Keep an eye on Energy Transfer (SYM: ET), which owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma.
For one, according to Insider Monkey, “Analyst Steven Fiorillo notes that Energy Transfer may still be undervalued, presenting a buying opportunity. He expects Energy Transfer L.P., which has been trading within a certain range, could rise above $16.50 and approach $20 by the end of 2024. Fiorillo also highlights that the growth in AI and the associated need for new data center infrastructure could indirectly benefit Energy Transfer L.P. (NYSE:ET), making it a valuable investment linked to the AI boom.”
Two, the stock carries a healthy dividend yield of 7.93%.
And three, insiders have been actively buying over the last few days. Co-CEO Thomas Long just bought 20,000 shares for $313,600. Executive Vice President Gregory McIlwain just bought 20,000 shares for $313,600. Director Kelcy Warren picked up three million shares for just over $47 million on August 13.
