Top 5 Dividend Stock Picks of Billionaire George Soros’ Fund

3. Energy Transfer LP (NYSE:ET)

Number of Hedge Fund Holders: 29
Dividend Yield as of January 21: 6.65%
Soros Fund Management’s Stake Value: $4,577,000

Energy Transfer LP (NYSE:ET) is an American company that is engaged in natural gas and propane pipeline transport. According to Insider Monkey’s data, 29 hedge funds held stakes in the company in Q3, the same as in the previous quarter. These stakes hold a consolidated value of over $727.7 million.

Energy Transfer LP (NYSE:ET)’s quarterly dividend stands at $0.1635 per share. The company currently spends over $1.9 billion in annual dividends. In Q3 2021, Soros Fund Management held a stake worth over $4.5 million in Energy Transfer LP (NYSE:ET).

In January, Barclays’ analyst Theresa Chen presented a positive outlook on the energy sector in 2022. The analyst set a $13 price target on Energy Transfer LP (NYSE:ET), while maintaining an Overweight rating on the shares.

Miller Value Partners mentioned Energy Transfer LP (NYSE:ET) in its Q2 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.”