4. Alerian MLP ETF (NYSE:AMLP)
YTD Share Price Gain as of December 12: 11.64%
Alerian MLP ETF (NYSE:AMLP) seeks investment results that correspond generally to the price and yield performance of its underlying benchmark, the Alerian MLP Infrastructure Index. The underlying index provides a capped, float-adjusted, capitalization-weighted composite of energy infrastructure Master Limited Partnerships (MLPs) that generate most of their cash flow from midstream activities. The fund was established in 2010 and the net assets as of December 9 came in at nearly $6.2 billion. The total expense ratio stood at 0.87%. Alerian MLP ETF (NYSE:AMLP)’s dividend yield on December 12 was 8.13%.
Energy Transfer LP (NYSE:ET), a Texas-based energy infrastructure company that provides natural gas transportation pipelines and natural gas storage facilities, features as the largest holding of Alerian MLP ETF (NYSE:AMLP). On October 25, Energy Transfer LP (NYSE:ET) declared a $0.265 per share quarterly dividend, a 15.2% increase from its prior dividend of $0.230. The dividend was paid to shareholders on November 21. As of December 12, Energy Transfer LP (NYSE:ET)’s dividend yield came in at 9.09%, whereas the average yield of the energy sector is 4.24%.
According to Insider Monkey’s third quarter database, Energy Transfer LP (NYSE:ET) was part of 33 hedge fund portfolios, compared to 36 in the prior quarter. David Abrams’ Abrams Capital Management held the largest position in the company, with 22 million shares worth $242.8 million.
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.”
