Insider Activity Report: Energy Transfer (ET)

Kelcy Warren, Chairman at Energy Transfer (ET), recently bought 3,000,000 shares. The buy increased his holdings by about 1 percent, and came to a total cost of $38.89 million.

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  • The Chairman was also a buyer for several days back in May, and before that in February. A company EVP also picked up 10,000 shares at the end of May. There have been no insider sales at the company over the past two years.

    Overall, company insiders own 17.2 percent of shares.

    The natural gas pipeline company is up about 6 percent over the past year, in-line with the S&P 500. Shares are trading for about 10 times earnings.

    Natural gas tends to move in a seasonal manner, dipping over the summer before rising into the winter thanks to rising demand for heating. That could lead to improved operational performance for shares in the months ahead.

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  • Action to take: Investors may like shares for the stock’s large dividend of 9.5 percent. As an LP, the high payout is required, and is likely to continue, although it will likely grow slowly.

    For traders, shares have been trending steadily higher, but at a low pace. The January 2024 $13 calls are an at-the-money trade. Last going for about $0.67, they could likely see mid-double-digit gains on a further slow move higher for shares.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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