Who says high yield means low growth? While that may sometimes be true, there are plenty of exceptions.

Sometimes, high yield can translate to exceptionally high growth prospects. That could be the case with these four high-yield dividend stocks that Wall Street thinks will soar 45% or more in 2024.

1. Sasol Ltd

Sasol Ltd (SSL 1.02%) is a global specialty chemicals and energy company headquartered in Johannesburg, South Africa. It offers a juicy dividend that currently yields over 9.2%.

This high yield is due, in part, to Sasol's dismal stock performance. The company's share price has plunged nearly 40% over the last 12 months. This steep decline has also given Sasol what appears to be a dirt cheap valuation, with a forward earnings multiple of 7.8.

Only one analyst surveyed by LSEG in January covers Sasol. However, this lone wolf has great expectations that the stock will deliver a strong rebound in 2024. The 12-month price target for Sasol is nearly double the current share price.

2. Vodafone Group

Anyone living in Europe or Africa is probably quite familiar with Vodafone Group (VOD 0.12%). It's a leading telecommunications provider in both regions. Vodafone is also a favorite for some income investors, thanks to its sky-high dividend yield of 10.9%.

While many stocks flourished last year, Vodafone floundered. Its shares have fallen more than 13% over the last 12 months.

The company's profits sank in several key European markets. Vodafone has also experienced turnover in its executive ranks.

However, all three analysts surveyed by LSEG in January rate the stock as either a buy or a strong buy. The consensus 12-month price target is more than 61% above Vodafone's current share price.

3. Crescent Point Energy

Crescent Point Energy (CPG 0.78%) is an oil producer based in Calgary, Alberta, Canada. The company offers a base dividend that currently yields 4.3%. In addition, Crescent Point returns roughly 60% of its excess cash flow to shareholders through a variable dividend.

The stock has eked out a 5% gain over the last 12 months. However, Crescent Point Energy has been a huge winner over the last three years, with its share price nearly tripling.

As is the case with Sasol, only one analyst surveyed by LSEG covers Crescent Point Energy. This analyst's 12-month price target for the stock reflects an upside potential of 59%.

4. Icahn Enterprises LP

Icahn Enterprises LP (IEP -0.12%) bears the name of its famous founder, Carl Icahn. The Florida-based holding company operates businesses in a wide range of industries, including automotive, energy, investments, and real estate. Its dividend yield stands at a jaw-dropping 22.3%.

Last year, Icahn Enterprises slashed its dividend in half. The move didn't negatively impact its yield very much because the company's share price nosedived. Over the last 12 months, Icahn Enterprises stock has plummeted 65%.

The lone analyst surveyed by LSEG who set a price target for Icahn Enterprises, however, is looking for brighter days ahead. That target is 45% above the current share price. Although that isn't enough to enable Icahn Enterprises to regain its losses over the past year, it's nonetheless a big jump -- if the stock can climb as much as the analyst projects.

Are these stocks good picks?

All four of these stocks certainly offer intriguing dividend yields. And the analysts who like the stocks have their reasons for being bullish. I think, though, that investors can find better stocks to buy for the new year.