In this article, we will analyze the list of the best dividend stocks under $50.
The bullish market trend that had been ongoing since October 2022 faced a disruption in early August. Investor sentiment shifted as concerns about the U.S. economy’s strength grew. This change was triggered by a jobs report, which revealed modest job growth in July and a rise in the national unemployment rate. These figures sparked worries about potential economic challenges and doubts about whether the Federal Reserve had acted too slowly in implementing anticipated interest rate cuts that were expected to support the economy. As a result, stock markets saw sharp declines over several consecutive trading days. The broader market fell by 3% between August 2 and August 5.
According to analysts, despite the recent downturn in the market, there is no reason for equity investors to become overly cautious. The outlook remains positive, and it is still considered a favorable time to invest. For those holding cash, this period presents an opportunity to allocate capital to longer-term assets. Positive investment trends, particularly in AI but extending beyond it, offer ample opportunities for stock growth. Additionally, rising dividends provide another attractive element for investors to consider. Although dividend stocks have been underperforming relative to the broader market recently, they remain a popular choice due to their long-term returns. The Dividend Aristocrats Index has risen slightly over 6% this year, but the growth in dividends among US companies is promising. Howard Silverblatt, Senior Index Analyst at S&P Dow Jones Indices, forecasts a 6% increase in dividend payments for 2024, up from a 5.1% rise in 2023.
Also read: 10 Highest Paying Monthly Dividend Stocks
Dividend growth has been a trend this year, compared to the previous year. In the first and second quarters of 2024, dividends paid by US companies have grown significantly. According to Silverblatt, the significant takeaway from both quarters was the performance of large-cap companies. In April, Alphabet began paying a $9.3 billion dividend, joining other major dividend initiations in the first quarter, such as Bookings with $1.2 billion, Meta Platforms with $4.4 billion, and Salesforce with $1.5 billion. These initiatives contributed to 53% of the S&P 500’s year-to-date indicated dividend increase. Although gains without these new initiations were already setting a record for the broader market dividend payments in 2024, the additional forward cash commitments to dividends are expected to significantly boost payouts and prompt both investors and non-paying boards to reconsider their strategies.
Dividend stocks have historically made a substantial contribution to overall market returns. According to a Hartford Funds report, from 1940 to 2023, dividend income accounted for an average of 34% of the total market return. Analysts have long explored various dividend strategies to maximize investor returns. While high dividend yields have attracted considerable attention, dividend growth has proven to be a more reliable approach. However, recent research indicates that combining both yield and growth strategies can offer the greatest benefits. The High Dividend Growth Index, which tracks companies with the highest projected dividend yield growth in the broader market and a history of maintaining or increasing dividends for at least five years, has surged nearly 20% over the past year. This performance surpasses that of the Dividend Aristocrats Index, which focuses solely on dividend growth without considering yields.
Investors should thoroughly evaluate what suits their portfolio, as strategies that are effective at one time may not perform well in another. It’s crucial to consider the underlying fundamentals of a company when making investment decisions. In this article, we will take a look at some of the best dividend stocks under $50 according to analysts.
Photo by Viacheslav Bublyk on Unsplash
Our Methodology:
For this list, we screened for dividend stocks with share prices below $50, as of the close of August 16. From this group, we picked stocks with a projected upside potential of over 10% based on analyst price targets. We further narrowed down the list by including stocks that have dividend yields of at least 2%, as of August 16. The stocks are ranked in ascending order of their upside potential, as of August 16.
We also measured hedge fund sentiment around each stock according to Insider Monkey’s database of 912 funds as of Q2 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points. (see more details here).
10 Best Dividend-Paying Stocks Under $50
10. VICI Properties Inc. (NYSE:VICI)
Upside Potential as of August 16: 11.2%
Share Price as of the close of August 16: $31.5
VICI Properties Inc. (NYSE:VICI) is an American real estate investment trust company that mainly invests in casino and entertainment properties. The company has significant exposure to the casino industry, with Caesars Entertainment and MGM Resorts as two of its major tenants. However, it is actively working to diversify its portfolio. Recognizing the economic sensitivity of the casino industry, the company extended a $250 million loan to Great Wolf Lodge. This move strengthens its existing partnership with the operator of a chain of indoor water parks and hotels. In addition, the company is expanding its real estate and financing partnerships with prominent operators across various experiential sectors, including Bowlero, Cabot, Canyon Ranch, Chelsea Piers, Homefield, and Kalahari Resorts. VICI Properties Inc. (NYSE:VICI) also owns four championship golf courses and holds 33 acres of undeveloped and underdeveloped land near the Las Vegas Strip.
VICI Properties Inc. (NYSE:VICI) reported strong earnings in the second quarter of 2024. Its revenue for the quarter came in at $957 million, which showed a 6.5% growth from the same period last year. It also beat Street estimates by $3.32 million. Net income attributable to common shareholders also showed a 7.3% YoY growth at $741.3 million. The company ended the quarter with $347.2 million available in cash and cash equivalents.
VICI Properties Inc. (NYSE:VICI), one of the best dividend stocks, started paying dividends in 2018 and has raised its payouts every year since then. Currently, it pays a quarterly dividend of $0.415 per share and has an impressive dividend yield of 5.25%, as of August 16. In the most recent quarter, the company returned approximately $430 million to shareholders through dividends.
At the end of Q2 2024, 33 hedge funds tracked by Insider Monkey reported having stakes in VICI Properties Inc. (NYSE:VICI), down from 38 in the previous quarter. These stakes have a collective value of nearly $936 million. With over 10.4 million shares, Citadel Investment Group was the company’s leading stakeholder in Q2.
9. Cisco Systems, Inc. (NASDAQ:CSCO)
Upside Potential as of August 16: 11.50%
Share Price as of the close of August 16: $49.46
Cisco Systems, Inc. (NASDAQ:CSCO) is an American digital communications technology company that offers a wide range of related services. Earlier this year, the company improved its cyber threat protection by purchasing the data analytics and cybersecurity company, Splunk. This acquisition turned out to be advantageous for the company, as Splunk added $960 million to the company’s revenue in fiscal Q4 2024. The company’s $28 billion purchase of Splunk also marks a significant change, putting the company into a net debt position to support growth and increase returns for shareholders. In an interview, Chief Financial Officer Scott Herren stated that the company will have the flexibility to decide whether to reduce its debt or maintain it, depending on future interest rates. He emphasized that Cisco will prioritize disciplined capital allocation and investments in growth rather than specifically aiming to reduce debt. Herren also declined to provide a target ratio for the company’s debt.
That said, analysts are positive about Cisco Systems, Inc. (NASDAQ:CSCO)’s cash position because of its strong cash generation. In the most recent quarter, the company reported an operating cash flow of approximately $3.7 billion. The company had nearly $17.9 billion available in cash and cash equivalents. During the quarter, the company returned $1.6 billion to shareholders through dividends. At the beginning of the year, the company committed to spending $5 billion annually on share buybacks and $6.5 billion each year on dividend payments. These expenditures will take up a significant part of the $14 billion to $15 billion in free cash flow that the company generates yearly.
Though Cisco Systems, Inc. (NASDAQ:CSCO)’s earnings remained strong in the most recent quarter, it has announced in a filing that it is undertaking a restructuring plan, including layoffs, which will lead to $1 billion in pretax charges. This move is intended to enable the company to invest in key growth opportunities and enhance operational efficiencies.
Cisco Systems, Inc. (NASDAQ:CSCO) currently pays a quarterly dividend of $0.40 per share and has a dividend yield of 3.23%, as of August 16. It is one of the best dividend stocks on our list as the company maintains a 17-year streak of consistent dividend growth.
As of the close of Q2 2024, 61 hedge funds in Insider Monkey’s database held stakes in Cisco Systems, Inc. (NASDAQ:CSCO), up from 58 in the previous quarter. These stakes have a total value of nearly $1.6 million. Among these hedge funds, Harris Associates owned the largest stake in the company in Q2.
8. UGI Corporation (NYSE:UGI)
Upside Potential as of August 16: 11.79%
Share Price as of the close of August 16: $24.37
UGI Corporation (NYSE:UGI) ranks eighth on our list of the best dividend stocks under $50. The American natural gas distribution company specializes in delivering safe, reliable, and affordable energy to its consumers. On August 7, the company declared a quarterly dividend of $0.375 per share, which fell in line with its previous dividend. Overall, it has been growing its payouts for 37 consecutive years. The stock supports a dividend yield of 6.16%, as of August 16.
The European propane market has experienced volatility, resulting in an oversupply and reduced demand from the heating sector. UGI Corporation (NYSE:UGI), which operates an LPG distribution business across 16 European countries under six well-known brands, has encountered challenges in this market. Consequently, propane prices have dropped by nearly 20% and are now lower than they were two years ago, a development that could benefit the company in FY24. AmeriGas Propane, the company’s LPG division, reported a revenue of $445 million in fiscal Q3 2024, down from $514 million in the same period last year.
That said, UGI Corporation (NYSE:UGI) remains proactive in addressing the current challenges by utilizing all available resources. The board has decided to concentrate on restructuring and enhancing operations for AmeriGas. This strategy involves prioritizing customer retention, increasing free cash flow, managing costs efficiently, and maintaining disciplined capital allocation. The company has outlined a plan to distribute $1.3 billion in shareholder returns from fiscal 2024 through 2027.
First Pacific Advisors also highlighted reasons to invest in UGI Corporation (NYSE:UGI) in its Q1 2024 investor letter. Here is what the firm has to say:
“UGI Corporation (NYSE:UGI) owns gas utilities and pipelines in Pennsylvania and West Virginia and the largest propane distribution businesses in the United States and Europe. Despite its disparate parts, UGI has increased consolidated earnings at a relatively steady high- single-digit rate while distributing excess cash through dividends. UGI’s share price has declined because of a combination of poor execution and too much debt at AmeriGas, UGI’s U.S. propane business. On August 30, 2023 UGI announced a review of strategic alternatives. We believe the company’s stock price is attractive at less than 10x earnings, and we have been incrementally adding to the Fund’s position.”
The number of hedge funds tracked by Insider Monkey owning stakes in UGI Corporation (NYSE:UGI) grew to 32 in Q2 2024, from 29 in the previous quarter. These stakes are collectively worth over $310.6 million.
7. Verizon Communications Inc. (NYSE:VZ)
Upside Potential as of August 16: 12.48%
Share Price as of the close of August 16: $40.6
Verizon Communications Inc. (NYSE:VZ) is a New York-based telecommunications company that provides a wide range of communications, technology, and entertainment products and services to its consumers. According to Goldman Sachs, the US telecom industry is currently undergoing significant changes, with operators shifting their focus back to their core businesses after previous ventures as conglomerates led to losses in shareholder capital. The firm sees strong potential in these companies, driven by ongoing innovation. Verizon Communications Inc. (NYSE:VZ), in particular, has been expanding its 5G network since its initial deployment five years ago. The company bolsters its 5G operations with a robust spectrum position and an extensive fiber optic network, claiming to provide the most reliable 5G service in America, reaching over 200 million people.
Despite the ongoing transformation in the sector, Verizon Communications Inc. (NYSE:VZ) is getting a bullish outlook from analysts because of the company’s ability to deliver steady growth in revenue, EBITDA, and free cash flow in the coming months. This confidence is reinforced by Verizon’s Q1 2024 earnings, where the company reported approximately $33 billion in revenue, marking a slight 0.67% increase compared to the same period the previous year. In the first half of the year, the company generated over $16.5 billion in operating cash flow and its free cash flow for the period amounted to $8.5 billion.
Verizon Communications Inc. (NYSE:VZ) currently pays a quarterly dividend of $0.665 per share for a solid dividend yield of 6.55%, as recorded on August 16. It is among the best dividend stocks on our list as the company has been rewarding shareholders with growing dividends for the past 17 consecutive years.
Verizon Communications Inc. (NYSE:VZ) was a part of 67 hedge fund portfolios at the end of Q2 2024, the same as in the previous quarter, according to Insider Monkey’s database. The stakes held by these hedge funds have a collective value of over $1.5 billion.
6. Hercules Capital, Inc. (NYSE:HTGC)
Upside Potential as of August 16: 13.15%
Share Price as of the close of August 16: $18.40
Hercules Capital, Inc. (NYSE:HTGC) is a California-based specialty finance company that mainly offers senior secured loans to high-growth, venture capital-backed, and institutional-backed companies in a wide range of industries. Since its inception in December 2003, the company has committed over $20 billion to more than 660 companies, establishing itself as the preferred lender for entrepreneurs and venture capital firms looking for growth capital financing.
Hercules Capital, Inc. (NYSE:HTGC) benefits a lot from its business model and the sectors it operates in. The company focuses on life sciences, technology, software, and renewable energy—industries with strong long-term growth prospects. This specialized approach allows the company to better assess a business’s potential for growth and its ability to repay loans. Additionally, most of the company’s loans have floating interest rates, which adjust with market rates. While this can increase costs for borrowers, it also shields its earnings from the impact of interest rate fluctuations, helping to stabilize its bottom line amid recent volatility.
Hercules Capital, Inc. (NYSE:HTGC) company maintained its strong momentum into the second quarter of 2024, with its investment team achieving record gross funding of $1.07 billion in the first half of the year, marking a nearly 28% increase compared to the previous year. Supported by significant growth in its debt portfolio, the company reported record total investment income of $246.6 million and record net investment income of $161.5 million for the first half of 2024, reflecting year-over-year increases of over 11% and 14%, respectively.
Hercules Capital, Inc. (NYSE:HTGC) is a solid dividend payer with a strong history of paying supplemental dividends to shareholders. On July 30, the company declared a quarterly dividend of $0.40 per share and a supplemental dividend of $0.08 per share. In addition, the company has been growing its payouts for five consecutive years, which makes HTGC one of the best dividend stocks on our list. As of August 16, the stock supports a dividend yield of 13.04%.
Insider Monkey’s database of Q2 2024 indicated that 11 hedge funds held stakes in Hercules Capital, Inc. (NYSE:HTGC), down from 13 in the preceding quarter. The overall value of these stakes is more than $53.6 million. Marshall Wace LLP owned the largest stake in the company in Q2.
5. Enterprise Products Partners L.P. (NYSE:EPD)
Upside Potential as of August 16: 15.53%
Share Price as of the close of August 16: $29.17
Enterprise Products Partners L.P. (NYSE:EPD) is an American midstream natural gas and crude oil pipeline company that provides related products and petrochemicals. Energy companies are known for their generous dividends and EPD stands out as a particularly strong dividend investment. First and foremost, the company’s cash position is very strong to fund its dividends. In the second quarter of 2024, the company reported a distributable cash flow (DCF) of $1.8 billion, which showed a growth from $1.7 billion in the same period last year. Its operating cash flow for the period amounted to $2.1 billion, up from $1.9 billion in the prior-year period. Secondly, the company’s payout ratio is sustainable. For the twelve months ending June 30, the company’s payout ratio—encompassing distributions to common unit-holders and buybacks of partnership common units—was 55% of adjusted cash flow from operations.
Enterprise Products Partners L.P. (NYSE:EPD) gains significant advantages from its business model, which centers on midstream operations involving key infrastructure such as pipelines, storage facilities, and transportation systems. These assets are vital for connecting the upstream sector (drilling) with the downstream sector (refining and chemicals) and for linking to global markets. Midstream companies generally earn revenue by charging fees for the use of their infrastructure, operating as toll-taker businesses. As a result, their financial performance is primarily driven by energy demand rather than energy prices. Because energy demand remains robust even when prices are low, this model offers a degree of stability. In the second quarter of 2024, Enterprise Products Partners L.P. (NYSE:EPD) reported revenue of $13.48 billion, which saw a significant growth of 27% on a YoY basis.
On July 11, Enterprise Products Partners L.P. (NYSE:EPD) declared a 1.9% increase in its quarterly dividend to $0.525 per share. This marked the company’s second dividend hike this year and 26th consecutive year of dividend growth, which places EPD on our list of the best dividend stocks under $50. The stock has a dividend yield of 7.20%, as of August 16.
According to Insider Monkey’s database of Q2 2024, 23 hedge funds invested in Enterprise Products Partners L.P. (NYSE:EPD), which remained unchanged from the previous quarter. The consolidated value of these stakes is roughly $310 million.
4. Bank of America Corporation (NYSE:BAC)
Upside Potential as of August 16: 16.04%
Share Price as of the close of August 16: $39.34
With an upside potential of over 16%, BAC ranks fourth on our list of the best dividend stocks under $50. The American multinational financial services and investment banking company has been making uninterrupted dividend payments to shareholders for the past 26 years. The company announced an 8% hike in its quarterly dividend on July 24 which now takes its per-share dividend to $0.26. In the second quarter of 2024, it returned approximately $2 billion to shareholders through dividends. The stock offers a dividend yield of 2.64%, as of August 16.
Though Bank of America Corporation (NYSE:BAC) has surged by over 16% since the start of 2024, the stock declined by over 10% between July 17 to August 1. This decline followed the decision by its largest shareholder, Berkshire Hathaway, to sell its shares. In total, the hedge fund offloaded 90,422,124 shares, generating about $3.82 billion. Analysts suggest that the decision to sell BAC shares might be due to the bank’s sensitivity to interest rates. Although Bank of America previously gained from rising rates, the expected initiation of a rate-cutting cycle in September could lead to a quicker drop in its net interest income compared to other banks. Despite this, the company remains the second-largest holding in the hedge fund, a position it has consistently held for years, because this transaction is not reflected in the Q2 2024 13F filing, which only accounts for purchases and sales up to June 30.
This interest rate sensitivity was also highlighted by ClearBridge Investments in its Q1 2024 investor letter. Here is what the firm has to say:
“We added several new positions during the quarter. Our largest new addition was Bank of America Corporation (NYSE:BAC), one of the world’s leading financial institutions, serving some 66 million consumer and small business clients across the U.S. as well as large corporations, financial institutions and governments globally. We believe that the interest rate pressure that Bank of America faced in early 2023 has subsided, and risks surrounding deposit outflows have abated, which should allow the company to improve its book value and capital growth as well as benefit from a rebound of capital markets activity.”
The number of hedge funds tracked by Insider Monkey owning stakes in Bank of America Corporation (NYSE:BAC) jumped to 92 in Q2 2024, from 82 in the preceding quarter. These stakes are collectively valued at more than $48 billion.
3. Pfizer Inc. (NYSE:PFE)
Upside Potential as of August 16: 19.54%
Share Price as of the close of August 16: $28.3
Pfizer Inc. (NYSE:PFE) is a New York-based multinational pharmaceutical and biotech company. The company saw significant gains during the pandemic, primarily due to its vaccine revenues, with an increase of nearly 60% from June 2020 to June 2022. However, it has struggled to maintain that momentum since then, experiencing a 22.8% decline over the past year. On a positive note, recent earnings reports indicate that the company is showing signs of a growth rebound. In the second quarter of 2024, the company reported revenues of $13.3 billion, up 4.3% from the same period last year. Its strong 14% increase in operational revenue from non-COVID products during the second quarter also highlighted its ongoing commitment to effective commercial execution.
Though Pfizer Inc. (NYSE:PFE) has fallen significantly over the last year, Parnassus Investments highlighted reasons to add the stock to income portfolios. Here is what the firm has to say about PFE in its Q1 2024 investor letter.
“During the quarter, we added new positions in Pfizer Inc. (NYSE:PFE), NICE and Charter Communications. We purchased Pfizer to capture the potential upside from any turnaround following the COVID-induced boom-bust cycle of the last few years. Pfizer’s stock price sank by more than 40% in 2023 as COVID-19 vaccine revenues rolled off, providing an attractive entry point for us. The company completed its acquisition of Seagen, which should strengthen Pfizer’s pipeline in antibody-drug conjugates (ADC). Pfizer also offers an attractive dividend yield.”
Pfizer Inc. (NYSE:PFE) holds a strong dividend history as the company has never missed a dividend in 85 consecutive years. In addition, it has raised its payouts every year for the last 14 years, which makes PFE one of the best dividend stocks under $50. In the first six months of the year, the company returned $4.8 billion to shareholders through dividends. Currently, it offers a quarterly dividend of $0.42 per share and has a dividend yield of 5.94%, as of August 16.
Pfizer Inc. (NYSE:PFE) was a popular buy among elite funds at the end of Q2 2024, as hedge fund positions in the company grew to 84, from 77 in the previous quarter, according to Insider Monkey’s database. The stakes held by these hedge funds have a total value of over $3.6 billion.
2. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)
Upside Potential as of August 16: 25.18%
Share Price as of the close of August 16: $10.92
Walgreens Boots Alliance, Inc. (NASDAQ:WBA) ranks second on our list of the best dividend stocks under $50. The Illinois-based retailer has faced significant challenges this year, beginning with a drastic reduction in its dividend, which had been consistently increased for nearly fifty years. This decision did not come overnight, as the company’s cash flow has been concerning over the past five years. Additionally, the company recently announced it is selling more shares in Cencora, raising about $1.1 billion from this transaction. This move reduces its stake in Cencora from 12% to around 10%. The funds from the sale will be used to reduce debt and support operations as the company shifts its focus towards a health services strategy.
For income investors concerned about the dividend cut, analysts suggest that there is potential for Walgreens Boots Alliance, Inc. (NASDAQ:WBA) to recover. Much of the optimism is based on the management’s cost-cutting initiatives. The new CEO has proposed closing several underperforming stores and scaling back on primary-care ventures. In addition, the company plans to introduce a US Retail Pharmacy action plan to enhance customer and patient experiences. It will also streamline its US Healthcare portfolio and better align its pharmacy and healthcare operations to strengthen its market capabilities.
This somewhat positive outlook was also highlighted by Ariel Investments in its Q1 2024 investor letter. Here is what the firm has to say about WBA:
“Alternatively, several positions weighed on performance. Shares of retail drugstore operator, Walgreens Boots Alliance, Inc. (NASDAQ:WBA), declined over the period as challenging consumer and macroeconomic conditions, ongoing operational issues and a significant cut in the dividend weighed on shares. To address these performance lows, WBA’s new CEO is rebuilding the company’s management team with leaders who have significant experience in healthcare services. Meanwhile, WBA continues to execute on its cost savings initiatives to optimize profitability and is using excess capital to prioritize the sustainability of its operations and balance sheet. Over the medium-term, we expect a re-rating in shares as the new executive team earns credibility, margins and free cash flow show signs of improvement and the company deleverages. WBA shares are currently trading at a significant discount to our estimate of private market value.”
Moreover, Walgreens Boots Alliance, Inc. (NASDAQ:WBA) also showed an encouraging cash flow picture in fiscal Q3 2024. The company’s operating cash flow for the quarter came in at $605 million and its free cash flow amounted to $334 million. In the first nine months of the year, the company returned over $1 billion to shareholders through dividends. The company’s quarterly dividend comes in at $0.25 per share for a dividend yield of 9.16%, as of August 16.
At the end of the June quarter of 2024, 35 hedge funds held stakes in Walgreens Boots Alliance, Inc. (NASDAQ:WBA), down from 41 in the previous quarter. These stakes have a total value of nearly $427 million. With over 5.6 million shares, 8 Knots Management was the company’s leading stakeholder in Q2.
1. Nutrien Ltd. (NYSE:NTR)
Upside Potential as of August 16: 27.90%
Share Price as of the close of August 16: $46.78
Nutrien Ltd. (NYSE:NTR) is a Canadian fertilizer and agriculture company. It is one of the largest producers of potash in the world. The company’s performance has declined primarily due to rising inflation, fluctuating commodity prices, and increased production costs. In the second quarter of 2024, the company reported revenue of $9.9 billion, which not only fell by 13% on a YoY basis but also missed analysts’ estimates by $817 million.
Despite these challenges, Nutrien Ltd. (NYSE:NTR) has demonstrated confidence in its operations throughout the quarter. The company experienced benefits from increased Retail margins, higher fertilizer sales volumes, and reduced operating costs during the first half of 2024. The demand for crop inputs remains robust, leading the company to raise its full-year forecast for global potash demand, supported by strong engagement across all major markets. Though the company has $13.37 billion in debt as of the most recent quarter with a debt-to-equity ratio of 0.53, it shouldn’t concern income investors because its cash generation is in place. In the second quarter of 2024, the company generated $1.8 billion in operating cash flow and paid $266 million to shareholders through dividends.
Nutrien Ltd. (NYSE:NTR) tops our list of the best dividend stocks under $50. It has increased its dividends for five years in a row. Currently, the company pays a quarterly dividend of $0.54 per share and has a dividend yield of 4.64%, as of August 16.
At the end of the second quarter of 2024, 35 hedge funds tracked by Insider Monkey held stakes in Nutrien Ltd. (NYSE:NTR), up from 33 in the previous quarter. These stakes are worth over $386.4 million in total. Among these hedge funds, First Eagle Investment Management was the company’s leading stakeholder in Q2.
While we acknowledge the potential of NTR as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued dividend stock that is more promising than NTR but that trades at less than 7 times its earnings and yields nearly 10%, check out our report about the dirt cheap dividend stock.
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Disclosure: None. This article is originally published at Insider Monkey.
