Wall Street analysts can be -- and often are -- wrong. However, when there's a lot of agreement among analysts about a given stock, it's worth exploring why.

Generally speaking, analysts don't get overly excited about stocks with exceptionally high dividend yields. There are some exceptions, though. Here are three high-yield dividend stocks that Wall Street absolutely loves right now.

1. British American Tobacco

Only two analysts surveyed by Refinitiv in November cover British American Tobacco (BTI 1.22%) (BAT). But they both really like the tobacco stock, rating it as a strong buy. The average 12-month price target for BAT is nearly 35% above its current share price.

What's the attraction of BAT? For one thing, the stock is performing quite well in the midst of broad economic uncertainty. The tobacco-giant's shares are up a little year to date, while the S&P 500 is down significantly.

In BAT's half-year update in July, the company reported year-over-year revenue growth of 5.7%. More importantly, BAT's new product categories generated sales growth of 45% and made up almost 15% of total revenue. These new products are exclusively non-combustible brands. 

Of course, analysts have to especially like BAT's dividend. Its dividend yield currently stands at nearly 7.7%. 

2. Devon Energy

Twenty-three of the 32 analysts surveyed by Refinitiv who cover Devon Energy (DVN 0.74%) rate the stock as either a buy or strong buy. The other nine think the midstream energy stock is one to hold. What's more, the consensus price target for Devon reflects an upside potential of 16%.

Devon has certainly been a huge winner so far this year. Its shares have soared well over 50%, thanks to a combination of solid demand for oil and gas and limited supply.

There's only one fly in the ointment with Devon Energy: The company's dividend is headed lower. Devon's dividend has two components -- a fixed portion and a variable portion that's funded by excess free cash flow. Lower oil prices in Q3 caused free cash flow to dip somewhat, resulting in a lower variable dividend.

However, income investors really don't have anything to worry about. Devon's dividend yield remains sky-high at 7.3%. The company is also still on track to generate record free cash flow this year.

3. Enterprise Products Partners

There's a high-yield dividend stock in the energy sector that Wall Street loves even more than Devon. Twenty-two of the 24 analysts surveyed by Refinitiv who cover Enterprise Products Partners (EPD 0.99%) rate the stock as a buy or a strong buy. Only two analysts recommend holding Enterprise, rather than buying it. The consensus price target for the stock is nearly 28% above the current share price.

As a midstream energy company, Enterprise doesn't directly benefit as much from higher commodity prices as oil and gas producers do. However, the stock has nonetheless performed really well this year and has handily beaten the overall market.

The European Union decided last summer that natural gas used in electricity generation or cooling and heating homes should be categorized as a clean energy source. That was great news for Enterprise Products Partners, which operates pipelines that transport natural gas and natural gas liquids. 

Enterprise has increased its dividend for 24 consecutive years. Its dividend yield now tops 7.6%. With its consistently well-run business, strong financial position, and encouraging future prospects, this high-yield dividend stock appears to be the no-brainer pick that many Wall Street analysts believe it is.