5 Best Dividend Stocks to Buy According to Billionaire Kerr Neilson

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

Neilson’s Stake Value: $82,000
Percentage of Kerr Neilson’s 13F Portfolio: 0.001%
Dividend Yield: 8.57%
No. of Hedge Fund Holders:22

Magellan Midstream Partners, L.P. (NYSE: MMP) is engaged in the storage, transportation, and distribution of crude oil and refined petroleum products in the U.S. The company recently reported its Q1 2021 net income at $221.3 million, down from $287.6 million in the previous year. MMP’s net income per common unit came in at 99 cents during Q1 2021, while it was reported at $1.26 in Q1 2020. The company also increased annual DCF guidance to $1.07 billion for the present year, reporting a $50 million rise. 

Meanwhile, Magellan has also sold around half of the membership interest in JV concerning Pasadena marine terminal. The transaction was worth $270 million. The company now has about 25% of MVP Terminalling.