Energy Transfer Lp (+1, ET US, August 22nd)
Kelcy Warren (Executive Chair, co-founder in 1996) continues to add aggressively to his holdings. On August 21st he spent $39 million at $12.96 per share, inching his holdings higher to an estimated 296.8m shares (10% of company).
We have had this stock ranked +1 since April 2022 based on purchases from Warren as well as a few other executives and directors. Warren has now spent $116m so far in 2023, and while the stock has been flat for much of the year, it remains near a 3-year high.
We are renewing our +1 rank.
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