 With markets volatile bouncing around the 3,000 to 3,200 range for the last two weeks and fears rising that a second wave of coronavirus cases will force a new round of economic shutdowns, investors are giving a second look to some strong defensive stocks. Were talking about stocks with classic defensive profiles: high yielding dividends, combined with a high upside potential. Using TipRanks database, weve pinpointed three such stocks. Some are familiar names, some less so. All three offer investors a fine combination of defensive traits: dividends yielding over 8, an upside potential starting at 25, and Strong Buy consensus rating from Wall Streets analyst corps. Archrock, Inc. AROCWell start with Archrock, a natural gas midstreaming company. The midstream sector connects gas extraction with the final customer; midstream companies control the pipelines, transport, and storage facilities that the natural gas industry depends on. Archrock has operations in the lower 48 states, providing the compression equipment that liquifies natural gas for transport and storage.The economic shutdowns in Q1 forced a decline in demand, and Archrocks Q1 EPS was a down sharply sequentially, from 27 cents to 12 cents. At the same time, revenues beat both the estimates and the year-ago number. At 249.7 million, the top line was up 5.7 year-over-year.A strong free cash flow and heavy-handed actions to cut costs and shore up liquidity allowed AROC to maintain its dividend payment for Q1, and the company paid out 14.5 cents per share common share back in May. This was unchanged from Q4, and up 10 from the first quarter of 2019. Its a measure of Archrocks underlying soundness and commitment to the dividend that the company has kept up the payment even during the corona crisis. At 58 cents per share annualized, AROCs dividend yield is an impressive 8.54.5-star analyst T J Schultz, of RBC Capital, believes AROC has a firm foundation to move forward. He writes of the stock, We expect lower associated gas production to have an impact on AROC utilization into 2021, but we think manageable debt leverage and ample dividend coverage provide some flexibility... we think the riskreward is decent at current levels given AROCs liquidity, lack of near-term debt maturities, and ability to pull additional levers to manage liquidity further if needed.Schultz Buy rating on the stock is supported by an 11 price target, which suggests an impressive 68 upside potential for the year. To watch Schultz track record, click hereOverall, the Strong Buy analyst consensus rating on AROC is unanimous, based on 3 recent Buy reviews. Shares are priced at 6.55, and the 9.17 average price target implies a one-year upside of 40. See Archrock stock analysis at TipRanksAltria Group, Inc. MOThe next stock on our list is a classic sin stock. Altria is a tobacco company, the maker of Marlboro cigarettes. Tobacco companies have a long history of outperforming market downturns, and the reason is psychological. People will make big changes when financial hardship hits. Theyll give up luxuries and large purchases, and even delay home and repairs but theyll keep buying small pleasures like cigarettes. Its a quirk that has helped make MO a strong defensive play even as overall smoking rates decline.A look at the Q1 numbers bears out Altrias solid position. Revenues and earnings the top and bottom lines both beat the estimates. Revenues, at 5.05 billion, were 9 above forecasts, and 15 over the year-ago number. EPS came in at 1.09, 12 higher than expected and up almost 7 year-over-year.Wise diversification from the company has also helped. Altria has taken strong positions the cannabis industry, the vaping sector, and in alcohol, with large-scale investments in Cronos Group, JUUL Labs, and AB InBev. These moves mark a shift for Altria, from pure-play tobacco to the full spectrum of vices.Altrias sound niche has allowed the company to keep its solid dividend with a 12-year history of reliable payments and steady growth up to date. The company declared its next payment for July 10, of 84 cents per common share. This gives and annualized rate of 3.36 per share, and a yield of 8.56. The 77 payment ratio is high, showing a commitment to returning profits to shareholders but it also shows that the company can sustain the dividend at current income levels.Piper Sandler analyst Michael Lavery sees Altrias overall position as favorable, even during the pandemic. He states his belief that We believe consumption may have actually increased during the pandemic, as smokers spend more time away from offices, restaurants, and places with smoking bans. Lower income consumers have also benefited from increased unemployment benefits and the government stimulus... Altria has a vast database of adult US smokers, and it has data at the zip code level to inform pricing and couponing strategies. Altria can monitor and manage mix with its revenue management system on a very targeted basis.Laverys Buy rating on the stock is backed by his 57 price target, which implies a robust upside for MO shares of 45. To watch Laverys track record, click hereWith 6 Buy ratings set in recent weeks, MO shares have a Strong Buy from the analyst consensus rating. The 54.50 average price target suggests an upside of 39 from the 39.24 current trading price. See Altria stock-price forecast on TipRanksCedar Fair Entertainment FUNLast on our list is something different, an amusement park company. Cedar Fair Entertainment takes its name from its most famous asset, the Cedar Point park located in Sandusky, Ohio. Several generations of Midwestern kids have grown up familiar with an out-of-the-way town on Lake Erie, and knowing Cedar Point as a sort of pilgrimage. The company also owns 13 other amusement parks and water parks, and 5 resort hotels, in the US and Canada.It was Cedar Fairs good luck that the coronavirus outbreak hit when it did. The amusement park business, especially in northern climes, is highly cyclical with the seasons, and the first quarter, in mid-winter, is the company typically sees EPS turn negative as parks are closed and maintenance expenses rise. So, while FUNs Q1 EPS loss of 2.15 was serious, it was also in-line with the stocks historical pattern of earnings reports.And to top that, Cedar Fair still has Q3 ahead normally its strongest of the year. With economies starting to reopen, and social distancing rules loosening after the recent urban unrest, the company looks forward to a more normal summer. While there is still a fear the COVID-19 will make a second wave, there is also the recognition that health officials have a better handle on how to treat and contain the disease and a growing realization that coronavirus may not be as dangerous as was first thought. These factors bode well for the amusement park industry.What bodes well for income-minded defensive investors is FUNs dividend. The company has an 8-year history of making reliable, steadily increasing payments, and has kept up those payments even during the pandemic. At 3.74 per share annually, the dividend gives a yield of 13.6, much higher than its peer companies. The dividend is paid quarterly, at 93.5 cents per share.5-star analyst Benjamin Chaiken, with Credit Suisse, lists sever reasons why FUN is a stock to buy. He writes, We think current levels offer a very attractive entry point with FUN trading at 8x our 2021 EBITDA estimate. We think FUN will benefit from 1 2021 being mis-modeled, 2 drive-to nature of parks, of which we are beginning to see accelerating data points and 3 cost savings on labor...His Buy rating on the stock gets support from his 37 price target, which implies a healthy 34 growth over the coming months. To watch Chaikens track record, click here.The Strong Buy analyst consensus rating on FUN is based on 8 reviews, breaking down to 7 Buys and just one Hold. The 38.63 average price target suggests a premium of 40 from the current share price of 27.50. See Cedar Fair stock analysis on TipRanksTo find good ideas for dividend stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights. 