A landmark defence pact between North Korea and Russia, signed by its leaders in June, has gone into effect after the two sides exchanged ratification documents, North Korea's official KCNA news agency said Thursday. The formalization of the treaty comes as the United States and South Korea have accused the nuclear-armed North of sending more than 10,000 soldiers to help Russia fight Ukraine. Experts say North Korean leader Kim Jong Un is keen to acquire advanced technology from Moscow and battle experience for his troops in return. Kim and Russian President Vladimir Putin signed the strategic partnership deal during the Kremlin chief's visit to Pyongyang. It obligates both states to provide military assistance "without delay" in the case of an attack on the other, and to jointly oppose Western sanctions. It came into effect from Wednesday, when the ratification documents were exchanged in Moscow by the countries' vice foreign ministers Kim Jong Gyu and Andrei Rudenko, KCNA reported. Lawmakers in Moscow last month voted unanimously for the deal and it was later signed by Putin. Pyongyang said it was ratified by a decree from Kim. The treaty will serve "as a strong driving force accelerating the establishment of an independent and just multi-polarized world order without domination, subjugation and hegemony," KCNA said. Analysts have suggested Pyongyang could be using Ukraine as a means of realigning its foreign policy. By sending soldiers, North Korea is positioning itself within the Russian war economy as a supplier of weapons, military support and labour — potentially even bypassing traditional ally, neighbour and main trading partner China, they say. North Korea and Russia have strengthened their military ties since Moscow's invasion of Ukraine in February 2022. Both countries are under rafts of UN sanctions -- the former for its nuclear weapons programme and the latter for the Ukraine conflict. Kim said last week during a visit to Pyongyang by Russian Defence Minister Andrei Belousov that his government, army and people would "invariably support the policy of the Russian Federation to defend its sovereignty and territorial integrity". Putin hailed the deal in June as a "breakthrough document". bur-sst/bjt
Energy Transfer LP ( NYSE:ET – Get Free Report )’s stock price fell 1.4% on Thursday . The stock traded as low as $19.28 and last traded at $19.33. 1,928,797 shares changed hands during trading, a decline of 86% from the average session volume of 13,678,332 shares. The stock had previously closed at $19.60. Analyst Upgrades and Downgrades ET has been the topic of several analyst reports. UBS Group increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Barclays raised their target price on Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $20.55. Check Out Our Latest Report on ET Energy Transfer Price Performance Energy Transfer ( NYSE:ET – Get Free Report ) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. As a group, research analysts anticipate that Energy Transfer LP will post 1.32 EPS for the current fiscal year. Energy Transfer Cuts Dividend The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%. Institutional Trading of Energy Transfer A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Princeton Global Asset Management LLC grew its holdings in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. boosted its position in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the last quarter. HWG Holdings LP bought a new position in Energy Transfer in the second quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC increased its position in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares during the last quarter. Finally, Continuum Advisory LLC raised its stake in shares of Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds. About Energy Transfer ( Get Free Report ) Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. Featured Articles Receive News & Ratings for Energy Transfer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer and related companies with MarketBeat.com's FREE daily email newsletter .Pakistan launching national face biometrics authentication service
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