5 Tax-Advantaged MLPs with High Dividend Yields

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

Number of Hedge Fund Holders: 28
Dividend Yield: 8.12%

Enterprise Products Partners L.P. (NYSE: EPD) is another energy company on our list of tax-advantaged MLPs with high dividend yields. The company offers provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products, and ranks 3rd on our list.

This April, TD Securities analyst Linda Ezergailis began covering shares of Enterprise Products Partners L.P. (NYSE: EPD) with a Buy rating alongside a $28 price target.

In the second quarter of 2021, Enterprise Products Partners L.P. (NYSE: EPD) had an EPS of $0.51, beating estimates by $0.01. The company’s revenue was $9.45 billion, up 64.32% year over year and beating estimates by $1.54 billion. Enterprise Products Partners L.P. (NYSE: EPD) has gained 4.03% in the past 6 months and 14.98% year to date.

By the end of the second quarter of 2021, 28 hedge funds out of the 873 tracked by Insider Monkey held stakes in Enterprise Products Partners L.P. (NYSE: EPD) worth roughly $246 million. This is compared to 26 hedge funds in the previous quarter with a total stake value of approximately $299 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.”