5 Very High Yield Dividend Stocks With Upside Potential

In this article, we discuss 5 very high yield dividend stocks with upside potential. If you want to read our detailed analysis of dividend stocks and their performance in the past, go directly to read 12 Very High Yield Dividend Stocks With Upside Potential. 

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

Number of Hedge Fund Holders: 25
Upside Potential as of November 28: 19.4%

Enterprise Products Partners L.P. (NYSE:EPD) is a leading midstream energy company primarily involved in the transportation and storage of natural gas, crude oil, refined products, and petrochemicals. It is one of the best dividend stocks on our list as the company has been growing its dividends for 24 consecutive years. The company pays a quarterly dividend of $0.50 per share and has a dividend yield of 8.01%, as of November 28.

At the end of Q3 2023, 25 hedge funds tracked by Insider Monkey reported having stakes in Enterprise Products Partners L.P. (NYSE:EPD), the same as in the preceding quarter. The consolidated value of these stakes is over $325.2 million.

4. Walgreens Boots Alliance, Inc. (NASDAQ:WBA)

Number of Hedge Fund Holders: 31
Upside Potential as of November 28: 32.07%

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) is next on our list of the best dividend stocks with upside potential. The global pharmaceutical and well-being company has raised its dividends for 47 years in a row and it currently offers a quarterly dividend of $0.48 per share. As of November 28, the stock has a dividend yield of 9.64%.

As of the close of Q3 2023, 31 hedge funds in Insider Monkey’s database reported having stakes in Walgreens Boots Alliance, Inc. (NASDAQ:WBA), compared with 34 in the previous quarter. These stakes are collectively valued at nearly $460 million.

3. Energy Transfer LP (NYSE:ET)

Number of Hedge Fund Holders: 34
Upside Potential as of November 28: 32.70%

Energy Transfer LP (NYSE:ET) is a company that is involved in the midstream energy sector, specializing in the transportation, storage, and distribution of various energy commodities. The company pays a quarterly dividend of $0.3125 per share, having raised it by 0.8% in October this year. This marked the company’s eighth consecutive year of dividend growth. With a dividend yield of 9.14%, as of November 28, ET is one of the best dividend stocks on our list.

Energy Transfer LP (NYSE:ET) was a part of 34 hedge fund portfolios at the end of Q3 2023, which remained unchanged from the previous quarter, as per Insider Monkey’s database. The stakes owned by these funds have a collective value of over $803.2 million. Among these hedge funds, Abrams Capital Management was the company’s leading stakeholder in Q3.

2. Altria Group, Inc. (NYSE:MO)

Number of Hedge Fund Holders: 40
Upside Potential as of November 28: 8.35%

Altria Group, Inc. (NYSE:MO) is an American multinational tobacco company that operates through its various subsidiaries. The company holds a 54-year track record of consistent dividend growth and it currently offers a quarterly dividend of $0.98 per share. The stock’s dividend yield on November 28 came in at 9.40%.

As of the end of September 2023, 40 hedge funds tracked by Insider Monkey reported owning stakes in Altria Group, Inc. (NYSE:MO), down from 43 in the preceding quarter. The consolidated value of these stakes is more than $565 million.

1. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 52
Upside Potential as of November 28: 26.33%

An American independent energy company, Devon Energy Corporation (NYSE:DVN) tops our list of the best dividend stocks with upside potential. The company currently offers a quarterly dividend of $0.77 per share and has a dividend yield of 9.39%, as of November 28.

The number of hedge funds tracked by Insider Monkey owning stakes in Devon Energy Corporation (NYSE:DVN) grew to 52 in Q3 2023, from 45 in the previous quarter. The consolidated value of these stakes is more than $863.6 million.

You can also take a look at 12 Best Performing S&P 500 Stocks in the Last 10 Years and 10 Stocks Billionaire David Tepper Just Bought and Sold