5 Best Dividend Stocks to Buy According to Billionaire George Soros

1. Magellan Midstream Partners, L.P. (NYSE: MMP)

Soros’s Stake Value: $3,543,000
Percentage of George Soros’s 13F Portfolio: 0.06%
Dividend Yield: 7.91%
Number of Hedge Fund Holders: 14

Magellan Midstream Partners, L.P. (NYSE: MMP) is an American crude oil and petroleum-making company. It was founded in 2000 and is placed first on our list of 10 best dividend stocks to buy according to billionaire George Soros. The company has returned more than 11% to investors over the course of the past twelve months. 

Magellan Midstream Partners is one of the best high-yield dividend stocks to buy according to billionaire investor George Soros. On April 22, the company declared a quarterly dividend of $1.0275 per share. Forward yield for the stock comes in at 9.00%. Later in April, the company also posted Q1 2021 revenue of $661.07 million, down 15.6% YoY, missing estimates by $8.51 million. The earnings per share for the first three months of 2021 was $1.09, beating market predictions by $0.23.

The hedge fund run by George Soros owns 81,700 shares in the company worth over $3.54 million. At the end of the first quarter of 2021, 14 hedge funds in the database of Insider Monkey held stakes worth $85.04 million in Magellan Midstream Partners, L.P. (NYSE: MMP), down 22 from the preceding quarter worth $146.29 million. 

You can also take a peek at 10 Extreme Dividend Stocks with Huge Upside and 10 Blue Chip Dividend Stocks Hedge Funds Are Buying.

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