5 Best High Yield Dividend Stocks Under $50

1. MPLX LP (NYSE: MPLX)

Number of Hedge Fund Holders: 8
Dividend Yield: 9.29%

MPLX LP (NYSE: MPLX) is an operator of midstream energy infrastructure and logistics assets in the US. The company has two segments: Logistics and Storage, and Gathering and Processing. It ranks 1st on our list of the best high yield dividend stocks under $50.

This February, the CEO of MPLX LP (NYSE: MPLX) mentioned that the company might see excess cash this year, which can be used to buy its shares back. In the first quarter of 2021, MPLX LP (NYSE: MPLX) had an EPS of $0.67, beating estimates by $0.06. The company’s revenue was $2.34 billion, up 135.79% year over year, and beat estimates by $201.37 million, and it also has a gross profit margin of 61.22%. The stock has a forward PE ratio of 10.41 and has gained 34.77% in the past 6 months and year to date.

By the end of the first quarter of 2021, 8 hedge funds out of the 866 tracked by Insider Monkey held stakes in MPLX LP (NYSE: MPLX), worth about $136 million. This is compared to 13 hedge fund holders in the previous quarter, holding stakes worth roughly $142 million.

Miller/Howard Investments, an investment management firm, mentioned MPLX LP (NYSE: MPLX) in its first-quarter 2021 investor letter. Here’s what they said:

“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.”

See also 10 Best Dividend Stocks Under $20 and Top 10 Dividend Stocks That Pay Monthly.

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