Companies that have raised their dividend payout each year for at least 50 consecutive years are called Dividend Kings. Typically, Dividend Kings enjoy multiple competitive moats and generate stable cash flows across business cycles, allowing them to raise dividends consistently over time. A widening earnings base and consistent dividend hikes have enabled Dividend Kings to deliver outsized returns to shareholders over time. However, according to one Wall Street analyst, two top Dividend Kings look overvalued right now. Let’s see why. Jefferies Downgrades Two Dividend KingsLast week, investmen…