Kelcy Warren, the esteemed co-founder and executive chairman of Energy
Transfer, has made a notable move in the financial landscape, further
increasing his stake in the Dallas-based pipeline titan. This week, Warren
invested nearly $40 million to acquire an additional 3 million shares of Energy
Transfer, as detailed in a recent regulatory filing.
This acquisition follows a significant corporate expansion, with Energy Transfer announcing its
$7.1 billion acquisition of Houston’s Crestwood Equity Partners. This strategic
move expands the company’s already formidable infrastructure into key oil and gas
regions, including the Williston, Delaware, and Powder River basins. Energy
Transfer is now poised to handle an impressive capacity: approximately 2
billion cubic feet of gas and 340,000 barrels of crude oil daily.
Warren’s stock purchase comes at a time when Energy Transfer shares have been trading at around $13, the same price
at which he bought his recent batch of shares. Such investments are often
interpreted as a signal of confidence from corporate leaders, suggesting that
Warren perceives the company’s stock as undervalued or anticipates significant growth.
Since 2018, Kelcy Warren has significantly increased his shareholding in Energy Transfer,
accumulating over 103 million shares valued at close to $950 million. His net
worth, largely tied to this investment, is estimated at over $5.6 billion.
Energy Transfer remains a formidable entity in the U.S. energy sector, operating nearly 125,000
miles of pipeline across 41 states. The company’s aggressive acquisition
strategy has seen it close deals worth nearly $14 billion in recent years,
reinforcing its position as a key player in the distribution of oil and gas.
With his latest investment, Kelcy Warren reaffirms his commitment to Energy Transfer’s
continued growth and success in the ever-evolving energy industry landscape.
Refer to this article for related information.
Find more information about Kelcy Warren on https://texasbusiness.org/wp-content/uploads/2021/03/Kelcy-Warren-Bio.pdf