5 Best Dividend Stocks to Buy According to Billionaire Richard Chilton

4. Enterprise Products Partners L.P. (NYSE: EPD)

Chilton’s Stake Value: $2,119,000
Percentage of Richard Chilton’s 13F Portfolio: 0.05%
Dividend Yield: 7.28%
Number of Hedge Fund Holders: 26

Enterprise Products Partners L.P. (NYSE: EPD) provides services like processing, storage, and transportation of crude oil products to its customers. It was founded in 1968 and is ranked fourth on our list of 10 best dividend stocks to buy according to billionaire Richard Chilton. The company has returned more than 16% to investors over the past year.

On April 4, TD Securities analyst Linda Ezergailis upgraded the stock to “Buy,” and set a price target of $28.00. Later in April, Enterprise Products declared a quarterly dividend of $0.45 per share, in line with the previous. The forward yield is 7.08%. Last month, the company announced Q1 2021 revenue of $9.16 billion, up 22.5% YoY, beating the estimates by $2.09 billion.

At the end of the first quarter of 2021, 26 hedge funds in the database of Insider Monkey held stakes worth $299 million in Enterprise Products Partners L.P. (NYSE: EPD), down from 30 the preceding quarter worth $316 million. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital is the company’s most significant stakeholder, with 3.68 million shares worth $81.14 million.

In its Q 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks, and Enterprise Products Partners was one of them. Here is what the fund said:

“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names (including) Enterprise Products Partners LP. We are positive on this company’s strong balance sheets, competitive positions and exposure to an economic recovery.”