5 Best High Dividend Stocks Under $50

1. MPLX LP (NYSE:MPLX)

Number of Hedge Fund Holders: 11
Dividend Yield: 9.09%
Share Price as of October 14: $30.93

MPLX LP (NYSE:MPLX) is a master limited partnership (MLP) that operates midstream energy infrastructure. Due to the stability in the oil prices in recent months, the company is well-positioned to benefit. MPLX LP (NYSE:MPLX) tops our list of the best high dividend stocks under $50.

Zimmer Partners is the largest shareholder of MPLX LP (NYSE:MPLX) in Q2, with shares worth $51.2 million. In addition to this, 11 hedge funds tracked by Insider Monkey were bullish on the company in Q2, valued at $115.6 million. The number of hedge funds having stakes in MPLX LP (NYSE:MPLX) stood at 8 in the previous quarter, showing positive hedge fund sentiment.

MPLX LP (NYSE:MPLX) pays an annual dividend of $2.75 per share, yielding 9.09%. The company has increased its dividend by 24.3% in the past three years. In Q2 2021, MPLX LP (NYSE:MPLX) reported revenue of $2.4 billion, showcasing a 15.4% year-over-year growth. In October, Barclays lifted its price target on the stock to $33, while keeping an Overweight rating on the shares.

Miller/Howard Investments mentioned MPLX LP (NYSE:MPLX) in its Q1 2021 investor letter. Here is what the firm has to say:

“Lastly, we added MPLX LP (MPLX) in the with-MLP version. MLPX pays a high dividend and is cheap relative to similar pipeline companies… We increased our weight in MPLX LP (MPLX) which provides exposure to Permian volumes and northeast natural gas volumes. In addition, the company’s FCF yield was above the portfolio’s FCF yield.”

You can also take a look at 10 Best Dividend Paying Stocks to Buy Under $50 and 10 Best Dividend Stocks Under $20

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