5 Best Dividend Stocks to Buy According to Billionaire George Soros

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

Soros’s Stake Value: $4,184,000
Percentage of George Soros’s 13F Portfolio: 0.07%
Dividend Yield: 7.36%
Number of Hedge Fund Holders: 26 

Enterprise Products Partners L.P. (NYSE: EPD) provides services like storage, processing, and transportation of petroleum products to its customers. It was founded in 1968 and is ranked second on our list of 10 best dividend stocks to buy according to billionaire George Soros. The company has returned more than 16% to investors over the past year.

On April 6, TD Securities rated the stock as “Buy,” with a price target of $28.00. In April, Enterprise Products declared a quarterly dividend of $0.45 per share, in line with the previous. Last month, the company announced Q1 2021 revenue of $9.16 billion, up 22.5% YoY, beating the estimates by $2.09 billion. 

Soros Fund Management holds 190,000 shares in the company worth over $4.18 million. Arrowstreet Capital is a leading shareholder in Enterprise Products Partners L.P. (NYSE: EPD), with 3.68 million shares worth more than $81.14 million. 

In its Q 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Enterprise Products Partners was one of them. Here is what the fund said:

“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names (including) Enterprise Products Partners LP. We are positive on this company’s strong balance sheets, competitive positions and exposure to an economic recovery.”