5 Best Pipeline and MLP Stocks To Buy

4. Energy Transfer LP (NYSE:ET)

Number of Hedge Fund Holders: 29 

Energy Transfer LP (NYSE:ET) is a publicly-traded MLP, engaged in natural gas and propane pipeline transport. It is one of the largest and diversified midstream service providers in the U.S.

In September, Citigroup raised its price target on Energy Transfer LP (NYSE:ET) to $15, while keeping a ‘Buy’ rating on the shares. In the same month, Tudor Pickering upgraded the stock to ‘Buy’ from ‘Hold’, with a $14 price target.

As of Q2 2021, 29 hedge funds tracked by Insider Monkey have stakes in Energy Transfer LP (NYSE:ET), compared with 25 in the previous quarter. These stakes are valued at $835.2 million. 

Miller Value Partners mentioned Energy Transfer LP (NYSE:ET) in its second-quarter 2021 investor letter. Here is what the firm has to say: 

“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.”