Dividend Achievers List Ranked By Yield: Top 10

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

Dividend Yield as of December 19: 7.98%

Enterprise Products Partners L.P. (NYSE:EPD) is an American midstream natural gas and crude oil company, based in Texas. The stock was initiated with a Buy at Citi in December, with a $31 price target. The firm presented a positive outlook for the midstream sector and mentioned that the industry is prepared for macro headwinds.

Enterprise Products Partners L.P. (NYSE:EPD) reported a strong cash position in Q3 2022 with its distributable cash flow amounting to nearly $2 billion, up from $1.6 billion during the same period last year. Moreover, its adjusted operating cash flow amounted to $2 billion, up from $1.7 billion in Q3 2021.

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend of $0.475 per share, which fell in line with its previous dividend. The company has been raising its dividends consistently for the past 22 years. The stock’s dividend yield on December 19 came in at 7.98%.

At the end of Q3 2022, 21 hedge funds tracked by Insider Monkey owned stakes in Enterprise Products Partners L.P. (NYSE:EPD), compared with 23 in the previous quarter. The collective worth of these stakes is over $221.6 million.

Fairholme Capital Management mentioned Enterprise Products Partners L.P. (NYSE:EPD) in its Q2 2022 investor letter. Here is what the firm has to say:

“Enterprise Products Partners L.P. (NYSE:EPD) is the largest position in the Fund. Enterprise provides processing and transportation services to producers and consumers of natural gas, natural gas liquids, and oil. These hydrocarbons are critical for modern life and have few if any, ready substitutes. Commodity prices do not greatly affect the company’s toll road fees. Enterprise is priced at less than nine times distributable cash flows and pays a 7.5% cash distribution.”