5 Best Oil Stocks to Buy Amid Post-COVID Demand Boom and Price Volatility

3. Energy Transfer LP (NYSE: ET-PD)

Number of Hedge Fund Holders: 25

Energy Transfer LP (NYSE: ET-PD) is a company headquartered in Texas that provides energy-related services. It is placed third on our list of 10 best oil stocks to buy amid post-COVID demand boom and price volatility. The stock has returned 62% to investors in the past twelve months. 

On May 12, Energy Transfer LP (NYSE: ET-PD) founder Kelcy Warren said that the firm was considering an investment in the chemicals and plastic business in order to diversify. The comments were made at a conference in North Dakota. 

Out of the hedge funds being tracked by Insider Monkey, Washington-based firm Appaloosa Management LP is a leading shareholder in Energy Transfer LP (NYSE: ET-PD) with 22.8 million shares worth more than $175 million. 

In its Q1 2021 investor letter, Miller/Howard Investments highlighted a few stocks and Energy Transfer LP (NYSE: ET-PD) was one of them. Here is what the fund said:

“Another upweight was Energy Transfer (ET), which was selling at a discount on EV/ EBITDA compared with the portfolio and had an attractive +20% FCF yield. Further, ET’s ample FCF should exceed the current distribution even if the Dakota Access Pipeline were to be shut down.”