息率。随着原油承压，AKRBF 股票在过去 12 个月中保持横盘。我预计这只股息率为 9.97% 的股票将迎来强劲的突破。</p>
<p>推动大涨的第一个催化剂是未来 12 至 18 个月可能出现的降息。扩张性货币政策对大宗商品和能源等风险资产类别是积极的。此外，宽松的货币政策将支持 GDP 增长，石油需求可能会改善。</p>
<p>具体到公司，我对现金流潜力持乐观态度。Aker BP 拥有低盈亏平衡资产，随着油价走高，自由现金流将会增加。这家石油和天然气公司已经拥有投资级资产负债表，杠杆率为 0.2。</p>
<p>强劲的自由现金流意味着积极的资本投资，加上更高的股息。我必须补充的是，Aker 过去通过吸引人的收购实现了增长。凭借 66 亿美元的流动性缓冲和强劲的资产负债表，进一步在挪威大陆架进行收购似乎是可能的。</p>
<h2>淡水河谷（VALE）</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>来源: rafapress / Shutterstock.com</p>
<p>在我看来，<strong>淡水河谷</strong>（NYSE: <strong>VALE</strong>）是一个不错的逆势投资。VALE 股票一直处于低迷状态，前瞻市盈率为 5.26。此外，超过 11% 的股息率是吸引人的，考虑到现金流潜力是可持续的。</p>
<p>工业大宗商品一直受到全球增长担忧的困扰。这是 VALE 股票保持横盘至下跌的一个关键原因。然而，全球扩张性政策在即，我预计未来 12 个月大宗商品将迎来一波上涨。淡水河谷是潜在受益者，股票可能会从极度超卖的水平突破。</p>
<p>从业务角度来看，淡水河谷在铁矿石业务中报告了运营稳定性。2024 年第一季度的产量达到 2019 年以来的最高水平。这家大宗商品巨头还在铜和镍领域报告了健康的产量增长。</p>
<p>即使在相对低迷的大宗商品价格下，淡水河谷报告了 2024 年第一季度 35 亿美元的调整后息税折旧前利润。如果大宗商品价格走高，该公司将有望实现每年 180 至 200 亿美元的息税折旧前利润。因此，具有强劲现金流潜力的淡水河谷在当前水平具有吸引力。</p>
<h2>美国电话电报（T）</h2>
<p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>来源: Jonathan Weiss / Shutterstock.com</p>
<p><strong>美国电话电报</strong>（NYSE: <strong>T</strong>）已经保持低迷相当长一段时间。以五年来下跌 27% 的 T 股票为例。然而，通信服务股票似乎已见底。前瞻市盈率为 8 的估值看起来很有吸引力，T 股票提供 6.29% 的股息率。</p>
<p>从业务和财务角度来看，有两个关键的积极因素。首先，AT&amp;T 在 2018 年至 2022 年间在美国无线和有线网络上投资了 1,400 亿美元。这些投资正在带来持续的用户增长。与此同时，每用户平均收入也在增加。</p>
<p>此外，AT&amp;T 一直在努力实现其财务目标。公司已重申到 2025 年将净债务与调整后息税折旧前利润比率控制在 2.5 倍。对于当前年度，AT&amp;T 预计自由现金流为 170 至 180 亿美元。健康的现金流将确保稳定的股息和降低杠杆的空间。</p>
<p>_在本文发布日期，Faisal Humayun 没有持有（直接或间接）本文提到的证券中的任何头寸。本文中表达的观点属于作者个人，受到 InvestorPlace.com 发布指南的约束。</p>
<p>Faisal Humayun 是一位拥有 12 年信用研究、股票研究和财务建模经验的高级研究分析师。Faisal 撰写了 1500 多篇以技术、能源和大宗商品行业为重点的股票特定文章。</p>

美国电话电报

淡水河谷

<p>讨论了在 2025 年有望翻倍的股价低于 20 美元的高股息股票。提到的股票包括 Aker BP ASA（AKRBF）、淡水河谷（VALE）和美国电话电报（T）。AKRBF 是一家被低估的石油和天然气勘探公司，具有较高的股息收益率。VALE 可能受益于全球扩张性政策，并且已经报告了运营稳定。T 股票已触底，并提供有吸引力的股息收益率。这些股票代表了具有强大基本面和暂时估值差距的公司</p>

<p>High-dividend yield stocks are always attractive for investors who prefer regular cash flows. The focus is on steady upside and dividend income than quick gains that are seen in growth stocks. However, there are situations or times whereblue-chip dividend stocks tend to outperform growth stocks. The reasons can be a big industry or company specificcatalyst.</p>
<div class="lb-trans"><p>对于更喜欢稳定现金流的投资者来说，高股息率股票总是很有吸引力。重点在于稳定的上涨和股息收入，而不是在成长股中看到的快速收益。然而，在某些情况或时机下，蓝筹股息股票往往会表现优于成长股。原因可能是一个大行业或公司特定的催化剂。</p>
</div><p>Further, there can be a case where a high-dividend yield stock trades at a significant valuation gap and surges higher. The focus of this column is on high-dividend yield stocks under $20 that can deliver 100% returns before the end of next year.</p>
<div class="lb-trans"><p>此外，可能会出现这样一种情况，即高股息率股票的交易存在显著的估值差距，并且会出现较大涨幅。本专栏的重点是关注那些股价低于 20 美元的高股息率股票，在明年年底之前能够实现 100% 的回报。</p>
</div><p>The stocks discussed represent companies with strong fundamentals. The valuation gap is therefore due to temporary headwinds. Once sentiments reverse, these blue-chip names can rally like growth stocks. Let’s discuss the business specific reasons for being bullish on these high-dividend yield ideas.</p>
<div class="lb-trans"><p>所讨论的股票代表着具有强大基本面的公司。因此，估值差距是由于暂时的逆风。一旦情绪逆转，这些蓝筹股票就能像成长股一样上涨。让我们讨论一下对这些高股息率股票持乐观态度的业务特定原因。</p>
</div><h2>Aker BP ASA (AKRBF)</h2>
<div class="lb-trans"><h2>Aker BP ASA (AKRBF)</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: Golden Dayz / Shutterstock.com</p>
<div class="lb-trans"><p>来源: Golden Dayz / Shutterstock.com</p>
</div><p><strong>Aker BP ASA</strong> (OTCMKTS: <strong>AKRBF</strong>) is an undervalued oil &amp; gas exploration company with a robust dividend yield. With crude under pressure, AKRBF stock has remained sideways in the last 12 months. I expect a strong breakout for this 9.97% dividend yield stock.</p>
<div class="lb-trans"><p><strong>Aker BP ASA</strong>（OTCMKTS: <strong>AKRBF</strong>）是一家被低估的石油和天然气勘探公司，具有强劲的股息率。随着原油承压，AKRBF 股票在过去 12 个月中保持横盘。我预计这只股息率为 9.97% 的股票将迎来强劲的突破。</p>
</div><p>The first catalyst for a big rally is potential rate cuts due in the next 12 to 18 months. Expansionary monetary policies are positive for risky asset classes like commodities and energy. Further, easy money will support GDP growth and the demand for oil is likely to improve.</p>
<div class="lb-trans"><p>推动大涨的第一个催化剂是未来 12 至 18 个月可能出现的降息。扩张性货币政策对大宗商品和能源等风险资产类别是积极的。此外，宽松的货币政策将支持 GDP 增长，石油需求可能会改善。</p>
</div><p>Specific to the company, I am bullish on the cash flow potential. Aker BP has low breakeven assets and as oil trends higher, free cash flows will swell. The oil &amp; gas company already has an investment-grade balance sheet with a leverage ratio of 0.2.</p>
<div class="lb-trans"><p>具体到公司，我对现金流潜力持乐观态度。Aker BP 拥有低盈亏平衡资产，随着油价走高，自由现金流将会增加。这家石油和天然气公司已经拥有投资级资产负债表，杠杆率为 0.2。</p>
</div><p>Robust free cash flows would imply aggressive capital investments coupled with higher dividends. I must add that Aker has grown in the past through attractive acquisitions. With a liquidity buffer of $6.6 billion and a strong balance sheet, further acquisitions in the Norwegian Continental Shelf seem likely.</p>
<div class="lb-trans"><p>强劲的自由现金流意味着积极的资本投资，加上更高的股息。我必须补充的是，Aker 过去通过吸引人的收购实现了增长。凭借 66 亿美元的流动性缓冲和强劲的资产负债表，进一步在挪威大陆架进行收购似乎是可能的。</p>
</div><h2>Vale (VALE)</h2>
<div class="lb-trans"><h2>淡水河谷（VALE）</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: rafapress / Shutterstock.com</p>
<div class="lb-trans"><p>来源: rafapress / Shutterstock.com</p>
</div><p>In my view, <strong>Vale</strong> (NYSE: <strong>VALE</strong>) is a good contrarian play. VALE stock has been depressed and trades at a forward P/E of 5.26. Further, a dividend yield of above 11% is attractive and sustainable considering the cash flow potential.</p>
<div class="lb-trans"><p>在我看来，<strong>淡水河谷</strong>（NYSE: <strong>VALE</strong>）是一个不错的逆势投资。VALE 股票一直处于低迷状态，前瞻市盈率为 5.26。此外，超过 11% 的股息率是吸引人的，考虑到现金流潜力是可持续的。</p>
</div><p>Industrial commodities have been struggling with global growth concerns. That’s a key reason for VALE stock remaining sideways to lower. However, global expansionary policies are on the cards and I expect a good rally for commodities in the next 12 months. Vale is a potential beneficiary, and the stock can break out from deeply oversold levels.</p>
<div class="lb-trans"><p>工业大宗商品一直受到全球增长担忧的困扰。这是 VALE 股票保持横盘至下跌的一个关键原因。然而，全球扩张性政策在即，我预计未来 12 个月大宗商品将迎来一波上涨。淡水河谷是潜在受益者，股票可能会从极度超卖的水平突破。</p>
</div><p>From a business perspective, Vale has reported operational stability in the iron ore business. Production for Q1 2024 reached the highest level since 2019. The commodity major also reported healthy production growth in the copper and nickel segments.</p>
<div class="lb-trans"><p>从业务角度来看，淡水河谷在铁矿石业务中报告了运营稳定性。2024 年第一季度的产量达到 2019 年以来的最高水平。这家大宗商品巨头还在铜和镍领域报告了健康的产量增长。</p>
</div><p>Even with relatively depressed commodity prices, Vale reported adjusted EBITDA of $3.5 billion for Q1. If commodities trend higher, the company will be positioned to deliver an annual EBITDA of $18 to $20 billion. Therefore, with robust cash flow potential, Vale is attractive at current levels.</p>
<div class="lb-trans"><p>即使在相对低迷的大宗商品价格下，淡水河谷报告了 2024 年第一季度 35 亿美元的调整后息税折旧前利润。如果大宗商品价格走高，该公司将有望实现每年 180 至 200 亿美元的息税折旧前利润。因此，具有强劲现金流潜力的淡水河谷在当前水平具有吸引力。</p>
</div><h2>AT&amp;T (T)</h2>
<div class="lb-trans"><h2>美国电话电报（T）</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif" alt="" original-src="https://investorplace.com/wp-content/plugins/lazy-load/images/1x1.trans.gif"/></p>
<p>Source: Jonathan Weiss / Shutterstock.com</p>
<div class="lb-trans"><p>来源: Jonathan Weiss / Shutterstock.com</p>
</div><p><strong>AT&amp;T</strong> (NYSE: <strong>T</strong>) has remained subdued for an extended period. To put things into perspective, T stock has declined by 27% in the last five years. It however seems that the communication services stock has bottomed. Valuations look attractive at a forward P/E of 8 and T stock offers a dividend yield of 6.29%.</p>
<div class="lb-trans"><p><strong>美国电话电报</strong>（NYSE: <strong>T</strong>）已经保持低迷相当长一段时间。以五年来下跌 27% 的 T 股票为例。然而，通信服务股票似乎已见底。前瞻市盈率为 8 的估值看起来很有吸引力，T 股票提供 6.29% 的股息率。</p>
</div><p>From a business and financial perspective, there are two key positives. First, AT&amp;T has invested $140 billion in the U.S. wireless and wireline network between 2018 and 2022. These investments are delivering sustained subscriber base growth. At the same time, the average revenue per user has increased.</p>
<div class="lb-trans"><p>从业务和财务角度来看，有两个关键的积极因素。首先，AT&amp;T 在 2018 年至 2022 年间在美国无线和有线网络上投资了 1,400 亿美元。这些投资正在带来持续的用户增长。与此同时，每用户平均收入也在增加。</p>
</div><p>Further, AT&amp;T has remained on track to achieve its financial goals. The company has reaffirmed its guidance of net debt-to-adjusted EBITDA of 2.5x by 2025. For the current year, AT&amp;T has guided for free cash flow of $17 to $18 billion. Healthy cash flows will ensure steady dividends and the headroom to deleverage.</p>
<div class="lb-trans"><p>此外，AT&amp;T 一直在努力实现其财务目标。公司已重申到 2025 年将净债务与调整后息税折旧前利润比率控制在 2.5 倍。对于当前年度，AT&amp;T 预计自由现金流为 170 至 180 亿美元。健康的现金流将确保稳定的股息和降低杠杆的空间。</p>
</div><p><em>On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.</em></p>
<div class="lb-trans"><p>_在本文发布日期，Faisal Humayun 没有持有（直接或间接）本文提到的证券中的任何头寸。本文中表达的观点属于作者个人，受到 InvestorPlace.com 发布指南的约束。</p>
</div><p>Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock specific articles with focus on the technology, energy and commodities sector.</p>
<div class="lb-trans"><p>Faisal Humayun 是一位拥有 12 年信用研究、股票研究和财务建模经验的高级研究分析师。Faisal 撰写了 1500 多篇以技术、能源和大宗商品行业为重点的股票特定文章。</p>
</div>

3 只股息收益率高于 20 美元的股票可能在 2025 年翻倍