5 Dividend Stocks to Buy Now According to Billionaire Leon Cooperman

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Below we present the list of 5 dividend stocks to buy now according to billionaire Leon Cooperman. For our methodology and a more comprehensive list, please see 10 Dividend Stocks to Buy Now According to Billionaire Leon Cooperman.

5. Energy Transfer LP (NYSE:ET)

Dividend Yield as of March 24: 7.07%

Value of Omega Advisors‘ 13F Position: $57.61 million

There was a nearly 25% spike in hedge fund ownership of Energy Transfer LP (NYSE:ET) during Q4 as money managers are increasingly taking note of the natural gas midstream, transportation, and storage company. Cooperman has owned a stake in ET since the middle of 2017.

Energy Transfer LP (NYSE:ET) was forced to slash its dividend by 50% in 2020 in an effort to tackle its debt. The company’s been successful on that front, cutting its long-term debt by $6.3 billion in 2021. That success allowed the company to boost its dividend by 15% heading into 2022, with a quarterly payout of $0.175 per share.

Energy Transfer LP (NYSE:ET) is still projecting to take in billions of dollars in excess free cash flow in 2022 after pulling in $13 billion in adjusted EBITDA last year.

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