Higher interest rates have been a double whammy on dividend stocks over the past several quarters. They increase companies' borrowing costs. On top of that, these higher rates weighed on the valuations of companies that pay higher-yielding dividends.

Higher rates make lower-risk income investments (think bonds and bank CDs) more attractive. As a result, dividend stock prices need to fall, pushing their yields higher. That higher yield compensates investors for their higher risk profiles.

The sell-off in dividend stocks looks like a great time to double up on high-quality opportunities. That's because rates should fall this year, which should take some of the weight off dividend stock prices. NextEra Energy (NYSE: NEE) and Brookfield Infrastructure (NYSE: BIPC)(NYSE: BIP) look like great stocks to double up on right now (if you have a low allocation) or buy if you don't own any shares yet.

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Source Fool.com