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.”
Follow Energy Transfer Lp (NYSE:ET)
Follow Energy Transfer Lp (NYSE:ET)
4. Graphic Packaging Holding Company (NYSE:GPK)
Number of Hedge Fund Holders: 38
Graphic Packaging Holding Company (NYSE:GPK) is an Atlanta, Georgia-based company that is a provider of sustainable, fiber-based consumer packaging solutions.
On October 26, Christopher Parkinson at Mizuho increased the target price for Graphic Packaging Holding Company (NYSE:GPK) from $28 to $29 and maintained a Buy rating on the stock. The analyst anticipates strong demand for Graphic Packaging Holding Company’s (NYSE:GPK) offerings even during an economic downturn. Experts believe that the management has performed well in ensuring strong top-line and bottom-line growth during the recent quarters. Revenue increased by 5% YoY during Q3 2022. Meanwhile, the adjusted EPS rose by 55% YoY due to a favorable impact on pricing and costing, along with a higher volume mix.
Here’s what L1 Capital said about Graphic Packaging Holding Company (NYSE:GPK) in its Q3 2021 investor letter:
“We reinvested the proceeds from the partial sale of Eagle Materials by increasing the Fund’s position in Graphic Packaging. We expect the company to deliver strong earnings and cashflow over coming years, and the company remains undervalued at its current share price.”
As of Q3 2022, Graphic Packaging Holding Company (NYSE:GPK) was held by 38 hedge funds.
Follow Graphic Packaging Holding Co (NYSE:GPK)
Follow Graphic Packaging Holding Co (NYSE:GPK)
3. IVERIC bio, Inc. (NASDAQ:ISEE)
Number of Hedge Fund Holders: 51
IVERIC bio, Inc. (NASDAQ:ISEE) is a Cranbury, New Jersey-based biotech company founded in 2007.
The company is working on developing therapeutics for patients suffering from retinal dystrophy and degeneration. Experts consider this as a complex disease segment in which IVERIC bio, Inc. (NASDAQ:ISEE) is trying to make headway through its Zimura label that stops the creation of new blood vessels in the retina and treats geographic atrophy (GA). This ailment is primarily associated with advanced age-related macular degeneration (AMD). The drug is administrated directly into the eye through an intravitreal injection monthly, and patients start to see an improvement in vision in four to six weeks. Experts think the pharmaceutical industry’s AMD business is a flourishing segment. Although the industry is still young, it is anticipated to grow at a strong CAGR of 8.2% from 2018 to 2024, benefiting a company like IVERIC bio, Inc. (NASDAQ:ISEE).
Follow Iveric Bio Inc. (NASDAQ:ISEE)
Follow Iveric Bio Inc. (NASDAQ:ISEE)
2. WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC)
Number of Hedge Fund Holders: 57
WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) is a Phoenix, Arizona-based provider of workspace and portable storage solutions with a headcount of 5,000 employees.
On December 2, Manav Patnaik at Barclays increased the price target on WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) stock from $50 to $55 and maintained an Overweight rating on the stock. The analyst is expecting a more clear picture of the outlook of the US business and information services industry to emerge in 2023. During Q3 2022, WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) saw its top line increase by 23.2% YoY to $604.17 million, outperforming the consensus forecast of $584.25 million. Meanwhile, the EPS of 59 cents outperformed analysts’ forecast of 37 cents for the period.
Chartwell Investment Partners shared its outlook on WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) in its Q3 2022 investor letter. Here’s what the firm said:
“The strategy’s top overall contributor during Q3 2022 was WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC). WillScot Mobile Mini produces and leases mobile storage systems and modular offices. The company is exposed to the non-residential construction cycle which is still very robust. Also, WillScot Mobile Mini enjoys significant pricing power, therefore leading to steadily expanding operating margins.”
Follow Willscot Mobile Mini Holdings Corp. (NASDAQ:WSC)
Follow Willscot Mobile Mini Holdings Corp. (NASDAQ:WSC)
1. T-Mobile US, Inc. (NASDAQ:TMUS)
Number of Hedge Fund Holders: 100
T-Mobile US, Inc. (NASDAQ:TMUS) is a Bellevue, Washington-based wireless network service operator that provides its services to 108.7 million customers across the US.
Ivan Feinseth at Tigress Financial increased the price target on T-Mobile US, Inc. (NASDAQ:TMUS) from $195 to $202 on November 15. The analyst maintained a Buy rating on T-Mobile US, Inc. (NASDAQ:TMUS) stock. Feinseth anticipates the entity to experience stellar consumer growth and top-line expansion due to the rollout of high-speed 5G network services. The analyst also added that the rollout of 5G services would aid the company in achieving the highest postpaid service revenue and cash flow growth in the industry. Some experts have termed T-Mobile US, Inc. (NASDAQ:TMUS) as the most attractive investment in the telecommunications sector.
As of Q3 2022, T-Mobile US, Inc. (NASDAQ:TMUS) was held by 100 hedge funds.
Follow T-Mobile Us Inc. (NYSE:TMUS)
Follow T-Mobile Us Inc. (NYSE:TMUS)
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a peek at the 12 Most Advanced Countries in Electronics and 10 Best Breakout Stocks To Buy.
