5 Best Large Cap Dividend Stocks to Buy Now

3. The Williams Companies, Inc. (NYSE: WMB)

Number of Hedge Fund Holders: 34

Dividend Yield: 6.1%

The Williams Companies, Inc. (NYSE: WMB) is an energy infrastructure company operating in the oil and gas storage and transportation industry in the US. It operates natural gas pipelines in the Gulf of Mexico and also deals with the production of crude oil in the Gulf Coast. The company ranks 3rd on our list of the best large cap dividend stocks to buy now.

In May, Argus analyst Bill Selesky upgraded The Williams Companies, Inc. (NYSE: WMB) shares to Buy with a $30 price target. Selesky has stated that The Williams Companies, Inc. (NYSE: WMB) may benefit from the increasing demand for natural gas as an energy source.

In the first quarter of 2021, The Williams Companies, Inc. (NYSE: WMB) had an EPS of $0.35, beating estimates by $0.06. The company’s revenue was $2.61 billion, up 36.54% year over year and beating estimates by $642.17 million. The Williams Companies, Inc. (NYSE: WMB) has also gained 15.51% in the last 6 months and 24.53% year to date.

By the end of the first quarter of 2021, 34 hedge funds out of the 866 tracked by Insider Monkey held stakes in The Williams Companies, Inc. (NYSE: WMB) worth roughly $475 million. This is compared to 38 hedge funds in the previous quarter with stakes worth approximately $563 million.

ClearBridge Investments, an investment management firm,  mentioned The Williams Companies, Inc. (NYSE: WMB) in its first-quarter 2021 investor letter. Here’s what they said:

“U.S. energy infrastructure company Williams Companies also performed well. Williams owns and operates natural gas pipelines and associated midstream assets in the U.S. Shares continued to rebound driven by the strong cyclical recovery, which has benefited energy stocks. Williams also delivered resilient fourth-quarter earnings despite energy demand pressure from COVID-19.”