5 Blue Chip Dividend Stocks with Over 3% Yield

1. Brookfield Infrastructure Partners L.P. (NYSE:BIP)

Number of Hedge Fund Holders: 15

Dividend Yield as of April 22: 3.36%

Brookfield Infrastructure Partners L.P. (NYSE:BIP) is a Toronto-based company that offers expertise in utilities, transport, energy, communications, and infrastructure. Brookfield Infrastructure Partners L.P. (NYSE:BIP) has a 13-year history of consistent dividend growth.

On February 2, Brookfield Infrastructure Partners L.P. (NYSE:BIP) announced a $0.54 per share quarterly dividend, a 5.9% increase from its prior dividend of $0.51. The dividend was paid on March 31, to shareholders of record on February 28. Brookfield Infrastructure Partners L.P. (NYSE:BIP)’s dividend yield as of April 22 stood at 3.36%. 

Brookfield Infrastructure Partners L.P. (NYSE:BIP)’s revenue in 2021 came in at $11.5 billion, up from $8.8 billion in 2020. The company’s net income for 2021 stood at $654 million, growing over 319% from the prior-year income of $156 million. 

BMO Capital analyst Devin Dodge on March 31 reiterated an Outperform rating on Brookfield Infrastructure Partners L.P. (NYSE:BIP) and raised the firm’s price target on the shares to $71 from $66. The analyst sees an “attractive” setup for Brookfield Infrastructure Partners L.P. (NYSE:BIP), including strong FFO per unit growth, positive distribution growth, and an active mergers and acquisitions pipeline. He continues to see a favorable risk/reward for Brookfield Infrastructure Partners L.P. (NYSE:BIP) despite the recent strength in shares.

According to the fourth quarter database of Insider Monkey, 15 hedge funds placed long calls on Brookfield Infrastructure Partners L.P. (NYSE:BIP), collectively holding stakes worth $89.2 million. Select Equity Group is the biggest position holder in the company, with 655,599 shares valued at almost $40 million. 

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