Maria Elvira Salazar is the Republican representative of the 27th congressional district of Florida. Last week she reported a buy transaction for Energy Transfer LP (ET:US) stock. She bought $165K - $400K worth of ET stock on 13th March 2023

This was a relatively large transaction for a stock that has been trading sideways for about a year now. But what makes this transaction interesting is its timing. ET announced its Q1 earnings on earnings on the 2nd of May. It not only raised its 2023 earnings guidance but also dropped the announcement of the acquisition of Lotus Midstream for $1.45 billion.

Lotus Midstream provides midstream services like terminalling, intra-basic transportation, wellhead gathering, and long-haul transportation services. It will have a positive impact on ET finances. It already has healthy cashflows to power its 9.72% dividend yield. The acquisition will add to these cash flows, making ET a safe dividend bet in the coming years.

The transaction will be carried out using $990 million in cash and about $44.5 million in freshly issued Energy Transfer common stock. The transaction is expected to close in Q2 2023.