5 Blue Chip Dividend Stocks with Over 5% Yield

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

Dividend Yield as of July 16: 7.75%

Enterprise Products Partners L.P. (NYSE:EPD) is a Texas-based midstream natural gas and crude oil pipeline company that also specializes in refined products and petrochemicals.

In Q1 2022, Enterprise Products Partners L.P. (NYSE:EPD) reported $1.8 billion in distributable cash flow, up from $1.7 billion reported during the same period last year. Its cash flow from operations stood at $2 billion, compared with $1.9 billion in the first quarter of 2021. Enterprise Products Partners L.P. (NYSE:EPD) has been raising its dividends consecutively for the past 23 years. The company raised its payout twice in 2022, offering a quarterly dividend of $0.475 per share, with a yield of 7.75%, as of July 16.

Following the company’s solid Q1 results, Truist raised its price target on Enterprise Products Partners L.P. (NYSE:EPD) in May to $30, with a Buy rating on the shares.

At the end of Q1 2022, 19 hedge funds in Insider Monkey’s database owned stakes in Enterprise Products Partners L.P. (NYSE:EPD), down from 21 in the previous quarter. The combined value of these stakes is over $177.5 million. First Eagle Investment Management was the company’s leading shareholder in Q1, owning over 3.2 million shares.

ClearBridge Investments mentioned Enterprise Products Partners L.P. (NYSE:EPD) in its Q1 2022 investor letter. Here is what the firm has to say:

“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.”