5 Under-the-Radar High Dividend Stocks to Buy

In this article, we discuss 5 under-the-radar dividend stocks to buy. If you want to read our detailed analysis of dividend stocks and their historical performance, go directly to read 15 Under-the-Radar High Dividend Stocks to Buy. 

5. Medifast, Inc. (NYSE:MED)

Dividend Yield as of March 13: 6.13%

Medifast, Inc. (NYSE:MED) is an American marketing company that specializes in health-related and weight-loss products. In its Q4 2022 earnings, the company posted revenue of $337.2 million, which beat Street estimates by $7.1 million. For FY22, its revenue grew by 4.8% year-over-year to $1.6 billion. During the quarter, the company returned nearly $18 million to shareholders in dividends.

Medifast, Inc. (NYSE:MED) is one of the high-dividend stocks on our list as the company has been raising its dividends consistently since 2015. It currently pays a quarterly dividend of $1.64 per share and has a dividend yield of 6.13%, as of March 13.

At the end of Q4 2022, 18 hedge funds tracked by Insider Monkey held stakes in Medifast, Inc. (NYSE:MED), the same as in the previous quarter. The collective value of these stakes is over $112.3 million. Ken Griffin’s Citadel Investment Group was the company’s leading stakeholder in Q4.

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

Dividend Yield as of March 13: 6.19%

The Williams Companies, Inc. (NYSE:WMB) is an Oklahoma-based energy company that specializes in natural gas processing and transportation. On March 9, the company declared a 5.3% hike in its quarterly dividend to $0.4475 per share. This was the company’s seventh consecutive year of dividend growth, which makes it one of the high-dividend stocks to buy. The stock’s dividend yield came in at 6.19% on March 13.

In January, Capital Advisors upgraded The Williams Companies, Inc. (NYSE:WMB) to Overweight from Hold and with a $36 price target, highlighting the company’s performance in 2022.

In FY22, The Williams Companies, Inc. (NYSE:WMB) reported revenue of nearly $11 billion, which showed a 3.2% growth from the same period last year. The company’s operating cash flow for the year came in at over $4.8 billion, up 24% from the prior-year period.

As of the close of Q4 2022, 34 hedge funds tracked by Insider Monkey owned stakes in The Williams Companies, Inc. (NYSE:WMB), compared with 35 in the previous quarter. These stakes have a consolidated value of over $286.6 million.

Longleaf Partners mentioned The Williams Companies, Inc. (NYSE:WMB) in its Q2 2022 investor letter. Here is what the firm has to say:

“The Williams Companies, Inc. (NYSE:WMB) – US natural gas pipeline operator Williams contributed as it benefitted from positive natural gas tailwinds in the quarter. After scaling back the position in the first quarter, we sold the remaining position in the quarter as its price reached our appraisal value. This was a very successful investment that was extremely contrarian in 2019 and now has become much more consensus appreciated.”

3. Main Street Capital Corporation (NYSE:MAIN)

Dividend Yield as of March 13: 7.11%

Main Street Capital Corporation (NYSE:MAIN) is another best high-dividend stock on our list. The principal investment firm currently pays a monthly dividend of $0.225 per share and has a dividend yield of 7.11%, as of March 13. On February 22, it also announced a supplemental dividend of $0.175 per share.

In February, Truist lifted its price target on the stock to $43 with a Hold rating on the shares, appreciating the company’s long-term execution. The firm also presented a positive outlook for the company’s net interest income.

In the fourth quarter of 2022, Main Street Capital Corporation (NYSE:MAIN) reported a total investment income of $113.8 million, which showed a 38.6% growth from the same period last year. At the end of December 2022, the company had nearly $50 million available in cash and cash equivalents.

The number of hedge funds tracked by Insider Monkey owning stakes in Main Street Capital Corporation (NYSE:MAIN) grew to 11 in Q4 2022, from 8 in the previous quarter. The collective value of these stakes is over $30 million. Ken Griffin and Kenneth A. Moffet were two of the company’s leading stakeholders in Q4.

2. Magellan Midstream Partners, L.P. (NYSE:MMP)

Dividend Yield as of March 13: 7.90%

Magellan Midstream Partners, L.P. (NYSE:MMP) is an American company that owns ammonia and petroleum pipelines in the Mid-Continent oil province. In January, Barclays upgraded the stock to Overweight and also lifted its price target on the stock to $59. The firm expects the company to earn higher refined product tariffs on longer routes.

On January 24, Magellan Midstream Partners, L.P. (NYSE:MMP) declared a quarterly dividend of $1.0475 per share, which fell in line with its previous dividend. The company maintains a 22-year streak of dividend growth and has a dividend yield of 7.90%, as of March 13. It is among the high-dividend stocks on our list.

At the end of December 2022, 10 hedge funds tracked by Insider Monkey owned stakes in Magellan Midstream Partners, L.P. (NYSE:MMP), the same as in the previous quarter. These stakes have a total value of over $24.2 million.

1. Medical Properties Trust, Inc. (NYSE:MPW)

Dividend Yield as of March 13: 13.20%

Medical Properties Trust, Inc. (NYSE:MPW) is an Alabama-based real estate investment trust company. This high-dividend stock has raised its payouts for nine years in a row and currently offers a quarterly dividend of $0.29 per share. The stock has a dividend yield of 13.20%, as of March 13. Moreover, its dividends represented 85% of its AFFO in the fourth quarter of 2022.

At the end of December 2022, 28 hedge funds tracked by Insider Monkey reported owning stakes in Medical Properties Trust, Inc. (NYSE:MPW), up from 23 in the previous quarter. The collective value of these stakes is over $367.5 million.

You can also take a look at 10 Penny Stocks with Insider Buying and 12 Dividend Kings To Buy For Safe Dividend Growth

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