One nice result from the volatility in the markets over the past seven weeks is to lower prices on the stocks that investors who need consistent and safe income may be looking to buy. The driving down of interest rates may have kept the economy from totally blowing up, but it has been a burden on older investors looking to generate solid income. Ten years ago, certificates of deposit were yielding 5% and more, now investors are thrilled to get 1.25%, and the thought of buying Treasury bonds yielding 2.60% for 30-year debt is hardly appealing.

We screened the Merrill Lynch research database, not only for the top dividend yielding stocks rated Buy, but also for the stocks with the analysts lowest volatility risk ratings. We came up with four companies that have been around for years that will continue to pay and increase dividends.

AT&T

This company will continue to serve customers regardless of overall market and economic conditions. AT&T Inc. (NYSE: T) is the world’s largest provider of pay TV, with TV customers in the United States and 11 Latin American countries. In the United States, the AT&T wireless network has the nation’s self-described strongest 4G LTE signal and most reliable 4G LTE.

The company also helps businesses worldwide serve their customers better with mobility and highly secure cloud solutions. With shares trading at a very cheap 12.5 times estimated 2016 earnings, the company continues to expand its user base, and strong product introductions from smartphone vendors have not only driven traffic, but increased device financing plans.

The company announced recently it is working with Salesforce.com to connect Internet of Things data from AT&T’s solutions into Salesforce’s Customer Success Platform. By connecting AT&T M2X into Salesforce’s Service Cloud, companies can automatically create and route service requests, cases or tickets through pre-built workflows.

While fourth quarter earnings were in line with forecasts, and slightly below the Wall Street estimates, a change in accounting for the entertainment group lowered revenue/EBITDA by $300 million for the quarter. Merrill Lynch notes that this knocked three cents off the bottom-line numbers. So all in all, a solid quarter, and another reason for conservative accounts to own the stock, especially with solid DirecTV additions and mid-single-digit earnings growth estimated for 2016.

AT&T investors receive a huge 5.25% dividend. The Merrill Lynch price target for the stock is $40, and the Thomson/First Call consensus estimate is $37.54. Shares closed Friday at $36.57.

Altria

The maker of tobacco products and wine has posted very solid numbers, and the rest of 2016 looks outstanding. Altria Group Inc. (NYSE: MO) is a top mega-cap consumer discretionary stock to buy on Wall Street, and the company’s Marlboro brand remains one of the most recognizable in the world.

Many Wall Street analysts concede that the stock has solid downside support owing to the generous dividend yield, which remains at a huge premium relative to the 10-year Treasury rate. Cash flow generation and the return of cash to Altria shareholders remain key facets of the company’s total shareholder return, and the analysts expect support of the strong dividend, which they believe will continue to climb, and strong share repurchase activity.

To diversify away from cigarettes and cigars, Altria has expanded its portfolio into new categories like wine, e-cigarettes and a 27% stake in brewer SABMiller, which together generated nearly 10% of its pre-excise tax revenue last quarter. With SABMiller being acquired, Altria will have a huge stake in the world’s biggest beer company.

While fourth-quarter earnings came in slightly below estimates for the first time in almost two years, the company expects 2016 full-year adjusted diluted earnings per share to be $3.00 to $3.05, which excludes the restructuring charges of approximately $0.05 per share. This is positive growth, and very solid in an otherwise low growth world.

Altria investors receive a 3.73% dividend. Merrill Lynch has a $66 price target, and the consensus target is $65.14. The stock closed Friday at $60.56.
Entergy

Merrill Lynch recently upgraded this higher yielding company. Entergy Corp. (NYSE: ETR) is an integrated energy company engaged primarily in electric power production and retail distribution operations. It owns and operates power plants with approximately 30,000 megawatts of electric generating capacity, including nearly 10,000 megawatts of nuclear power, making it one of the nation’s leading nuclear generators. Entergy delivers electricity to 2.8 million utility customers in Arkansas, Louisiana, Mississippi and Texas and has annual revenues of more than $12 billion.

Many analysts like the position of the company’s plants, as they supply some of the petrochemical industry along the Gulf Coast. Petrochemical plants and liquefied natural gas export facilities are springing up all across the central Gulf coast. For the petrochemical industry, the boom is driven by demand, not supply, and so the current lower gas prices actually help this growth trend, which has been a solid revenue silo for Entergy.

The company recently posted very solid earnings, and the guidance for the rest of the year was very good, despite some concerns over industrial sales. With a higher dividend than many of its peers, the company can be bought and put away for the long haul.

Entergy investors receive a 4.66% dividend. The $78 Merrill Lynch price target is higher than the consensus target of $73.59. The stock closed Friday at $72.98.

Procter & Gamble

Despite a strong rally over the past six months, the stock is still trading lower than it was this time last year, in part because Procter & Gamble Co. (NYSE: PG) has a very large 65% of sales directed to foreign customers. That should improve as the dollar run looks to be slowing down. This is a solid consumer staples stock, especially for conservative investors to consider. The company sells lots of run-of-the-mill household items that are essential for everyday life, and it is not content to rest on its laurels.

The company actually is innovative in its product development process, which helps ensure future growth and cash flow. This should provide investors years of steady growth and dividends. While currency headwinds have weighed on recent earnings and projections, the dollar may be topping out and that would bode well for the future.

Procter & Gamble posted very solid fourth-quarter results in January and, despite earning expectations that have been lowered somewhat, Merrill Lynch feels comfortable that the stock can continue the current positive momentum.

Shareholders receive a 3.43% dividend. Merrill Lynch has as $85 price target. The consensus target is $83.80. Shares closed Friday at $81.79.

For worried investors that need an income stream, all these top stocks now make good sense for growth and income portfolio. The total return potential is solid, and the downside risk is far less than with momentum stocks. Plus, add in the still very oversold status of the overall market, and the upside could be stellar for patient investors.

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