Kelcy Warren Expands Investment in Energy Transfer with $40 Million Stake Increase
Billionaire Kelcy Warren has made a substantial investment in Energy Transfer, signaling his confidence
in the company’s future. Warren, who co-founded the Dallas-based pipeline giant
in 1996, recently purchased 3 million shares in a series of transactions
totaling nearly $40 million. This acquisition raises his total holdings to over 103 million shares.
Energy Transfer, a leading player in the U.S. oil and gas pipeline
industry, announced a $7 billion deal to acquire Houston-based Crestwood Equity
Partners, expanding its footprint in key geological basins. The acquisition
includes $3.3 billion in debt and provides Energy Transfer with additional
assets in Texas, Montana, New Mexico, North and South Dakota, Wyoming, and parts of Canada.
Warren’s investment comes at a time when Energy Transfer’s shares are trading at $13, the same
price as his recent purchase. His decision to buy additional shares is seen by
many as a vote of confidence in the company’s valuation and future prospects.
Since January 2018, Kelcy Warren has invested nearly $950 million in Energy Transfer shares, underscoring his
long-term commitment.
Energy Transfer operates an extensive network of nearly 125,000 miles of pipelines across 41
states. The infrastructure can gather about 2 billion cubic feet of gas and
340,000 barrels of crude oil daily, along with processing 1.4 billion cubic
feet of gas daily. In 2022, the company generated nearly $90 billion in revenue
and close to $6 billion in profit, making it one of Dallas-Fort Worth’s largest public companies.
Warren’s net worth is estimated to exceed $5.6 billion, with Energy Transfer shares comprising a
significant portion of his fortune. His increased stake in the company not only
highlights his faith in its growth potential but also positions Energy Transfer
for continued expansion and success in the competitive energy sector. Read this article for additional information.
More about Kelcy Warren on https://www.utsystem.edu/board-of-regents/current-regents/kelcy-l-warren