5 Safe Dividend Stocks With Over 5% Yield

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

Dividend Yield as of June 21: 7.93%

Enterprise Products Partners L.P. (NYSE:EPD) is a Texas-based midstream natural gas and crude oil pipeline company. In May, CNBC’s commentator called the stock one of the safest options in this current environment and was placed as a final trade. The stock is up 7.99% year-to-date, as of the close of June 21.

In Q1 2022, Enterprise Products Partners L.P. (NYSE:EPD) reported its crude oil transportation volume at 2.2 million bbl/day, up from 1.9 million bbl/day a year earlier. Moreover, the company’s revenue of $13 billion saw a 41.9% year-over-year growth. Following the company’s strong Q1 results, Truist lifted its price target on Enterprise Products Partners L.P. (NYSE:EPD) to $30 in May, with a Buy rating on the shares.

Enterprise Products Partners L.P. (NYSE:EPD) currently offers a quarterly payout of $0.465 per share, increasing it by 3% in January. The company maintains a 23-year track record of consistent dividend growth. The stock’s dividend yield was recorded at 7.93% on June 21.

As of the quarter ended in March, 19 hedge funds in Insider Monkey’s database owned stakes in Enterprise Products Partners L.P. (NYSE:EPD), down from 21 in the previous quarter. The consolidated value of these stakes is over $177.5 million. With stakes worth $84.5 million, First Eagle Investment Management was the company’s leading shareholder in Q1.