In this article, we will take a look at the 5 Energy Stocks with Highest Dividends. For a deeper discussion and analysis, please refer to the 10 Energy Stocks with Highest Dividends.
5. Eni S.p.A (NYSE:E)
Dividend Yield as of June 30: 5.21%
Eni S.p.A. (NYSE:E) operates as an integrated energy company in Italy, the rest of Europe, the United States, Asia, Africa, and internationally.
On June 25, Erste Group analyst Hans Engel downgraded Eni S.p.A. (NYSE:E) from ‘Hold’ to ‘Buy’, without assigning the stock a specific price target.
According to Erste Group, the Italian energy giant is well-positioned in 2026 to more than offset the natural production declines from its mature fields by ramping up new gas and LNG projects. However, the analyst firm expects energy prices to remain lower in the second half of the year than they were in the first half, which is likely to weigh on the company’s profitability.
Eni S.p.A. (NYSE:E) is targeting an underlying oil & gas production growth of 3-4% for FY 2026. Meanwhile, its gross capex and net capex for the year have been confirmed at €7 billion and €5 billion, respectively.
Eni boosted its share buyback by around 90% to €2.8 billion ($3.27 billion) in April, and also raised its full-year cash flow from operations guidance by 20% to €13.8 billion.
4. Viper Energy, Inc. (NASDAQ:VNOM)
Dividend Yield as of June 30: 5.37%
Viper Energy, Inc. (NASDAQ:VNOM) is a publicly traded Delaware corporation focused on owning and acquiring mineral and royalty interests, primarily in the Permian Basin.
On June 29, Morgan Stanley analyst Devin McDermott trimmed the firm’s price recommendation on Viper Energy, Inc. (NASDAQ:VNOM) from $49 to $46, but kept an ‘Overweight’ rating on the shares. The revised target still indicates an upside potential of over 8% from the current share price.
The adjustment comes after Morgan Stanley updated its estimates to reflect the recent movements in energy prices. The analyst firm noted that the WTI crude price has retreated by around 60% from its recent peak in April and is now trading only slightly above its pre-conflict levels after the US and Iran signed a memorandum of understanding on June 14.
After a strong first quarter, Viper Energy, Inc. (NASDAQ:VNOM) raised the midpoint of its FY26 oil production guidance by around 2.5%, driven primarily by “Diamondback’s increased near-term activity and continued development of Viper’s high concentration royalty interest throughout the basin”. The raised output target represents an organic growth of over 5% relative to the company’s pro forma 2025 exit rate.
3. TotalEnergies SE (NYSE:TTE)
Dividend Yield as of June 30: 5.43%
TotalEnergies SE (NYSE:TTE) is a global integrated energy company that produces and markets energies.
On June 23, CICC initiated coverage of TotalEnergies SE (NYSE:TTE) with an ‘Outperform’ rating and a price target of €90, indicating an upside of over 32% from the current levels.
TotalEnergies SE (NYSE:TTE) raised its dividend and doubled its share buybacks in April after its earnings topped expectations in the first quarter, driven by the Middle East war-driven oil rally. The French energy major announced a 5.9% dividend increase and authorized stock buybacks of up to $1.5 billion for the second quarter, compared to the $750 million target for Q1 announced in February.
This marks a sharp turnaround as TotalEnergies slowed buybacks and announced a cost-savings programme late last year, forecasting that the already low oil prices would fall further.
Antipodes Global Strategy stated the following regarding TotalEnergies SE (NYSE:TTE) in its Q1 2026 investor letter:
“TotalEnergies SE (NYSE:TTE) surged higher towards the end of the Quarter supported by volatile and elevated oil prices, which lifted earnings expectations and cash flow outlook. Heightened geopolitical tensions drove sharp swings in Brent Crude, benefiting integrated energy producers with strong upstream leverage. The rally was reinforced by solid CY25 results and constructive 2026 guidance, including expected production growth, rising LNG volumes and continued expansion in integrated power, which further underpinned investor confidence.”
2. Sunoco LP (NYSE:SUN)
Dividend Yield as of June 30: 5.87%
Sunoco LP (NYSE:SUN) is a leading energy infrastructure and fuel distribution master limited partnership operating across 32 countries and territories in North America, the Greater Caribbean, and Europe.
On June 23, Barclays lifted its price target on Sunoco LP (NYSE:SUN) from $73 to $75, while reiterating an ‘Overweight’ rating on the shares. The revised target, which represents an upside of 9% from the current levels, comes after the analyst firm revised its estimates in the midstream and refining sector to reflect the updated commodity prices.
Sunoco LP (NYSE:SUN) started off 2026 with a strong first quarter, exceeding estimates in both profits and revenue. The company is targeting an adjusted EBITDA in the range of $3.1 billion to $3.3 billion for FY26, and remains on track to complete over $500 million of bolt-on acquisitions during the year. Moreover, Sunoco reiterated its commitment to target a multiyear dividend growth rate of at least 5%.
1. Frontline plc (NYSE:FRO)
Dividend Yield as of June 30: 9.00%
Topping our list of the Energy Stocks with Highest Dividends is Frontline plc (NYSE:FRO), a world leader in international seaborne transportation of crude oil. The company has one of the world’s largest fleets of VLCC and Suezmax tankers, and LR2/Aframax tankers.
On June 24, BTIG upped its price target on Frontline plc (NYSE:FRO) from $45 to $55, while maintaining a ‘Buy’ rating on the shares. The target boost, which reflects a robust upside of over 55% from the current levels, comes as part of the analyst firm’s broader research note on Oil and Tanker markets.
BTIG noted that although the 60-day waiver on Iranian oil sanctions has boosted oil exports from the Arabian Gulf, a lot more work is required before the conventional tanker fleet starts transporting cargo from the region. The firm also expects the crude tanker demand to strengthen in the post-war period, since major crude importers from Asia will look to replenish their inventories.
Notably, the cost of hiring tankers in the Persian Gulf has nearly doubled following the US-Iran MoU, as the region’s producers scramble to move the oil that had been stranded for months.
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