5 Blue Chip Dividend Stocks With Over 4% Yield

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

Dividend Yield as of January 28: 7.90%

Number of Hedge Fund Holders: 25

Enterprise Products Partners L.P. (NYSE:EPD) is a Texas-based natural gas and crude oil pipeline company that specializes in oil and gas transportation and refined products. Enterprise Products Partners L.P. (NYSE:EPD)’s dividend yield as of January 28 came in at 7.90%. 

Enterprise Products Partners (NYSE:EPD) on January 6 declared a quarterly dividend of $0.465 per share, which is a 3.3% increase from its prior dividend of $0.450. The dividend is payable on February 11, to shareholders of record on January 31. During Q4 2021, Enterprise Products Partners (NYSE:EPD) purchased $125 million of its common units in the open market, bringing the total amount of common unit buybacks during 2021 to $200 million. 

Mizuho analyst Gabriel Moreen raised the price target on Enterprise Products Partners (NYSE:EPD) to $30 from $29 and kept a Buy rating on the shares on January 11 after the company announced its intention to acquire privately owned Navitas Midstream. 

Among the hedge funds monitored by Insider Monkey in Q3 2021, 25 funds were long Enterprise Products Partners (NYSE:EPD), with stakes totaling $233.2 million. First Eagle Investment Management is the largest stakeholder of the company, with 2.82 million shares worth $61.1 million. 

Here is what ClearBridge Investments has to say about Enterprise Products Partners L.P. (NYSE:EPD) in its Q1 2021 investor letter:

“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.”