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3. Energy Transfer LP (NYSE:ET)

Number of Hedge Fund Holders: 33

Energy Transfer LP (NYSE:ET) is a Dallas, Texas-based midstream energy company involved in transporting and storing oil and natural gas in 41 states across the US and Canada.

The company is a master limited partnership (MLP) and is not required to pay corporate taxes. However, this makes it compulsory for the company to distribute 90% of its net income to shareholders. As a result, Energy Transfer LP (NYSE:ET) offers an attractive forward dividend yield of 8.6% as of November 21. The company raised its quarterly dividend to 26.5 cents on October 25.

Robert Kad at Morgan Stanley increased the price target on Energy Transfer LP (NYSE:ET) from $15 to $17 and maintained an Overweight rating on the stock on October 19. The analyst believes that midstream players could provide some attraction to investors due to acceleration in share repurchase activity.

Key Colony Management raised its stake in Energy Transfer LP (NYSE:ET) by 17% during Q3 2022.