5 Dividend Stock Picks of Billionaire Mario Gabelli

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

Number of Hedge Fund Holders: 25
Dividend Yield: 8.56%

Enterprise Products Partners L.P. (NYSE:EPD) is a holding company specializing in natural gas and petrochemicals production and trading. In October, Wolfe Research analyst Keith Stanley downgraded Enterprise Products Partners L.P. (NYSE:EPD) to “Peer Perform” from “Outperform” and gave a price target of $24. Stanley advises investors in a research note that the next midstream earnings season looks good but not extraordinary.

In the third quarter of 2021, Enterprise Products Partners L.P. (NYSE:EPD) had an EPS of $0.53, beating the estimates by $0.02. The company’s revenue was $10.83 billion, up 54.9% year over year and beating estimates by $2.32 billion.

Our data shows 25 hedge funds holding stakes in Enterprise Products Partners L.P. (NYSE:EPD) in the third quarter, worth $233.26 million. In the second quarter, 28 hedge funds held stakes in the company worth $246.06 million, in comparison.

ClearBridge Investments, in its first-quarter 2021 investor letter, mentioned Enterprise Products Partners L.P. (NYSE:EPD). Here is what the fund 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.”