Yesterday, the Executive Chairman of the Board of Directors of Energy Transfer LP (NYSE:ET), Kelcy L. Warren, bought the company’s shares worth around $29.24 million. Going by the SEC filing, Mr. Warren bought about 2.43 million shares of the company at a weighted average price of $12.04 per share.
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According to TipRanks, which provides a comprehensive list of daily insider transactions, various corporate insiders have bought ET stock in the last three months.
Insider Confidence Signal is Positive on ET
TipRanks’ Insider Trading Activity tool shows that insiders are currently bullish on ET stock, as corporate insiders have bought ET stock worth $60.8 million in the last three months.
Interestingly, TipRanks also provides a list of hot stocks that boasts either a Very Positive or Positive insider confidence signal.
Is Energy Transfer a Buy, Sell or Hold?
Energy Transfer seems like a tempting option to park your money in. Analysts are optimistic about ET stock as it has a Strong Buy rating, based on four Buys.
Moreover, financial bloggers and hedge funds seem bullish about ET stock. Financial bloggers’ opinions are 93% Bullish on ET stock, above the sector average of 66%. Hedge funds have also purchased 2.2 million shares of Energy Transfer stock in the last quarter.
Finally, according to a TipRanks tool, ET stock carries a Perfect Smart Score of 10, which highlights its ability to outperform.
Key Takeaways for ET Investors
Energy Transfer is having a wild run on the bourses as ET stock is up 47.1% so far in 2022 amid high oil-and-gas prices. Given the favorable market dynamics, strong underlying fundamentals, and impressive inorganic growth initiatives, it seems like a wise idea to increase our holdings in ET stock. Increasing its investment appeal, Energy Transfer also provides a dividend yield of 6.36%, surpassing the sector average of 1.64%. Further, ET’s average stock price of $15.25, signals a 25.8% upside potential from current levels.
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