Early Retirement Portfolio: 5 Stocks to Live Off Dividends

4. BP p.l.c. (NYSE:BP)

Number of Hedge Fund Holders: 29
Dividend Yield as of January 27: 4.16%

This December, Deutsche Bank propounded a promising outlook on energy, putting a specific preference on brent oil and lifting its price target to $75 per barrel in 2022. In this regard, the firm’s analyst upgraded BP p.l.c. (NYSE:BP), a British multinational oil and gas company, to Buy from Hold.

Currently, BP p.l.c. (NYSE:BP) pays an annual dividend of $1.29 per share. The stock’s dividend yield stands at 4.16%. In its recently announced Q3 report, BP p.l.c. (NYSE:BP) posted an EPS of $0.99, beating the consensus by $0.07. Moreover, the company’s revenue for the quarter also saw a 37.5% year-over-year growth at $36.1 billion.

As of Q3, 29 hedge funds tracked by Insider held positions in BP p.l.c. (NYSE:BP), down from 30 in the previous quarter. These stakes are valued at over $1 billion. Ken Fisher’s hedge fund, Fisher Asset Management, was the company’s largest shareholder in Q3, owning over 12.6 million shares, worth $345.3 million.