5 Best High Yield Dividend Stocks to Buy in June

2. MPLX LP (NYSE: MPLX)

Dividend Yield as of June 11: 9.28%
Number of Hedge Fund Holders: 8

Ranking 2nd in our list of 10 best high yield dividend stocks to buy in June is MPLX LP (NYSE:MPLX). The Ohio-based midstream energy company was formed in a partnership with Marathon Petroleum Corporation (NYSE:MPC), founded in 2012. The company began publicly trading in October of the same year. In 2019, the company purchased Andeavor Logistics LP. The acquisition upscaled the company’s assets and provided the company with an advantage in the midstream sector.

MPLX LP (NYSE:MPLX) posted its adjusted earnings of $1.4 billion in the first quarter of 2021, up from $1.3 billion in the first quarter of 2020. MPLX shares currently trade for $30.19 and have a P/E ratio of 12.07. The current dividend yield is 9.28%. The 52-week price range of MPLX LP (NYSE:MPLX) is $15.05-30.22. Shares of MPLX jumped 72% over the last twelve months. On May 27, Credit Suisse maintained an Outperform rating on MPLX LP and raised the price target to $34.