5 Best Low-Priced Dividend Stocks to Buy

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

Share Price as of January 23: $26.2
P/E Ratio as of January 23: 11.30

Enterprise Products Partners L.P. (NYSE:EPD) is a Texas-based midstream natural gas and crude oil pipeline company. On January 5, the company declared a 3.2% hike in its quarterly dividend to $0.49 per share. This marked the company’s 23rd consecutive year of dividend growth. The stock’s dividend yield on January 23 came in at 7.51%.

In January, Wolfe Research upgraded Enterprise Products Partners L.P. (NYSE:EPD) to Outperform with a $27 price target. The firm appreciated the company’s balance sheet, dividend yield, excess free cash flow, and core business.

Enterprise Products Partners L.P. (NYSE:EPD), one of the best low-priced dividend stocks, is currently trading at $26.2 per share and has a P/E ratio of 11.30.

In the third quarter of 2022, Enterprise Products Partners L.P. (NYSE:EPD) reported a strong cash position with its distributable cash flow standing at nearly $2 billion. The company’s adjusted operating cash flow for the quarter came in at $2 billion, compared with $1.7 billion during the same period last year.

At the end of Q3 2022, 21 hedge funds tracked by Insider Monkey owned stakes in Enterprise Products Partners L.P. (NYSE:EPD), compared with 23 in the previous quarter. The collective worth of these stakes is over $221.6 million.

Fairholme Capital Management mentioned Enterprise Products Partners L.P. (NYSE:EPD) in its Q2 2022 investor letter. Here is what the firm has to say:

“Enterprise Products Partners L.P. (NYSE:EPD) is the largest position in the Fund. Enterprise provides processing and transportation services to producers and consumers of natural gas, natural gas liquids, and oil. These hydrocarbons are critical for modern life and have few if any, ready substitutes. Commodity prices do not greatly affect the company’s toll road fees. Enterprise is priced at less than nine times distributable cash flows and pays a 7.5% cash distribution.”