In this article, we discuss the billionaire Paul Singer’s 5 dividend stock picks. If you want to read our detailed analysis of Paul Singer’s hedge fund, Elliott Management, and its past performance, go directly to read Billionaire Paul Singer’s 10 Dividend Stock Picks.
5. Evergy, Inc. (NYSE:EVRG)
Number of Hedge Fund Holders: 25
Dividend Yield as of February 15: 3.70%
Elliott Management’s Stake Value: $655,707,000
This January, Goldman Sachs appreciated Evergy, Inc. (NYSE:EVRG), an American electric services company, as it outperformed in 2021 due to its strong execution. The firm set a $72 price target on the stock, with a Neutral rating on the shares.
Currently, Evergy, Inc. (NYSE:EVRG) offers a quarterly dividend of $0.5725 per share, showing a 7% growth from its previous dividend. The company expects the dividend to grow by 6%-8% in the next two years. In Q3 2021, Elliott Management held shares worth over $655.7 million in Evergy, Inc. (NYSE:EVRG), which represented 4.7% of its portfolio.
The number of hedge funds tracked by Insider Monkey reported owning stakes in Evergy, Inc. (NYSE:EVRG) grew to 25 in Q3, from 21 in the previous quarter. These stakes hold a value of over $908 million.
4. Duke Energy Corporation (NYSE:DUK)
Number of Hedge Fund Holders: 32
Dividend Yield as of February 15: 3.94%
Elliott Management’s Stake Value: $97,590,000
Duke Energy Corporation (NYSE:DUK) is an electric power and natural gas company, based in North Carolina, U.S. In Q3 2021, the company accounted for 0.7% of Elliott Management’s portfolio as the hedge fund held shares worth over $97.5 million.
Renaissance Technologies was the largest shareholder of Duke Energy Corporation (NYSE:DUK) in Q3, holding shares worth roughly $168 million. Overall, 32 hedge funds tracked by Insider Monkey held stakes in the company in Q3, down from 36 in the previous quarter. These stakes hold a consolidated value of $687.5 million.
In 2021, Duke Energy Corporation (NYSE:DUK) increased its quarterly dividend by 2% at $0.985 per share. Duke Energy Corporation (NYSE:DUK) has been a dividend payer to shareholders for the past 96 years. As the company announced its strategy to accelerate clean energy investments, in December, Barclays reinstated Duke Energy Corporation (NYSE:DUK) with an Equal Weight rating and a $110 price target.
3. Healthcare Trust of America, Inc. (NYSE:HTA)
Number of Hedge Fund Holders: 14
Dividend Yield as of February 15: 4.23%
Elliott Management’s Stake Value: $98,620,000
An American real estate investment trust, Healthcare Trust of America, Inc. (NYSE:HTA) increased its quarterly dividend by 1.6% in November 2021. Currently, the company pays a quarterly dividend of $0.325 per share, with a dividend yield of 4.23%. Healthcare Trust of America, Inc. (NYSE:HTA) has increased its dividend consecutively for the past eight years and has a dividend payout ratio of 89%.
Healthcare Trust of America, Inc. (NYSE:HTA) was the latest holding of Elliott Management in Q3 and represented 0.7% of Paul Singer’s portfolio. The hedge fund held shares worth over $98.6 million in the company. In February, Credit Suisse mentioned the company’s expected earnings growth. The firm initiated its coverage on Healthcare Trust of America, Inc. (NYSE:HTA) with an Outperform rating.
At the end of Q3 2021, 14 hedge funds tracked by Insider Monkey reported owning stakes in Healthcare Trust of America, Inc. (NYSE:HTA), down significantly from 23 in the previous quarter. The total value of these stakes is over $381.7 million, up from $226.4 million in Q2.
2. Uniti Group Inc. (NASDAQ:UNIT)
Number of Hedge Fund Holders: 14
Dividend Yield as of February 15: 5.33%
Elliott Management’s Stake Value: $253,285,000
Uniti Group Inc. (NASDAQ:UNIT) is an American real estate investment trust that invests in the communications industry. At the end of Q3 2021, Paul Singer’s Elliott Management held a stake worth over $253.2 million in the company, which represented 1.81% of its 13F portfolio.
Uniti Group Inc. (NASDAQ:UNIT) pays a quarterly dividend of $0.15 per share. The company did slash its dividend payments during 2019 but its five-year dividend growth rate of 4.78% makes it notable among dividend investors.
The number of hedge funds tracked by Insider Monkey having stakes in Uniti Group Inc. (NASDAQ:UNIT) stood at 14 in Q3 2021. These stakes hold a value of roughly $351 million. In comparison, 16 hedge funds held stakes in the company in the preceding quarter, worth $295.6 million.
1. AT&T Inc. (NYSE:T)
Number of Hedge Fund Holders: 66
Dividend Yield as of February 15: 8.65%
Elliott Management’s Stake Value: $135,050,000
AT&T Inc. (NYSE:T) is one of the world’s largest telecommunications companies based in Texas, U.S. Though the company has been increasing its dividends for the past 36 years, it has recently announced to cut its annual dividend of $2.08 per share to nearly in half at $1.11 per share. The step was taken as the company announced to spinoff WarnerMedia in a $43 billion deal to merge its media properties with Discovery.
As per Insider Monkey’s Q3 data, 66 hedge funds held stakes worth over $3.2 billion in AT&T Inc. (NYSE:T) in Q3. In the previous quarter, 68 hedge funds held positions in the company, with stakes valued at roughly $2.9 billion.
This January, Tigress Financial raised its price target on AT&T Inc. (NYSE:T) to $41, with a Buy rating on the shares, appreciating the company’s ongoing subscriber growth. By the end of Q3 2021, Elliott Management held 5 million shares in AT&T Inc. (NYSE:T), valued at over $135 million. The company represented 0.96% of Paul Singer’s portfolio.
Nelson Capital Management mentioned AT&T Inc. (NYSE:T) in its Q1 2021 investor letter. Here is what the firm has to say:
“Nelson Capital stayed busy in the first quarter, making several adjustments within our core portfolio. In the communication services sector, we sold AT&T (tkr: T). Over the years, AT&T has made several poor acquisitions, especially in the content realm, leaving the company saddled with debt and unable to change directions.”
You can also take a look at 15 Best Dividend Stocks Right Now and 10 Best Dividend Stocks to Buy According to Billionaire Andreas Halvorsen
