ET
Another insider check from the captain's chair
Energy Transfer's co-founder Kelcy Warren just bought around 1.0 million units at a weighted average price of $21.26 apiece, for a total tab of about $21.3 million. That’s not pocket change, even for a billionaire — it’s the kind of move that makes investors sit up a little straighter.
Why you should care
Insider buys can matter because they’re usually optional. Warren didn’t have to do this; he chose to. When a founder is willing to add that much exposure, the message is usually some version of: “I think the business is still undervalued,” or at least “I’m not worried enough to sit on my hands.”
- It’s a direct vote of confidence in ET’s setup.
- It may help support sentiment around the units, especially if investors were already watching insider activity.
- It doesn’t guarantee the stock rips higher tomorrow, but it can reinforce the bull case that management sees value where the market may not.
The investor read
The bigger the insider, the louder the signal tends to be — and Kelcy Warren is about as insider-y as it gets. For ET holders, this is the kind of headline that won’t change the fundamentals overnight, but it can still nudge the market’s mood in the right direction.
Big picture: when the founder buys this much of his own company, he’s basically telling the market, “I’m still in the game.”