These 2 High-Yield Dividend Stocks Are Some of the Safest Buys Right Now

The Fed just reminded everyone that the path to lower rates won't be a straight line. In late October, policymakers delivered a second cut this year. The benchmark rate was trimmed by 0.25 points to about 3.9%. They aimed to support growth and hiring even though inflation remains above the 2% goal.

Shortly after, two Fed officials publicly pushed back against another December reduction. They argue that future moves will depend heavily on incoming data rather than any preset easing script. Markets took the hint quickly as the dollar has bounced, and gold has slumped.

That same repricing has pushed investors to focus more on dependable cash flow and balance sheet strength. The search for quality income is undoubtedly why Triumvirate recently highlighted Merck (MRK) and Duke Energy (DUK) as two of the top high-yield stocks to own right now. 

So in a market full of high-yield landmines, what exactly sets Merck and Duke Energy apart as two of the safest dividend stocks income investors can buy right now? Let’s find out.

Merck & Company (MRK)

Merck & Co., with roughly $252.7B in market capitalization, develops human and animal health therapies spanning oncology, vaccines, infectious diseases, and cardiometabolic care. Its dividend profile fits neatly with the “safe high-yield” thesis, with a forward annual dividend of $3.24 per share and a forward yield of 3.09%, plus a next ex-dividend date scheduled for 12/15/25 and a payout ratio of 37.38%.

MRK sits at $102.81 as of Dec. 3, up 3.2% year-to-date (YTD) and 0.82% over the last 52 weeks.

Its valuation picture shows investors paying 12.12x trailing earnings and 0.96x on a PEG basis versus sector medians of 17.87x and 1.86x, signaling a discount multiple for a business still producing solid growth.​

Its dividend looks even sturdier when set against the earnings engine. This latest quarterly report, released for the period ending 09/25, showed total worldwide sales of $17.3B, up 4% year-over-year (YoY), or 3% excluding currency effects. It highlighted KEYTRUDA as the main driver, with sales of $8.1B, climbing 10% reported and 8% on a constant-currency basis. This also broke out WINREVAIR revenue at $360M, up 141%, and CAPVAXIVE sales of $244M, underscoring depth beyond the flagship oncology franchise. 

It noted that GARDASIL/GARDASIL 9 slipped to $1.7B, down 24%, or 25% excluding FX, while Animal Health grew 9% to $1.6B, or 7% in constant currency. This translated into GAAP EPS of $2.32 and non‑GAAP EPS of $2.58, with both figures including a $0.10 per‑share charge tied to a milestone payment to LaNova. It also beat the quarter’s $2.36 consensus by $0.22, a 9.32% upside surprise.​

That strength gives Merck room to keep investing aggressively. This strategic push includes a $9.2B all‑cash deal for Cidara Therapeutics (CDTX), centered on CD388, a long‑acting antiviral in Phase 3 trials aimed at providing season‑long protection against influenza A and B with a single dose and potentially redefining flu prevention. It also extends into neurology. The company plans to present first‑in‑human data for Alzheimer’s candidates MK‑2214 and MK‑1167 at CTAD 2025, and MK‑2214 has already received Fast Track designation from the FDA for targeting abnormal tau aggregation in the brain.

That pipeline supports forward estimates that call for Q4 2025 EPS of $2.07 and full‑year EPS of $8.99, up 20.35% and 17.52% YoY, respectively. This justifies a consensus “Moderate Buy” rating across 26 analysts and an average price target of $104.83, which implies roughly 2% upside to the current price.

Duke Energy (DUK)

Duke Energy Corp. generates and delivers electricity and gas to customers across the Carolinas, Florida, the Midwest, and beyond, and carries a market value near $93.9B. Its income appeal rests on a forward annual dividend of $4.26 per share with a 3.44% yield, backed by a payout ratio of 64.11% and a dividend payable date on 12/16/25 that reinforces the stock’s reliability as a regulated-utility income source.

Price sits at $118.95 as of Dec. 3, with DUK up 10% year to date and 5% over the last 52 weeks.

The company trades at 3.17x sales and 8.63x cash flow versus sector medians of 2.60x and 8.90x, a setup that reflects a modest premium on revenue but slightly cheaper cash‑flow pricing for a large‑cap utility of this scale.​

This fundamental backdrop is increasingly shaped by long‑term grid investment. It now includes a proposed consolidation and infrastructure plan in North Carolina that was announced in November 2025 and aims to boost reliability while supporting economic growth. The initiative targets upgrades that harden the grid against storms and enhance existing plants to improve efficiency. That plan outlines new energy infrastructure tailored to rapid population growth, advanced manufacturing, and data center demand.

This operational story shows up clearly in recent quarterly results. It lists September 2025 sales of $8.542B, representing YoY growth of 13.77% on the top line. This also shows net income of $1.421B for the quarter, with profit rising 44.41% from the prior year as earnings scaled faster than revenue. 

The earnings‑per‑share line for the quarter ending 09/25 came in at $1.81 versus a $1.74 estimate. This produced a $0.07 beat and a 4.02% positive surprise. Their latest estimates point to Q4 2025 EPS of 1.57 versus 1.66 a year earlier, translating into a ‑5.42% YoY decline. However, its full‑year 2025 EPS of 6.33 compared with 5.90 in the prior year implies a 7.29% increase in annual earnings.​

Duke Energy also benefits from supportive analyst sentiment. It carries a consensus “Moderate Buy” rating across 24 covering analysts, and the group’s average price target stands at $137.37. That target implies roughly 15% upside from the current share price.

Conclusion

MRK and DUK both look built for investors who want income they can trust, not just chase. Their dividends are covered by growing cash flows, disciplined payout ratios, and credible growth plans that regulators and analysts are already watching closely. A quick rip higher looks unlikely, but the mix of mid‑single‑digit upside, steady earnings, and 3%+ yields still points to a slow, upward grind rather than a breakdown. Long‑term income seekers can live with that kind of consistency.