Republican Mark Green Is Selling More of This Energy Stock

Congressman Mark Green, the U.S. representative for Tennessee's 7th congressional district, disclosed this week that he sold more shares of his favorite company for trading.

Republican Green disclosed on Tuesday that he sold shares of Energy Transfer LP (ET: US) earlier this month when ET closed at  $11.47. The size of the trade was $100,000 - $250,000 and it marks the 17th trade that Representative Green made in ET stock this year.

The Congressman was mostly accumulating shares of Energy Transfer by April this year when he started selling and decreasing the exposure to this stock. Since mid-April, the Congressman reported 10 sell trades, including the sale of $250,000 - $500,000 worth of ET shares in April.

Energy Transfer shares are up over 40% year-to-end (YTD) as the Energy sector continues to outperform amid the soaring demand for oil and gas. Shares are currently trading near 32-month highs and Congressman Green is making sure to benefit from such a price increase.

In early August, Energy Transfer reported strong second-quarter results, coupled with a 15% hike in the quarterly dividend, from $0.20 to $0.23, implying an 8% yield.

Energy Transfer, the Dallas-based company engaged in natural gas and propane pipeline transport, is Green’s most popular stock for trading and the key reason why the Energy sector is his most traded sector, followed by Utilities and Industrials. The second most-often traded stock by Green is USA Compression Partners (USAC: US), a provider of natural gas compression services.

Mr. Green is a U.S. Army veteran and serves on the House committee for Armed Services and Foreign Affairs.