Top 5 High Dividend Stocks To Buy According To Hedge Funds

3. Plains All American Pipeline, L.P (NASDAQ:PAA)

Number of Hedge Fund Holders: 7
Dividend Yield as of October 13: 6.72%

Plains All American Pipeline, L.P. (NASDAQ:PAA) is an oil and gas company headquartered in Houston, Texas. Coming in at third on the list of the top 12 high dividend stocks to buy according to hedge funds, the company provides transportation and storage of crude oil and liquified petroleum gas with operations in US and Canada.

The company reported revenues of $9.93 billion in its earnings report for Q2 2021, which beat estimates by $3.20 billion. The EPS was reported to be $0.23, in-line with the estimates for the quarter.

Boston-based Arrowstreet Capital is one of the biggest stakeholders of Plains All American Pipeline, L.P (NASDAQ:PAA) as of the end of the second quarter, according to the data tracked by Insider Monkey. Overall, 7 funds were bullish on the company by the end of the June quarter.

Morgan Stanley analyst Robert Kad remains bullish on Plains All American Pipeline, L.P (NASDAQ:PAA), keeping an Overweight rating on the company alongside a $13 price target, implying a 34% return for the year.