The market may be trading close to a record high, but not all shares are faring so well.

For example, the three ASX dividend shares in this article are down heavily over the past 12 months.

While this is disappointing for shareholders, it could prove to be a buying opportunity for the rest of us according to brokers. Here's what you need to know about them:

APA Group (ASX: APA)

This leading Australian energy infrastructure company's shares are down 17% over the past 12 months.

The team at Macquarie sees this as a buying opportunity for income investors. It has an outperform rating and $8.02 price target on its shares. This implies potential upside of almost 18% for investors between now and this time next year.

In addition, the broker is expecting some big dividend yields. It is forecasting dividends of 57 cents per share in FY 2025 and then 57.5 cents per share in FY 2026. Based on the current APA Group share price of $6.82, this equates to 8.35% and 8.4% dividend yields, respectively.

Endeavour Group Ltd (ASX: EDV)

Another beaten down ASX dividend share that is being tipped as a buy is Endeavour Group. It is the owner of popular liquor store brands Dan Murphy's and BWS. In addition, it owns the ALH Hotels business, which has over 350 licensed venues across the country.

Its shares have lost almost a quarter of their value since this time last year. This could be a compelling buying opportunity according to the team at Goldman Sachs. The broker has a buy rating and $5.50 price target on its shares. This implies potential upside of 31% for investors from current levels.

As for income, Goldman has pencilled in fully franked dividends of 20 cents per share in FY 2025 and then 22 cents per share in FY 2026. Based on the current Endeavour share price of $4.18, this will mean dividend yields of 4.8% and 5.3%, respectively.

BHP Group Ltd (ASX: BHP)

If you are not averse to investing in the mining sector, then BHP could be an ASX dividend share to buy. Especially with the mining giant's shares down 14% over the past 12 months.

Goldman Sachs thinks this makes it a good time to buy. It put a buy rating and $46.80 price target on its shares earlier this week. This implies potential upside of almost 18% for investors from current levels.

In respect to dividends, the broker is forecasting fully franked dividends of US$1.03 (A$1.64) per share in FY 2025 and then US$1.13 (A$1.80) per share in FY 2026. Based on the current BHP share price of $39.80, this will mean dividend yields of 4.1% and 4.5%, respectively.