With the three-month treasury rate now over 4%, there's a real opportunity cost of investing in the stock market.

For any asset to be worth allocating your hard-earned savings toward, it needs to have a path toward producing a total return above 4%. Otherwise, it's not worth the risk.

One of the simplest ways of justifying an investment is if a stock's dividend yield is above the risk-free rate. At that point, the passive income will be able to keep up with the return of a Treasury bill, with the added potential upside (and downside) of the equity investment. Dominion Energy (NYSE: D), Enbridge (NYSE: ENB), and Kinder Morgan (NYSE: KMI) are three high-yield dividend stocks that all have a dividend yield above the risk-free rate. Here's why each company is worth considering in today's rising interest rate environment. 

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Source Fool.com