HPE jumps 19% as Energy Transfer picks the Texas Stock Exchange
Hewlett Packard Enterprise rose 19.4% in the week ended Sept. 11, including 12.44% on Friday. Energy Transfer said it will move to the Texas Stock Exchange on Oct. 5, and Ryan Cohen bought 1 million GameStop shares.
Hewlett Packard Enterprise rose 19.4% in the week ended Sept. 11, from $52.00 to $62.09, and $6.87 of that came on Friday alone. It was the biggest weekly move among the Texas large caps we checked, and it came the same week Energy Transfer said it would move its listing to the Texas Stock Exchange.
GameStop chief executive Ryan Cohen also bought about $20.4 million of stock, two days after the company reported second quarter results.
HPE's Friday
Per daily closes from StockAnalysis, HPE (HPE) closed at $56.03 on Tuesday, $58.90 on Wednesday, $55.22 on Thursday and $62.09 on Friday. That last day was a 12.44% gain, a Lone Star Index calculation, like the weekly figure.
We didn't find an HPE announcement on Friday. The backdrop is the Sept. 2 quarterly report, when HPE raised its full year outlook and guided fourth quarter revenue to $13.9 billion to $14.8 billion, per its earnings release. The stock rose 5.04% the day after that report but ended that week down 0.59%, and then it ran this week.
HPE's latest quarterly report lists Spring as its business address.
Energy Transfer picks Texas
On Thursday, Sept. 10, Energy Transfer (ET) filed a current report saying it will move its common units and Series I preferred units from the New York Stock Exchange to TXSE. NYSE trading is set to end Oct. 2, and TXSE trading is set to start Oct. 5. The tickers stay ET and ETprI. That filing lists Dallas as the principal executive office.
KERA News reported on Sept. 11 it's the first primary listing TXSE has won from the NYSE. TXSE CEO James Lee called it a "watershed moment for capital markets." KERA put the combined value of Energy Transfer and its affiliates at nearly $100 billion. It also cited a Wall Street Journal report that Kelcy Warren owns a 30% stake in TXSE Group, the exchange's parent.
The units barely moved. They closed at $21.73 on Sept. 10 and $21.55 on Sept. 11, and they were up 0.23% on the week.
Our read
Energy Transfer's own explanation is one sentence. Its press release says the move lines up the partnership's Texas legacy with TXSE's technology platform and will help support its continued growth. There's no executive quote in it, no cost figure and no comparison with the NYSE.
What the release leaves out is the relationship. Kelcy Warren co founded Energy Transfer, per a 2020 company announcement, and he signed a July 17 registration filing as its executive chairman. The Wall Street Journal has reported he owns 30% of TXSE Group, as HPPR noted, and an exhibit TXSE filed with the SEC in July 2025 listed Kelcy Warren Partners, LP with 31.5% of TXSE Group's outstanding shares. So the first primary listing TXSE has pulled from the NYSE comes from a company whose executive chairman is tied to a big piece of the exchange. In our view that makes it a weak test of whether TXSE can win issuers with no stake in its success, and the release doesn't mention the tie.
The July charter change leaves a similar question. When Energy Transfer moved its legal home from Delaware to Texas on July 6, its filing said the general partner's board approved it relying in part on a conflicts committee's recommendation, and it didn't mention a unitholder vote. It said unitholders' rights and obligations stayed the same, including the provisions on voting, removing the general partner and fiduciary duties. This week's listing filing says the partnership approved the exchange move on Sept. 3 but doesn't say who signed off. We'd like to know whether that conflicts committee looked at the listing decision too, and so far nothing filed says.
Cohen's buy
GameStop (GME) CEO Ryan Cohen bought 1 million shares on Sept. 10 at a weighted average of $20.38, about $20.4 million, per his Form 4 filed the same day. He held 39,347,842 shares afterward, and the trade wasn't made under a preset plan.
It came two days after GameStop reported second quarter results. Net sales fell to $790.2 million from $972.2 million, but net income rose to $298.7 million and operating income hit $160.2 million, per the release. The stock rose 10.39% on the week, from $19.16 to $21.15. GameStop's quarterly report filed Sept. 9 lists Grapevine as its business address.
Cohen's was the largest open market buy by a company executive we found this week. Conifer Management, a New York fund that files as a 10% owner of Group 1 Automotive, reported more shares at a higher price. The other open market buys filed between Sept. 7 and Sept. 13:
| Company | Buyer | Role | Shares | Price | Filed |
|---|---|---|---|---|---|
| Group 1 Automotive (GPI) | Conifer Management | 10% owner | 224,280 | $278.18 to $305.74 | Sept. 8, Sept. 11 |
| Barnwell Industries (BRN) | Joshua Horowitz | Director | 10,478 | $0.996 | Sept. 10 |
| Barnwell Industries | Philip Patman Jr. | CFO, director | 6,956 | $1.00 | Sept. 10 |
| Cross Timbers Royalty Trust (CRT) | SoftVest, LP | 10% owner | 19,539 units | $10.67 to $11.29 | Sept. 8, Sept. 10 |
| NETSTREIT (NTST) | Daniel Donlan | CFO | 1,200 | $20.12 | Sept. 8 |
Prices are the weighted averages in each filing, and the filings are linked in the references. Conifer's two filings cover trades from Sept. 3 through Sept. 10, and the fund held 1,446,640 Group 1 shares afterward. All four companies list Texas business addresses in their latest quarterly reports. The full feed is on Insider Radar.
What to watch
- Sept. 17: HPE's record date for its $0.1425 quarterly dividend, payable on or about Oct. 16, per its earnings release.
- Oct. 2: Energy Transfer's last scheduled day of trading on the NYSE.
- Oct. 5: Energy Transfer's first scheduled day on TXSE, with the tickers staying ET and ETprI.
We'll track Energy Transfer's switch from the NYSE to TXSE on our Texas exchanges page.
Lone Star Index publishes research, not investment advice.