5 Best Dividend Stocks To Buy According to Arosa Capital Management

4. BP p.l.c. (NYSE:BP)

Number of Hedge Fund Holders: 29
Dividend Yield as of February 16: 3.98%
Arosa Capital’s Stake Value: $6,514,000

A British multinational oil and gas company, BP p.l.c. (NYSE:BP) recently announced its Q4 results and reported a 73% growth in its quarterly revenue at $52.2 billion. Given this, Wall Street analysts remained positive on the company, as recently, both Morgan Stanley and JPMorgan raised their price targets on the stock to 465 GBP and 600 GBP, respectively.

In August 2021, BP p.l.c. (NYSE:BP) hiked its quarterly dividend by 4% at $0.3276 per share. The stock’s current dividend yield stands at 3.98%. BP p.l.c. (NYSE:BP) expects to increase its dividend by 4% annually through 2025. Arosa Capital made its first investment in the company during the first quarter of 2016. In Q4 2021, the hedge fund held shares worth over $6.5 million in BP p.l.c. (NYSE:BP), which represented 1.6% of its 13F portfolio.

By the end of Q3 2021, 29 hedge funds tracked by Insider Monkey reported owning stakes in BP p.l.c. (NYSE:BP), compared with 30 in the preceding quarter. These stakes hold a consolidated value of over $1 billion.