12 Best High Dividend Stocks Under $100

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

Number of Hedge Fund Holders: 25

Dividend Yield as of January 24: 6.37%

Share Price as of January 24: $33.57

Enterprise Products Partners L.P. (NYSE:EPD) is a Texas-based midstream natural gas and crude oil pipeline company that offers petrochemicals and related products. The company maintains a positive outlook, but a significant challenge for Enterprise and other carbon energy businesses is the rise of clean energy. While this poses a genuine long-term threat, the transition is expected to unfold over several decades. Despite the growth of alternative energy, demand for oil—and especially natural gas, a major focus for Enterprise—is anticipated to stay strong in the near future. Carbon-based fuels remain essential to the global economy, making it unlikely that their usage will cease abruptly. In the past year, the stock has surged by nearly 24%.

Enterprise Products Partners L.P. (NYSE:EPD) has gained attention from investors for its solid cash performance. In the most recent quarter, the company reported an operating cash flow of $2.1 billion, which showed a 4% increase compared to the previous year. Distributable cash flow also rose by 5%, reaching $2 billion for the quarter. Over the 12 months ending September 30, 2024, Enterprise allocated 56% of its Adjusted Cash Flow from Operations (CFFO) toward distributions to common unitholders and the repurchase of partnership common units.

On January 8, Enterprise Products Partners L.P. (NYSE:EPD) reported a 1.9% hike in its quarterly dividend to $0.535 per share. Through this increase, the company stretched its dividend growth streak to 27 years, which makes EPD one of the best dividend stocks on our list. The stock supports a dividend yield of 6.37%, as of January 24.

According to Insider Monkey’s database, 25 hedge funds owned stakes in Enterprise Products Partners L.P. (NYSE:EPD), up from 23 a quarter earlier. These stakes are worth roughly $316 million in total. Among these hedge funds, Fairholme (FAIRX) was the company’s leading stakeholder in Q3.