In this article, we will list the 5 Best Dividend Stocks to Invest In According to Jim Simons’ Renaissance Technologies. Please visit 12 Best Dividend Stocks to Invest In According to Jim Simons’ Renaissance Technologies if you would like to see the extended list and the methodology behind it.
5. HP Inc. (NYSE:HPQ)
Dividend Yield: 5.31%
Number of Hedge Fund Holders: 47
Renaissance Technologies Equity Stake: $142.73 Million
HP Inc. (NYSE:HPQ) is one of the best dividend stocks to invest in, according to Jim Simons’ Renaissance Technologies, with a 5.31% dividend yield. On June 29, HP Inc. (NYSE:HPQ) entered into a strategic partnership with OpenAI as part of its Workforce Experience Platform. The strategic partnership paves the way for integrating Frontier Platform into HP’s business operations and customer-facing services.
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The company plans to use the Frontier platform to enhance customer and partner experiences. It will also leverage the platform to improve employee productivity and support software development
HP becomes the first global enterprise to adopt the Frontier platform to support software development applications. Additionally, the strategic partnership opens the door for the two companies to collaborate on co-developing future use cases focused on data integration, governance, and security standards.
HP Inc. (NYSE:HPQ) is a multinational IT corporation that designs and sells personal computers, printers, and 3D printing solutions. Operating globally, it provides hardware, software, and IT infrastructure to consumers, businesses, and enterprises.
4. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)
Dividend Yield: 7.17%
Number of Hedge Fund Holders: 41
Renaissance Technologies Equity Stake: $159.01 Million
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is one of the best dividend stocks to invest in, according to Jim Simons’ Renaissance Technologies. On June 30, Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) approved a mechanism that will limit gas price volatility.
The Brazilian state-run oil company has introduced floor and ceiling levels that will ensure Brent crude prices don’t exceed or plunge below set price levels. The mechanism will ensure that the gas price does not increase by 6% for state distributors in August.
The mechanism will apply to all customers who choose to adopt it by amending their supply contracts. The new mechanism underscores Petroleo Brasileiro’s response to evolving market conditions. It also comes at a time when Brazil is increasingly scaling back government fuel support.
Earlier on June 23, Petróleo Brasileiro entered into a non-binding memorandum of understanding with Petróleos Mexicanos to collaborate on oil exploration, production, and refining. The two companies are to collaborate on shallow- and deepwater operations in the Gulf of Mexico, as well as on refining natural gas and petrochemicals.
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is a massive Brazilian state-owned multinational corporation in the petroleum industry. It specializes in the exploration, production, refining, and marketing of oil and natural gas, and is a world-renowned leader in deep and ultra-deepwater offshore drilling.
3. Blackstone Inc. (NYSE:BX)
Dividend Yield: 4.05%
Number of Hedge Fund Holders: 84
Renaissance Technologies Equity Stake: $164.59 Million
Blackstone (NYSE:BX) is one of the best dividend stocks to invest in, according to Jim Simons’ Renaissance Technologies. On July 6, Blackstone (NYSE:BX) announced that funds managed by Blackstone Energy Transition Partners have reached an agreement to acquire Dresser Utility Solutions.
With the acquisition, the unit gains access to a premier provider of mission-critical natural gas, water measurement, and infrastructure equipment solutions. Additionally, it represents the first investment by Blackstone’s private equity energy transition vehicle. The acquisition comes as Dresser increasingly capitalizes on soaring demand for energy grid infrastructure, positioning itself as a trusted partner in managing essential infrastructure.
According to David Evans, CEO of Dresser Utility Solutions, the transaction marks an important milestone. For starters, it paves the way to leverage Blackstone’s deep resources and experience in the utility sector to continue investing in innovation and expand the product portfolio. The ultimate goal is to help Dresser build a leading infrastructure technology platform that enables utilities to optimize assets and manage digital transformation.
Blackstone Inc. (NYSE:BX) is the world’s largest alternative asset manager. It invests on behalf of institutional and individual investors by acquiring, managing, and improving various assets—such as corporate private equity, commercial real estate, infrastructure, and credit—to generate profitable returns.
2. National Grid plc (NYSE:NGG)
Dividend Yield: 3.91%
Number of Hedge Fund Holders: 30
Renaissance Technologies Equity Stake: $183.48 Million
National Grid plc (NYSE:NGG) is one of the best dividend stocks to invest in, according to Jim Simons’ Renaissance Technologies. On July 1, National Grid plc (NYSE:NGG) confirmed it will invest $1.75 billion for a 35% stake in Joulent, a U.S. energy platform developing power infrastructure.
The investment underscores the company’s push to capitalize on growing demand for power in the US amid the AI boom. The $1.75 billion investment is to fund Joulent’s first project, a 2.67-gigawatt gas-fired facility in West Texas. The facility is to generate power and supply it to a Microsoft-operated data center campus under a 20-year power purchase agreement.
According to National Grid, the $1.75 billion investment is incremental to a five-year capital investment program of at least £70 billion through fiscal year 2031. The company has entered into strategic partnerships as it moves to strengthen its existing data center connectivity program. It plans to connect more than 10 gigawatts across the UK and the United States over the next five years.
National Grid plc (NYSE:NGG) is a top dividend stock in Jim Simons’ Renaissance Technologies with a 3.91% dividend yield.
National Grid plc (NYSE:NGG) is a major multinational utility company that owns and operates vital electricity and natural gas transmission and distribution networks across the United Kingdom and the Northeastern United States. It serves as the backbone of the energy infrastructure, moving electricity from power generators to local distribution networks and to millions of end users.
1. Chevron Corporation (NYSE:CVX)
Dividend Yield: 4.21%
Number of Hedge Fund Holders: 103
Renaissance Technologies Equity Stake: $416.98 Million
Chevron Corp (NYSE:CVX) is one of the best dividend stocks to invest in, according to Jim Simons’ Renaissance Technologies. On July 2, TD Cowen reiterated a Hold rating on Chevron Corp (NYSE:CVX) and cut the price target to $197 from $205.
The price target cut aligns with adjusted targets in the oil major’s space ahead of the second quarter earnings season. The research firm has also reiterated that there are pockets of opportunities in the oil sector despite the recent correction in oil prices following the waning of tensions in the Middle East and the opening of the Strait of Hormuz.
Chevron Corp. also offers a 4.21% dividend yield.
Chevron Corporation (NYSE:CVX) is a global energy corporation that explores for, produces, and refines crude oil and natural gas. The company operates across the entire energy supply chain, including manufacturing petrochemicals, delivering fuels, and investing in lower-carbon energy solutions for the future.
While we acknowledge the potential of CVX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CVX and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 10 Best Stocks to Buy According to David Greenspan’s Slate Path Capital and 10 AI Stocks on Wall Street’s Radar: Datadog, Microsoft, and More.
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