In this article, we discuss 5 best MLP dividend stocks to buy. If you want to read our detailed analysis of the MLP dividend stocks and their performance over the years, go directly to read 11 Best MLP Dividend Stocks To Buy.
5. Alliance Resource Partners, L.P. (NASDAQ:ARLP)
Number of Hedge Fund Holders: 8
Alliance Resource Partners, L.P. (NASDAQ:ARLP) is a master limited partnership that is engaged in the production and marketing of coal. The company primarily operates in the coal industry, with a focus on thermal coal used for electricity generation. It holds a very strong dividend growth record, having raised its payouts multiple times over the years. The company offers a quarterly dividend of $0.70 per share and has a dividend yield of 12.64%, as of January 22. It is among the best MLP dividend stocks to buy.
At the end of the third quarter of 2023, 8 hedge funds tracked by Insider Monkey owned stakes in Alliance Resource Partners, L.P. (NASDAQ:ARLP), up from 7 in the previous quarter. The overall value of these stakes is more than $84.8 million.
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4. MPLX LP (NYSE:MPLX)
Number of Hedge Fund Holders: 9
MPLX LP (NYSE:MPLX) is involved in the gathering, processing, transportation, and storage of energy resources, primarily focusing on crude oil and natural gas. The company remained popular among elite funds in Q3 2023, as it ended the quarter with 9 hedge fund positions, up from 6 in the previous quarter, according to our database. The stakes owned by these hedge funds have a collective value of over $37.6 million.
MPLX LP (NYSE:MPLX) is one of the best MLP dividend stocks on our list as the company has been growing its dividends for the past 10 consecutive years. It pays a quarterly dividend of $0.85 per share and has a dividend yield of 9.09%, as of January 22.
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Follow Mplx Lp (NYSE:MPLX)
3. Brookfield Infrastructure Partners L.P. (NYSE:BIP)
Number of Hedge Fund Holders: 17
Brookfield Infrastructure Partners L.P. (NYSE:BIP) is an infrastructure company that owns and operates a diversified portfolio of infrastructure assets. The company offers a quarterly dividend of $0.3825 per share and has a dividend yield of 5.01%, as of January 22. With a dividend growth streak of 15 years under its belt, BIP is one of the best MLP dividend stocks on our list.
The number of hedge funds tracked by Insider Monkey owning stakes in Brookfield Infrastructure Partners L.P. (NYSE:BIP) grew to 17 in Q3 2023, from 11 in the previous quarter. These stakes have a collective value of over $115.7 million. Among these hedge funds, Select Equity Group was the company’s leading stakeholder in Q3.
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Follow Brookfield Infrastruc Partner Lp (NYSE:BIP)
2. Enterprise Products Partners L.P. (NYSE:EPD)
Number of Hedge Fund Holders: 25
Enterprise Products Partners L.P. (NYSE:EPD) operates in the midstream energy sector. The company is involved in the transportation, storage, and processing of natural gas, natural gas liquids, crude oil, refined products, and petrochemicals. On January 8, the company declared a 3% hike in its quarterly dividend to $0.515 per share. Through this increase, the company stretched its dividend growth streak to 25 years, which makes EPD one of the best MLP dividend stocks on our list.
At the end of September 2023, 25 hedge funds tracked by Insider Monkey reported having stakes in Enterprise Products Partners L.P. (NYSE:EPD), the same as in the previous quarter. The collective value of these stakes is more than $325.2 million.
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1. Energy Transfer LP (NYSE:ET)
Number of Hedge Fund Holders: 34
Energy Transfer LP (NYSE:ET) tops our list of the best MLP dividend stocks to buy now. The transportation and storage company has been raising its dividends for eight consecutive quarters and offers a quarterly dividend of $0.3125 per share. The stock has a dividend yield of 9.01%, as of January 22.
The number of hedge funds tracked by Insider Monkey owning stakes in Energy Transfer LP (NYSE:ET) stood at 34 in Q3 2023, which remained unchanged from the previous quarter. The total value of these stakes is over $803.2 million.
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You can also take a look at Cathie Wood’s Latest Stock Picks: 11 Biggest Positions and 15 Best Affordable Stocks To Buy Now
