Kelcy Warren Invests $40 Million in Energy Transfer Amid Major Expansion
In a significant financial move, Kelcy Warren, the CEO of Energy Transfer, has purchased $40 million worth of shares in
the company. This acquisition comes on the heels of a recent $7 billion deal
aimed at expanding Energy Transfer’s oil and gas pipeline network.
Kelcy Warren acquired 3 million shares through three separate
transactions, signaling his confidence in the company’s future prospects. Since
2018, Warren has accumulated over 103 million shares in Energy Transfer,
amounting to nearly $950 million. As a co-founder of the Dallas-based pipeline
giant, Warren’s investments showcase his long-term commitment to the firm he helped establish in 1996.
Energy Transfer shares were trading at $13 each at the time of Warren’s latest purchase,
reflecting the same price he paid for his recent acquisition. This activity
often indicates that top executives, like Kelcy Warren, believe the stock price
is currently undervalued.
The recent $7.1 billion acquisition of Houston-based Crestwood Equity Partners will significantly enhance Energy Transfer’s
capabilities. This deal will add crucial assets in the Williston and Delaware
oil and gas basins, and pave the way for entry into the Powder River basin. The
expanded infrastructure will manage about 2 billion cubic feet of gas and 340,000 barrels of crude oil daily.
Energy Transfer owns and operates nearly 125,000 miles of pipeline and related infrastructure
across 41 states, making it one of the leading companies in the industry. The
firm concluded 2022 with close to $90 billion in revenue and nearly $6 billion in profit.
Kelcy Warren’s increased stake not only underscores his confidence in Energy Transfer but also
highlights the company’s aggressive growth strategy. As the firm continues to
expand its footprint across the United States, Warren’s investments appear to
align with the company’s long-term objectives. Refer to this article for related information.
More about Kelcy Warren on https://www.dmagazine.com/publications/d-ceo/2023/november/how-kelcy-warrens-pipeline-dream-powered-a-nation/