5 Best High Yield Dividend Stocks Under $50

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

Number of Hedge Fund Holders: 26
Dividend Yield: 7.46%

Enterprise Products Partners L.P. (NYSE: EPD) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids, crude oil, petrochemicals, and refined products. The company ranks 4th on our list of the best high yield dividend stocks under $50.

On June 21st, Magellan Midstream Partners, L.P. (NYSE: MMP) and Enterprise Products Partners L.P. (NYSE: EPD) announced their futures contract with Intercontinental Exchange (NYSE: ICE) for the delivery of crude oil in Houston. The CEO of Enterprise Products Partners L.P. (NYSE: EPD) also commented this May that the demand for hydrocarbons could rise and hit an all-time-high record in 2022 as the economy rebounds. In the first quarter of 2021, Enterprise Products Partners L.P. (NYSE: EPD) had an EPS of $0.64, beating estimates by $0.17. The company’s revenue was $9.16 billion, up 22.36% year over year and beating estimates by $2.08 billion. It has a gross profit margin of 20.64% and the stock has gained 25.09% in the past 6 months and year to date.

By the end of the first quarter of 2021, 26 hedge funds out of the 866 tracked by Insider Monkey held stakes in Enterprise Products Partners L.P. (NYSE: EPD), worth about $299 million. This is compared to 30 hedge fund holders in the previous quarter, holding stakes worth roughly $316 million.

ClearBridge Investments, an investment management firm, mentioned Enterprise Products Partners L.P. (NYSE: EPD) in its first-quarter 2021 investor letter. Here’s what they 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.”