3 Ex-Dividend Stocks With Buy Ratings

NEW YORK ( TheStreet) -- The following stocks go ex-dividend Wednesday, meaning an investor must purchase the shares Tuesday to qualify for the next dividend payment: Calumet Specialty Products ( CLMT), CMS Energy ( CMS) and Plains All American Pipeline ( PAA).

Each of the stocks received a buy rating from TheStreet Ratings.

Calumet Specialty Products

The specialty hydrocarbons product company is scheduled to report first-quarter earnings on Wednesday. Analysts, on average, anticipate earnings of 49 cents a share on revenue of $887.66 million.

"We remain optimistic over the near-term outlook for the refining sector ahead of heavy seasonal maintenance and the shift from winter to summer grade gasoline," Bank of America Merrill Lynch analysts wrote in a Feb. 15 report. "Alongside Superior's access to advantaged crude, CLMT should benefit, but their hedged approach leads them more likely to underperform the more volatile 'pure plays', where exposure to margin volatility is intact. Accordingly, versus the largecap independent refining sector, we maintain our Neutral. We have updated our model following the 4Q results. Our PO moves up to $24, given higher distributable cash flow than expected."

Forward Annual Dividend Yield: 8.3%

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CMS Energy

The energy company reported on April 26 first-quarter earnings of $67 million, or 25 cents a share, down from year-earlier earnings of $135 million, or 52 cents.

"The stock continues to trade at a discount to its peer group on both this year's and next year's potential earnings despite having what we believe are better than average earnings and dividend growth prospects," Hilliard Lyons analysts wrote in an April 27 report. "We regard CMS as a good choice for total return utility accounts."

Forward Annual Dividend Yield: 4.2%


Plains All American Pipeline

The energy transportation company is scheduled to report first-quarter earnings on May 6. Analysts, on average, expect earnings of $1.50 a share on revenue of $8.21 billion in revenue.

"We reinstate coverage of PAA with an Outperform rating and $82 target price," Credit Suisse analysts wrote in an April 13 report. "We expect PAA to continue to outperform and deliver above-average distribution growth owing to its leverage to positive crude oil midstream fundamentals."

Forward Annual Dividend Yield: 5.1%

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-- Written by Alexandra Zendrian

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