This Congresswoman Is Selling Energy Stocks, But Purchased These 2 Dividend Paying Retailers

Congresswoman Lois Frankel (D-FL) made more than 430 trades in the past three years, which are typically filed in the range of $1,000 to $15,000 in shares, according to Capitol Trades. Congresswoman Frankel typically files her trades as undisclosed and has sold more stocks than she purchased over the course of the third quarter of 2022.

Frankel sold in the range of $1,000 to $15,000 in shares of energy companies Diamondback Energy FANG and SolarEdge Technologies SEDG in the past two months. Besides the two dividend stocks discussed below, Frankel also purchased shares of Boston Scientific BSX and Halliburton HAL in September and October, respectively.

Go To: An Energy Caucus Lawmaker Is Buying Up Energy Stocks With Big Yields: Here Are Three You Should Know About
Target Corporation TGT is offering a dividend yield of 2.58% or $4.23 per share annually, conducting quarterly payments, with a stellar track record of increasing its dividends for 53 consecutive years. Target currently has 1,938 stores and 51 supply chain facilities in the U.S., and is the leading U.S. general merchandise retailer offering a variety of products across several categories.

As beauty is one of its fastest-growing segments, Target announced a partnership with Ulta Beauty ULTA in November 2020 at more than 100 Target stores nationwide and online in 2021.

An undisclosed filing shows that on Sept. 7 Frankel purchased between $1,000 to $15,000 in shares of Target for a price of $170.79 per share. Then on Sept. 28, the congresswoman purchased between $1,000 to $15,000 in shares of Target for a price of $155.87 per share, according to Capitol Trades.

Lowe’s Companies Inc. LOW is offering a dividend yield of 2.11% or $4.20 per share annually, utilizing quarterly payments, with a dividend king-like track record of increasing its dividends for 59 consecutive years. Lowe’s is the second-largest home improvement retailer in the world, operating roughly 2,200 home improvement and hardware stores and servicing around 230 dealer-owned stores throughout the United States and Canada.

Lowe’s targets the “do it yourself” trend, from which it generates around 75% of its sales, serving roughly 19 million customer transactions per week in the U.S. and Canada.

On Sept. 17, Frankel purchased between $1,000 to $15,000 in shares of Lowe’s for a price of $201.3 per share, filed as undisclosed, as reported by Capitol Trades.

Also Read: Exxon Doesn’t Care About Biden, Oil Giant Rests At All Time Highs Following Earnings

Congresswoman Frankel has been the U.S. Representative for Florida’s 21st congressional district since 2017 and represented Florida’s 22nd congressional district from 2013 to 2017. Among the numerous committees Frankel sits on is the Energy and Water Development, and Related Agencies Subcommittee. This is an interesting fact as Frankel is trading energy stocks as they are reporting some of their best profits in years.

As of Sept. 29, 72 Congress members violated the federal STOCK Act, which was formed to prevent insider trading. But lawmakers like Senators Elizabeth Warren and Steve Daines want to go a step further and ban members of Congress and their spouses from owning or trading individual stocks.

Photo: Courtesy of commons.wikimedia.org

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