5 Best 52-Week High Stocks To Buy Now

In this article, we will take a look at the 5 best 52-week high stocks to buy now. If you want to see more stocks in this selection, go to the 12 Best 52-Week High Stocks To Buy Now.

5. Energy Transfer LP (NYSE:ET)

Number of Hedge Fund Holders: 33

Energy Transfer LP (NYSE:ET) is a Dallas, Texas-based diversified midstream energy company that is involved in the transportation of crude oil and natural gas.

On December 8, Spiro Dounis at Citi initiated coverage on Energy Transfer LP (NYSE:ET) stock with a target price of $16 and a Buy rating. The analyst initiated coverage on 23 midstream companies and believes that the industry has a positive cash flow outlook. However, Dounis added that investors need to be selective in making the right investment in the industry. The analyst believes that Energy Transfer LP (NYSE:ET) stock offers an attractive dividend yield along with a stable growth history. The one-year forward dividend yield for Energy Transfer LP (NYSE:ET) stands at 9.08% as of December 27. The company has also lowered its capital expenditure and debt to operate efficiently in an uncertain macroeconomic environment.

Energy Transfer LP (NYSE:ET) was discussed in the Q2 2021 investor letter of Miller Value Partners. Here’s what the firm said:

“Energy Transfer LP (ET)rose over the period along with the price of oil climbing 40.59% over the period. The company received positive news that the Dakota Access Pipeline project would not be shut down while the Environmental Impact Statement by the US Army Core of Engineers is drawn up. Energy Transfer reported strong 1Q results with revenue of $17B surpassing expectations for $11.8B with adjusted earnings before income, taxes, depreciation and amortization (EBITDA) hitting $5.04B ahead of consensus of $2.77B. The company raised full year adjusted EBITDA guidance to $12.9-13.3B from $10.6-11.0B previously, with the increase largely related to the benefits realized from Winter Storm Uri. The company paid down $3.7B in debt during the quarter, using strong cash f low to reduce leverage. The company also announced the issuance of $900M in 6.5% Series H perpetual preferreds with the company using the proceeds to repay debt and for general purposes.”