5 Best MLP Dividend Stocks To Buy

3. Plains All American Pipeline, L.P. (NASDAQ:PAA)

Number of Hedge Fund Holders: 6

Dividend Yield as of March 15: 6.81%

Plains All American Pipeline, L.P. (NASDAQ:PAA) is a Texas-based company that provides pipeline transportation and storage of crude oil and natural gas liquids in the United States and Canada. 

On January 27, Plains All American Pipeline, L.P. (NASDAQ:PAA) declared a $0.18 per share quarterly dividend. The dividend was paid on February 14, to shareholders of record on January 31. 

Bernstein analyst Jean Ann Salisbury upgraded Plains All American Pipeline, L.P. (NASDAQ:PAA) on January 25 to Outperform from Market Perform with a $14.50 price target, suggesting 33% upside. The analyst observed that at the end of 2021, the Permian growth was quicker than anticipated and there is a “reasonably high likelihood” that one or two crude pipelines will convert to gas “or something else”. He cited these developments for the upgrade.

A total of 6 hedge funds were bullish on Plains All American Pipeline, L.P. (NASDAQ:PAA) in Q4 2021, compared to 7 funds in the previous quarter. Arrowstreet Capital is the largest shareholder, with 2.1 million shares worth $19.76 million.