Do you want to lock in a high-yielding dividend stock? You might consider those that are struggling and near their 52-week lows. While stock prices typically drop because of problems with the underlying business, those issues can often prove temporary. And if you buy a stock at that depressed price and its payout remains intact, you can continue to benefit from that higher-than-typical dividend yield.

Three stocks trading near their 52-week lows right now and provide shareholders with a high yield are Medtronic (MDT -0.06%)Enbridge (ENB -1.83%), and AT&T (T -2.14%). Here's why these stocks might be worth buying today.

1. Medtronic

Medical device maker Medtronic hasn't made for an exciting investment this year. Up just 5% since January, it remains near its 52-week low of $75.77. The drop in share price has boosted its dividend yield, which now sits at 3.5% -- more than double the S&P 500 average of 1.6%. The company has an impressive track record of increasing its dividend payments for 46 consecutive years, and it looks to be on track to become a Dividend King in the future.

There are some concerns around its business, however, as the company's payout ratio is around 100%. But Medtronic's free cash flow still looked strong at $4.6 billion during its last fiscal year (which ended on April 28), which was 27% more than the $3.6 billion it paid out in dividends.

The company is also more optimistic about the future as a return to normal for hospitals and an easing of supply chain issues is leading to stronger numbers for its operations. In the three months ended July 28, sales were up 4.5% to $7.7 billion.

As a result, the company boosted its guidance, now projecting its adjusted earnings per share to come in between $5.08 and $5.16, up from its previous forecast of $5 to $5.10. While it's not a huge upgrade, it's a positive sign that things are going well for the healthcare company.

Trading at only 16 times its estimated future profits, Medtronic could make for a good investment to hold right now.

2. Enbridge

Pipeline company Enbridge normally pays a high dividend and it's usually a desirable stock for income investors. This year, however, the stock is down 13% and its yield is up to 7.8%. Enbridge's payout ratio (based on profits) is closing in on 190%, but it incurs high depreciation costs, which can make the dividend look riskier than it really is. Enbridge uses distributable cash flow (DCF) to gauge the safety of its payout. 

In its most recent quarter, for the period ended June 30, DCF totaled 2.8 billion Canadian dollars, up 1% year over year. For 2023, the company projects DCF per share of at least CA$5.25, and Enbridge says it is on track to meet that target. Based on that metric, its payout ratio would be less than 68%.

Investors have been selling the oil and gas stock lately amid news that Enbridge is planning to buy Dominion Energy for $14 billion as it looks to create the largest natural gas utility business in North America. CEO Greg Ebel said in a statement, "Adding natural gas utilities of this scale and quality, at a historically attractive multiple, is a once-in-a-generation opportunity." Investors, however, are concerned about the company taking on more debt at a time when interest rates are high and could still be rising.

Trading near its 52-week low of $32.90 and with Enbridge unlocking some new growth opportunities through a big acquisition, the stock may be a steal of a deal given its high yield. While there is some risk here with the potential for more debt, the transaction should make Enbridge a better buy for the long haul.

3. AT&T

Telecom giant AT&T has seen its stock decline 21% this year and is trading barely higher than its 52-week low of $13.43. The stock's dividend yield of 7.6% provides investors with a huge payout. And the good news is that with projected free cash flow of $16 billion this year, the company is in a good position to cover its dividend payments, which cost it around $8 billion on an annual basis.

But a big reason dividend investors are shying away from AT&T is the potential exposure it has with respect to cleaning up lead-covered cables. It could result in billions in unexpected expenses for the company. Many investors, however, may already be fearing the worst, leading to the stock's sizable sell-off this year.

It's still too early to know for sure how much it may cost. Some analysts project it may be as much as $4 billion. But given that it could take years for any clean-up to take place, it may not have as crippling an impact on the business as many investors may be anticipating.

AT&T could make for an appealing contrarian buy as a result of this bad news. With a high yield and the business still on track to hit its target for free cash flow this year, this could be an underrated stock to buy right now.