5 Best Affordable Stocks Under $30

4. Energy Transfer LP (NYSE:ET)

Price as of December 01: $12.44

Forward P/E ratio as of December 01: 6.98

Number of Hedge Fund Holders: 33

Energy Transfer LP (NYSE:ET) company provides natural gas pipeline transmission and transportation services. The company sells natural gas-independent power plants to electric utilities, local distribution and other marketing organizations, and industrial end-users. Energy Transfer LP (NYSE:ET) has approximately 12000 employees.

On November 01, 2022, Energy Transfer LP (NYSE:ET) reported results for Q3 2022, recording revenue of $22.9 billion for the quarter. The company’s Normalized EPS of $0.35 beat the market estimate by $0.09.

According to Insider Monkey’s database, 33 hedge funds had stakes in Energy Transfer LP (NYSE:ET) at the end of the September quarter. Abrams Capital Management remained the leading stakeholder of the company at the end of the third quarter.

Miller Value Partners, an investment firm, talked about Energy Transfer L.P. (NYSE:ET) in its Q2 2021 investor letter. Here is what the fund 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 Corps 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 flow 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.