NEW YORK ( TheStreet) -- These eight stocks from varied sectors have dividend yields ranging from 3.1% to 5.4%. Based on latest quarterly results and attractive dividend yields, these stocks have potential upsides of 6% to 26%. These stocks also have a strong dividend payout record. The average buy recommendation for these stocks is 45%, while average hold rating is 50%, based on a Bloomberg consensus.


8. Procter & Gamble ( PG), focuses on providing consumer packaged goods and its products are sold in more than 180 countries through mass merchandisers, grocery stores, membership club stores, drug stores, high-frequency stores and neighborhood stores. It has on-the-ground operations in approximately 80 countries.

The company has a dividend yield of 3.12% and recently announced increasing its quarterly dividend from 48.18 cents to 52.5 cents per share on its common stock and on Series A and Series B ESOP Convertible Class A Preferred Stock. The dividend indicates 9% increase over the year-ago quarter. For 55 consecutive years, PG has been raising its dividend at an annual compound average rate of approximately 9.5%.

For the third quarter of 2011, the company recorded 5% increase in net sales to $20.2 billion from the year-ago quarter. Diluted earnings per share were up 16% to 96 cents during the quarter. For the upcoming fourth quarter, net sales growth is pegged between 8% and 10%, while earnings per share ranges from 13% to 20%.

Of the 28 analysts covering the stock, 75% recommend a buy while the remaining rate a hold. There are no sell ratings on the stock. Data from Bloomberg has analysts forecasting the stock gaining 11.8% to $71.79 in the next 12 months.

7. Avon Products ( AVP), creates, manufactures and markets beauty and non-beauty-related products. The company has divided its product categories into beauty, fashion and home. It conducts its international operations through subsidiaries in 63 countries and territories outside the U.S. Besides, it has a distributor network in 41 other countries and territories.

The company is trading at a dividend yield of 3.29%. Recently, Avon declared and paid a regular quarterly dividend of 23 cents on its common stock. In February, the company raised its regular quarterly dividend by 4.5%. In the past five years, Avon's dividend yield grew 5.8%.

For the first quarter of 2011, the company reported revenue of $2.6 billion, up 7% from the year-ago quarter. Meanwhile, gross margin expanded 210 basis points to 63.9%. Net income increased to $143.6 million, or 33 cents per share, from $42.5 million, or 10 cents per share, in the first quarter of 2010. Cash and cash equivalents at the end of the quarter stood at $1.01 billion.

Of the 16 analysts covering the stock, 31% recommend a buy and 63% rate a hold. Data from Bloomberg has analysts forecasting the stock gaining 16.7% to $33.00 in the upcoming 12 months.

6. H.J. Heinz ( HNZ), along with its subsidiaries, engages in the manufacture and marketing of a range of food products globally. Its main products include ketchups, condiments and sauces, frozen foods, soups, beans and pasta meals, infant nutrition and other food products. The company operates in five segments: North American Consumer Products, Europe, Asia/Pacific, U.S. Foodservice, and Rest of World.

The company is trading at a dividend yield of 3.51% and recently increased its common stock dividend to 48 cents from 45 cents, payable July 10, 2011. The new annualized dividend totals to $1.92 per share, indicating 12 cents or 6.7% increase over the previous year.

Net sales for the fourth quarter of 2011 grew 6% to $2.89 billion with gross margin expanding 90 basis points to 36.3%. Net income rose 16.4% to $224 million from the year-ago quarter. For fiscal 2011, sales grew 2% to $10.7 billion, while net income soared 14.4% to a record $990 million. The company's operating free cash flow of $1.26 billion increased 16.7% from the previous year. For the upcoming fiscal year, Heinz estimates earnings per share on constant currency basis to range from $3.24 to $3.32, excluding the cost of its one-time productivity initiatives.

Of the 20 analysts covering the stock, 50% recommend a buy and 45% rate a hold. Analysts polled by Bloomberg expect the stock to gain an average 4.7% to $56.64 in the upcoming 12 months.

5. CMS Energy ( CMS), an energy company operating in Michigan, has business segments classified as: electric gas utility and enterprises, non-utility operations and investments. The company operates through its wholly owned subsidiaries Consumers Energy Company -- an electric and gas utility; and CMS Enterprises Company -- a domestic independent power producer (IPP).

The company is trading at a dividend yield of 3.67% and recently declared 21 cents per share dividend on its common stock. Consumers Energy declared regular quarterly dividend on both series of its preferred stock. The company has declared dividends of $1.04, $1.125, and 96.9 cents per share on preference share A, preference share B and its Quarterly Income Preferred Securities, respectively.

Net income for the first quarter of 2011 was reported at $135 million, or 52 cents per share, compared to $85 million, or 34 cents per share, in the same quarter of 2010. Operating revenue increased 4.5% to $2.05 million. At the end of the quarter, cash balance stood at $801 million versus $755 million in the first quarter of the prior year. For full year 2011, CMS has reaffirmed its earnings per share guidance at $1.44, up 6% from 2010.

Of the 14 analysts covering the stock, 64% recommend a buy and the remaining rate a hold. There are no sell ratings on the stock. Data from Bloomberg has analysts forecasting the stock gaining 6.9% to $21.11 in the upcoming 12 months.

4. Alliant Energy ( LNT) is an energy services provider operating as a regulated investor-owned public utility holding company. The company's primary focus is providing regulated electricity and natural gas services to approximately 1 million electric and approximately 412,000 natural gas customers in the Midwest through its two public utility subsidiaries. Its utility business is divided into three main segments: electric operations, gas operations, and others.

The company has a current dividend yield of 4.14%. In April this year, the company declared and paid a regular quarterly dividend of 42.5 cents per share on its common stock. Meanwhile, in June the company's utility subsidiaries paid stock dividends on their preferred stocks. The company declared dividends for both its Wisconsin Power and Interstate Power light businesses ranging from 40.6 cents per share to $1.55 per share

Net income for the first quarter of 2011 was reported at $72.2 million, or 65 cents per share, versus $43.4 million, or 39 cents per share, in the year-ago quarter. Total revenues increased 6.2% to $945 million from the first quarter of 2010. For fiscal 2011, the company has raised its earnings per share guidance to $2.75 to $3.00 from the earlier estimate of $2.70 to $3.00, excluding an impairment charge related to a wind site in Wisconsin.

Of the 10 analysts covering the stock, 50% rated a buy and the rest a hold. There are no sell ratings on the stock. A Bloomberg poll foresees the stock gaining an average 6.5% to $43.00 in the upcoming 12 months.

3. Leggett & Platt ( LEG), an international diversified manufacturer, conceives, designs and produces a range of engineered components and products found in many homes, offices, retail stores and automobiles. The company structures its operations into 19 business units, which are further categorized into 10 groups under four segments: residential furnishings, commercial fixtures & components, industrial materials, and specialized products.

The company has a dividend yield of 4.37%. For the second quarter of 2011, LEG declared a dividend of 27 cents per share, up 3.8% from the same quarter of the prior year, payable July 15, 2011. For 40 consecutive years, the company has been increasing its dividend at a compound annual growth rate of 14%.

For the first quarter of 2011, sales grew 10% to $896 million from the year-ago quarter. Diluted earnings per share stood at 30 cents. During the quarter, the company repurchased 5.4 million shares of its stock at an average $23.29 per share, and issued 1.8 million shares through employee benefit and stock purchase plans. Earnings per share for fiscal 2011 are estimated between $1.25 and $1.50, while sales are seen ranging from $3.5 to $3.8 billion, rising 4% to 13% over the 2010 level.

Of the seven analysts covering the stock, 29% recommend a buy, whereas 57% rate a hold. Analysts polled by Bloomberg expect the stock to gain an average 26.5% to $30.00 over the next 12 months.

2. Entergy ( ETR), is an integrated energy company engaged in electric power production and retail distribution. The company's activities are divided into two main segments: utility and non-utility nuclear. Besides, it operates in the non-nuclear wholesale assets business. Entergy owns and operates power plants in the U.S. with about 30,000 megawatt of aggregate electric generating capacity.

The company has a dividend yield of 4.94%. For the first quarter of 2011, the company paid dividend of $148.7 million on its common stock versus $141.9 million in the year-ago quarter. Meanwhile, dividend on preferred stock remained constant at $5.01 million.

For the first quarter of 2011, net earnings improved 16.3% year-over-year to $248.7 million, or $1.38 per share. In the first quarter of 2010, earnings per share stood at $1.12. The company estimates its 2011 earnings per share to range from $6.35 to $6.85. On a longer-term basis, Entergy estimates utility net income to grow at 6% to 8% compound annual net income growth rate over the period 2010-2014.

Of the 19 analysts covering the stock, 26% recommend a buy, whereas 68% rate a hold. Analysts polled by Bloomberg expect the stock to gain an average 6.3% to $73.79 over the next 12 months.

1. Reynolds American ( RAI), a holding company, operates in two segments: RJR Tobacco and American Snuff. The company's operating subsidiaries in the U.S. are cigarette manufacturer Reynolds Tobacco Company and smokeless tobacco products manufacturer American Snuff Company.

The company has a dividend yield of 5.40%. Reynolds went ex-dividend recently and paid its shareholders a dividend of 53 cents per share. The company has announced to pay a dividend of 53 cents per share ($2.12 per share on annualized basis) on July 1, 2011, indicating an 8% increase from 49 cents per share paid through the end of 2010.

Net sales for the first quarter of 2011 was reported at $1.99 million, up 0.3% from the year-ago quarter. Net income stood at $353 million, or 60 cents per share, compared to $82 million, or 14 cents per share, in the same quarter of the prior year. Total growth bands increased to 16.3% from 13.6% in the year-ago quarter. Looking ahead, the company reaffirms adjusted earnings per share to range from $2.6 to $2.7, excluding implementation costs related to plant closures and tax items.

Of the 11 analysts covering the stock, 36% assign a buy rating, while 55% rate a hold. Analysts polled by Bloomberg expect the stock to gain an average 2.2% to $39.00 in the upcoming 12 months.

>>To see these stocks in action, visit the 8 Attractive Dividend-Yield Stocks portfolio on Stockpickr.