In this article we discuss the 5 best dividend stocks to buy now according to billionaire Leon Cooperman. If you want to read our detailed analysis of Cooperman’s history and hedge fund performance, go directly to the 10 Best Dividend Stocks to Buy Now According to Billionaire Leon Cooperman.
5. The AES Corporation (NYSE: AES)
Cooperman’s Stake Value: $24,000
Percentage of Leon Cooperman’s 13F Portfolio: 0.001%
Dividend Yield: 2.42 %
No. of Hedge Fund Holders: 51
The AES Corporation (NYSE: AES) is a U.S diversified power generation and utility company. It is ranked fifth on our list of 10 best dividend stocks to buy now according to billionaire Leon Cooperman.
The company entered into an agreement to supply power at Google’s Virginia-based data centers. The contract will involve the supply of carbon-free energy for ten years. Under the new agreement, AES will become the sole supplier of carbon-free energy to the company’s data centers. The energy will be sourced from clean energy sources like solar, wind, and hydropower. The agreement is part of Google’s plan to run its business on 100% clean energy by 2030.
In May, the company reported GAAP EPS of -$0.22 for Q1 2021. During the quarter, revenue increased by 12.4% to $2.63 billion compared to Q1 2020. The board of directors declared a dividend of $0.1505 per share.
4. Navient Corporation (NASDAQ: NAVI)
Cooperman’s Stake Value: $44,876,000
Percentage of Leon Cooperman’s 13F Portfolio: 2.79%
Dividend Yield: 3.7%
No. of Hedge Fund Holders: 23
Navient Corporation (NASDAQ: NAVI) is a U.S company that offers education loan management and business processing services to clients in healthcare, education, and government agencies. It is placed fourth on our list of 10 best dividend stocks to buy now according to billionaire Leon Cooperman.
Navient Corporation (NASDAQ: NAVI) recently reported its quarterly results for Q1 2011, with a 119% or $68 million increase to $125 million in business processing revenue compared to Q1 2020. The increase was mainly driven by revenue earned from new contracts that the company secured to help states offer and manage unemployment benefits, administer and manage vaccination campaigns, conduct contract tracing. On March 19, John Hecht from Jefferies upgraded the stock to “Buy” from “Hold.”
3. NRG Energy, Inc. (NYSE: NRG)
Cooperman’s Stake Value: $15,281,000
Percentage of Leon Cooperman’s 13F Portfolio: 0.95%
Dividend Yield: 3.8%
No. of Hedge Fund Holders: 35
NRG Energy, Inc. (NYSE: NRG) is the latest addition to Leon’s portfolio. The company offers integrated energy products and services in the U.S. It is ranked third on our list of 10 best dividend stocks to buy now according to billionaire Leon Cooperman.
NRG Energy, Inc. (NYSE: NRG) recently completed the acquisition of Direct Energy from Centrica Plc in a move that is expected to further cement NRG as an industry leader and integrated service provider focusing on customer experience. With the new agreement, Direct Energy will add more than three million customers in North America, mainly in the retail sector.
In Q1 2021, NRG Energy reported GAAP EPS of -$0.33, while revenue went up 300.5% YoY to $8.09 billion compared to Q1 2020.
2. Enterprise Products Partners L.P. (NYSE: EPD)
Cooperman’s Stake Value: $11,010,000
Percentage of Leon Cooperman’s 13F Portfolio: 0.68%
Dividend Yield: 7.53 %
No. of Hedge Fund Holders: 26
Enterprise Products Partners L.P. (NYSE: EPD) is an energy company that specializes in the production of crude oil, petrochemicals, gas, natural gas liquids (NGLs), and refined products. It is placed second on our list of 10 best dividend stocks to buy now according to billionaire Leon Cooperman.
Enterprise Products Partners’ reported better-than-expected financial results for Q1 2021. During the quarter, GAAP earnings were flat at $1.3 billion, similar to the one reported in Q1 2020, while adjusted EBITDA went up 13.0% to $2.25 billion.
Enterprise Products Partners L.P. (NYSE: EPD) has filed a lawsuit against San Antonio municipal power utility CPS Energy for failing to pay around $100 million worth of natural gas delivered in the winter storm that hit Texas in February. In April, TD Securities rated the stock as “Buy” with a price target of $28.
1. Arbor Realty Trust, Inc. (NYSE: ABR)
Cooperman’s Stake Value: $34,248,000
Percentage of Leon Cooperman’s 13F Portfolio: 2.13%
Dividend Yield: 7.65%
No. of Hedge Fund Holders: 21
Arbor Realty Trust, Inc. (NYSE: ABR) is an investment company that mainly focuses on commercial, multifamily, single-family rental real estate industries in the U.S. It is ranked first on our list of 10 best dividend stocks to buy now according to billionaire Leon Cooperman.
The company recently issued $175 million in a private placement, 5.00% of senior unsecured notes due April 30, 2026. Proceeds from the offering will be used for general corporate purposes and additional investments.
Arbor Realty Trust, Inc. (NYSE: ABR) recently announced a net income of $48.96 million in Q1 2021, representing a 19.9% increase YoY and beating analyst projections by $2.66 million. During the quarter, the company reported GAAP EPS of $0.55. Last month, the board declared a dividend of $0.34 per share, a 3% increase from the previous dividend of $0.33.
You can also take a peek at 10 Best Tech Stocks to Buy According to Billionaire Ken Griffin and 10 Best Dividend Stocks to Buy According to Billionaire Andreas Halvorsen.
