5 Best MLP Dividend Stocks To Buy

1. Energy Transfer LP (NYSE:ET)

Number of Hedge Fund Holders: 36

Dividend Yield as of March 15: 7.18%

Energy Transfer LP (NYSE:ET) was founded in 1996 and is headquartered in Dallas, Texas, operating as a master limited partnership engaged in natural gas and propane pipeline transport. Energy Transfer LP (NYSE:ET)’s dividend yield on March 15 came in at 7.18%. 

On January 25, Energy Transfer LP (NYSE:ET) declared a $0.175 per share quarterly dividend, a 14.8% increase from its prior dividend of $0.1525. The dividend was paid on February 18, for shareholders of record on February 8. 

Mizuho analyst Gabriel Moreen raised the price target on Energy Transfer LP (NYSE:ET) on February 18 to $14 from $13 and kept a Buy rating on the shares. The analyst noted that Energy Transfer LP (NYSE:ET) announced strong commercial updates that display growth potential, which is even more significant than its “strong” 2022 EBITDA guidance.

According to the Q4 database of Insider Monkey, 36 hedge funds were bullish on Energy Transfer LP (NYSE:ET), up from 29 funds in the earlier quarter. Abrams Capital Management is the biggest shareholder of the company, with more than 22 million shares worth $182 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.”

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