5 Best Oil Stocks that Pay Dividends

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

Number of Hedge Fund Holders: 26
Dividend Yield: 7.65%

Enterprise Products Partners L.P. (NYSE: EPD) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids, crude oil, petrochemicals, and refined products. The company ranks 1st on our list of the best oil stocks that pay dividends.

TD Securities has a Buy rating on Enterprise Products Partners L.P. (NYSE: EPD) shares, led by analyst Linda Ezergailis. Ezergailis also set a $28 price target on Enterprise Products Partners L.P. (NYSE: EPD).

In the first quarter of 2021, Enterprise Products Partners L.P. (NYSE: EPD) had an EPS of $0.64, beating estimates by $0.17. The company’s revenue was $9.16 billion, up 22.36% year over year and also beating estimates by $2.08 billion. Enterprise Products Partners L.P. (NYSE: EPD) has gained about 11.36% in the past 6 months and 21.93% year to date as well.

By the end of the first quarter of 2021, 26 hedge funds out of the 866 tracked by Insider Monkey held stakes in Enterprise Products Partners L.P. (NYSE: EPD) worth roughly $299 million. This is compared to 30 hedge funds in the previous quarter with stakes worth approximately $316 million.

ClearBridge Investments, an investment management firm, mentioned Enterprise Products Partners L.P. (NYSE: EPD) in its first-quarter 2021 investor letter. Here’s what they said:

“While reducing in health care and consumer staples, we increased our exposure to high-quality names in economically sensitive areas of the market. We added to low-cost, high-quality energy names (including) Enterprise Products Partners LP. We are positive on this company’s strong balance sheets, competitive positions and exposure to an economic recovery.”

You can also take a peek at 10 Best Oil Stocks to Buy Amid Post-COVID Demand Boom and Price Volatility and 10 Best Oil Stocks To Buy Now.

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