5 Best Dividend Stocks to Buy According to Billionaire Richard Chilton

2. Magellan Midstream Partners, L.P. (NYSE: MMP)

Chilton’s Stake Value: $704,000
Percentage of Richard Chilton’s 13F Portfolio: 0.01%
Dividend Yield: 8.03%
Number of Hedge Fund Holders: 14

Magellan Midstream Partners, L.P. (NYSE: MMP) is an American company engaged in the storage and distribution of petroleum and rock oil. It was founded in 2000 and ranks second in our list of 10 best dividend stocks to buy according to billionaire Richard Chilton. Magellan Midstream Partners stock has offered investors returns exceeding 22% in the past year.

In April, Wolfe Research analyst Steve Fleishman initiated a coverage on the stock and rated it as “Peer Perform,” giving it a price target of $45.00. On April 29, the company announced its Q1 2021 financial results, where revenue declined 15.6% year-over-year, valued at over $661.07 million, missing the market prediction by $8.51 million. The company also declared its NON-GAAP earnings per share of $1.09, beating the estimates by $0.23. 

Richard Chilton’s Chilton Investment owns a $704,000 stake in Magellan Midstream Partners, L.P. Another notable stakeholder of GATX is 683 Capital Partners, with 1.05 million shares of the company. There were 14 hedge funds in our database that held stakes in Magellan Midstream Partners, L.P. (NYSE: MMP) at the end of Q1 2021, compared to 22 funds in Q4 2020.