Around $39M Bet On Energy Transfer? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insider trades were noted in Energy Transfer LP (ET), Orion S.A. (OEC), and Westlake Chemical Partners LP (WLKP). ET's Executive Chairman acquired 3 million shares for around $38.89 million, following a merger agreement with Crestwood Equity Partners. OEC's CEO bought 15,000 shares for around $323,850 after reporting upbeat Q2 earnings. WLKP's SVP bought 5,000 shares for around $110,410 after posting downbeat quarterly earnings.
August 22, 2023 | 11:24 am
News sentiment analysis
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NEUTRAL IMPACT
WLKP's SVP bought 5,000 shares, indicating confidence in the company despite posting downbeat quarterly earnings.
The SVP's purchase of shares despite the company's downbeat earnings report could indicate an expectation of a turnaround or that the stock is undervalued.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
ET's Executive Chairman bought 3 million shares, indicating confidence in the company following a merger agreement with Crestwood Equity Partners.
Insider buying, especially at this scale, is often a positive sign as it shows the confidence of the insiders in the company's prospects. The recent merger agreement could also be a potential growth catalyst.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
OEC's CEO bought 15,000 shares, indicating confidence in the company after reporting upbeat Q2 earnings.
The CEO's purchase of shares after the company reported positive Q2 earnings indicates a positive outlook for the company's future performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100