Eletrobras (ELET3) is out and Banco do Brasil (BBAS3) is in: the portfolio of dividends of BTG Pactual selected 12 assets from the perspective of total shareholder value generation.
With some new additions and removals, the stock recommendations good dividend payers for the month include companies in the financial, services, mining, oil, services and construction sectors.
See the 12 shares in BTG Pactual’s dividend portfolio (BPAC11)
Analysts Bruno Lima, Luis Mollo and Marcel Zambello, removed Cury (CURY3), Eletrobras (ELET3) and Tim (TIMS3) from this month’s portfolio being replaced by 4 new assets.
Therefore, tips for shares to invest with dividends According to BTG, and their respective weight in the portfolio, they are:
- Petrobras (PETR4): 15%
- Itaú Unibanco (ITUB4): 10%
- Copel (CPLE6): 10%
- BB Seguridade (BBSE3): 10%
- JBS (JBSS3): 10%
- B3 (B3SA3): 10%
- Gerdau (GGBR4): 10%
- Banco do Brasil (BBAS3): 5%
- Vale (VALUE3): 5%
- Copasa (CSMG3): 5%
- Cyrela (CYRE3): 5%
- Porto Seguro (PSSA3): 5%
PETR4 dividends remain on BTG’s radar
It is worth noting that, even in the midst of turbulent news regarding Petrobras dividends the bank chose to maintain the high position in assets.
In this regard, analysts believe that the weight of this uncertain distribution of earnings and the company’s risks have already been priced.
“Our decision not to reduce our Buy recommendation to Neutral was based not only on our belief that there are not large enough assets to acquire that could compromise cash generation in the short term, but also on the view that the long The time needed for potential investments in mergers and acquisitions would allow the government’s pragmatism to prevail, as substantial payments could help balance Brazil’s fiscal accounts,” the report states.
Optimism with Vale and other companies
According to analysts, the portfolio’s focus is to find high-quality assets, with resilience in delivering results and generating cash.
Based on this, other companies that the bank highlights as surpassing results and good prospects are the Banco do Brasil (BBAS3), Itaú Unibanco (ITUB4), Vale (VALUE3) and the B3 (B3SA3).
As for the first, it is believed that with current rates “there are still gains to be captured”, in addition to the announcement of an increase in payout.
Regarding Itaú, analysts comment that, although the potential return on shares is not as high as in the past (shares rose +40% in the last 12 months), “the higher payout and high quality results keep Itaú as one of our preferences in the sector”, they say.
Vale, in turn, had its portfolio position reduced from 10% to 5%, but still has a purchase recommendation. “We still see a dividend yield of 10% possible, but visibility in relation to the thesis is lower,” said BTG analysts.
Finally, regarding the stock exchange operator, experts assessed that even in a weaker start to the year, B3’s valuation is starting to look attractive after the recent drop in shares.
“It is naturally very difficult to predict the exact moment, but the combination of pessimistic expectations and a reduced positioning could mean room for the shares to appreciate”, they say.
