Top 5 Dividend Stock Picks of Billionaire George Soros’ Fund

1. Magellan Midstream Partners, L.P. (NYSE:MMP)

Number of Hedge Fund Holders: 12
Dividend Yield as of January 21: 8.64%
Soros Fund Management’s Stake Value: $3,724,000

Magellan Midstream Partners, L.P. (NYSE:MMP) is an American publicly traded partnership that deals in refined petroleum products and crude oil. In Q3 2021, Soros Fund Management did not change its position in the company and held shares worth over $3.7 million.

In Q3 2021, 12 hedge funds tracked by Insider Monkey held stakes in Magellan Midstream Partners, L.P. (NYSE:MMP), valued at over $92 million. In the previous quarter, 13 hedge funds held stakes in the company, worth over $89 million.

On October 20, Magellan Midstream Partners, L.P. (NYSE:MMP) announced a 1% increase in its quarterly dividend at $1.0375 per share. The company has maintained a 20-year streak of continuous dividend growth and has increased its dividend by 690% since its IPO in 2001. In January, Barclays set a $51 price target on Magellan Midstream Partners, L.P. (NYSE:MMP), with an Equal Weight rating on the shares.

You can also take a look at 10 Dividend Stocks That Have Doubled Their Payouts and 10 Dividend Stocks With the Potential to Grow

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