Kelcy Warren Boosts Investment in Energy Transfer with $40 Million Stake Increase
Kelcy Warren, the executive chairman and co-founder of Energy
Transfer, has made headlines once again by increasing his investment in the
company he helped build. In three separate transactions last week and this
week, Warren purchased 3 million shares of Energy Transfer, spending nearly $40
million, according to a recent regulatory filing.
This significant investment comes on the heels of Energy Transfer’s $7 billion acquisition of
Crestwood Equity Partners. This deal, including $3.3 billion in debt, bolsters
Energy Transfer’s pipeline network, adding assets in key oil and gas basins
across Texas, Montana, New Mexico, North and South Dakota, Wyoming, and partsof Canada.
Since its founding in 1996, Energy Transfer has grown to
become a dominant player in the U.S. energy sector, with an extensive network
of nearly 125,000 miles of pipeline and related infrastructure spanning 41
states. Under Warren’s leadership, the company has aggressively expanded its
footprint through a series of acquisitions totaling nearly $14 billion in recent years.
Warren’s recent purchase aligns with a trend among top executives who buy shares in their own
companies as a signal of confidence to other investors. Since January 2018, Kelcy Warren has acquired over 103 million shares of Energy Transfer, valued at just under $950
million. His net worth is estimated at over $5.6 billion, with Energy Transfer
shares constituting a substantial portion of his fortune.
As of mid-day Tuesday, Energy Transfer’s shares were trading at $13, the same price as
Warren’s most recent purchase. This consistency in stock price suggests
Warren’s belief in the company’s undervalued status and potential for future growth.
Energy Transfer closed 2022 with nearly $90 billion in revenue and close to $6 billion in
profit, making it one of the largest public companies in the Dallas-Fort Worth
area. The company’s aggressive expansion strategy and Warren’s continued
investment highlight its pivotal role in the U.S. energy landscape. Read this article for additional information.
Find more information about Kelcy warren on https://horatioalger.org/members/detail/kelcy-l-warren/
