Energy Transfer director buys 1M units at $21
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Energy Transfer LP (ET) director Kelcy L. Warren, through Kelcy Warren Partners, LP, reported open‑market purchases of 1,000,000 Common Units, including 352,032 units on August 18, 2026 at a weighted average price of $21.27 and 647,968 units on August 19, 2026 at a weighted average price of $21.26, all held indirectly. Warren also reports substantial existing direct and indirect Common Unit holdings through several affiliated entities, with beneficial ownership disclaimed except to the extent of his pecuniary interest.
Insights
Analyzing...
Insider Trade Summary
Net Buyer: 1,000,000 shares
Net Buy
8 txns
Insider
WARREN KELCY L
Role
Director
Bought
1,000,000 shs ($21.26M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Units F3, F2 | 647,968 | $21.26 | $13.78M |
| Purchase | Common Units F1, F2 | 352,032 | $21.27 | $7.49M |
| holding | Common Units | -- | -- | -- |
| holding | Common Units F4 | -- | -- | -- |
| holding | Common Units F8 | -- | -- | -- |
| holding | Common Units F5 | -- | -- | -- |
| holding | Common Units F6 | -- | -- | -- |
| holding | Common Units F7 | -- | -- | -- |
Holdings After Transaction:
Common Units — 147,901,879 shares (Indirect, By: Kelcy Warren Partners, LP);
Common Units — 14,978,717 shares (Direct);
Common Units — 10,224,429 shares (Indirect, By: Kelcy Warren Partners II, LP);
Common Units — 133,136,757 shares (Indirect, By: Kelcy Warren Partners III, LLC);
Common Units — 1,233,857 shares (Indirect, By: Warren Capital Corp.);
Common Units — 328,383 shares (Indirect, By: ET Company, Ltd.);
Common Units — 601,076 shares (Indirect, By: LE GP, LLC)
Footnotes (8)
- F1. The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions at prices ranging from $21.175 to $21.30, inclusive. The reporting person undertakes to provide to ET, any security holder of ET, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of units purchased at each separate price within this range.
- F2. The reported units are owned directly by Kelcy Warren Partners, LP, a limited partnership owned by Mr. Warren. Mr. Warren disclaims beneficial ownership of the reported units except to the extent of his pecuniary interest therein.
- F3. The price reported in Column 4 is a weighted average price. These common units were purchased in multiple transactions at prices ranging from $21.185 to $21.30, inclusive. The reporting person undertakes to provide to ET, any security holder of ET, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of units purchased at each separate price within this range.
- F4. The reported units are owned directly by Kelcy Warren Partners II, LP, a limited partnership owned by Mr. Warren. Mr. Warren disclaims beneficial ownership of the reported units except to the extent of his pecuniary interest therein.
- F5. The reported units are owned directly by Warren Capital Corp., a corporation owned by Mr. Warren. Mr. Warren disclaims beneficial ownership of the reported units except to the extent of his pecuniary interest therein.
- F6. The reported units are owned directly by ET Company Ltd. The reported units represent the estimated pro rata interest of Mr. Warren in ET Company Ltd., including through his interest therein held through Three Dawaco, Inc. Mr. Warren disclaims beneficial ownership of the reported units except to the extent of his pecuniary interest therein.
- F7. The reported units are owned directly by LE GP, LLC. The reported units represent his estimated pro rata interest in LE GP, LLC. Mr. Warren disclaims beneficial ownership of the reported units except to the extent of his pecuniary interest therein.
- F8. The reported units are owned directly by Kelcy Warren Partners III, LLC (formerly known as Seven Bridges Holdings LLC) a limited liability company owned by Mr. Warren.
Key Figures
Units purchased 2026-08-18: 352,032 Common Units
Price per unit 2026-08-18: $21.27 per unit
Units purchased 2026-08-19: 647,968 Common Units
+4 more
7 metrics
Units purchased 2026-08-18
352,032 Common Units
Indirect open‑market purchase by Kelcy Warren Partners, LP at weighted average price
Price per unit 2026-08-18
$21.27 per unit
Weighted average purchase price; trades ranged from $21.175 to $21.30
Units purchased 2026-08-19
647,968 Common Units
Indirect open‑market purchase by Kelcy Warren Partners, LP at weighted average price
Price per unit 2026-08-19
$21.26 per unit
Weighted average purchase price; trades ranged from $21.185 to $21.30
Direct Common Unit holdings
14,978,717 Common Units
Common Units reported as held directly by Mr. Warren as of August 18, 2026
Indirect holdings via Kelcy Warren Partners II, LP
10,224,429 Common Units
Reported as owned directly by Kelcy Warren Partners II, LP, a partnership owned by Mr. Warren
Indirect holdings via Kelcy Warren Partners III, LLC
133,136,757 Common Units
Reported as owned directly by Kelcy Warren Partners III, LLC (formerly Seven Bridges Holdings LLC)
Key Terms
weighted average price, beneficial ownership, pecuniary interest, pro rata interest
4 terms
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficial ownership financial
"Mr. Warren disclaims beneficial ownership of the reported units except to the extent"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of his pecuniary interest therein."
pro rata interest financial
"represent the estimated pro rata interest of Mr. Warren in ET Company Ltd."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did ET director Kelcy Warren report in this Form 4 for Energy Transfer LP (ET)?
Kelcy L. Warren reported open‑market purchases of Energy Transfer LP Common Units through Kelcy Warren Partners, LP: 352,032 units on August 18, 2026 and 647,968 units on August 19, 2026, for a combined 1,000,000 units acquired indirectly.
At what prices were the Energy Transfer LP (ET) units purchased in this Form 4?
The reported prices are $21.27 per unit for the 352,032 units on August 18, 2026 and $21.26 per unit for the 647,968 units on August 19, 2026. Each price is a weighted average of multiple trades within disclosed intraday ranges.
Were Kelcy Warren’s Energy Transfer LP (ET) purchases made under a Rule 10b5-1 trading plan?
No. The Form 4 indicates the Rule 10b5‑1 checkbox is not affirmed for these transactions, meaning the reported open‑market purchases were not disclosed as being made pursuant to a Rule 10b5‑1 trading plan.
How are the purchased Energy Transfer LP (ET) units held according to the Form 4?
All 1,000,000 purchased units are reported as held indirectly by Kelcy Warren Partners, LP, a limited partnership owned by Mr. Warren. He disclaims beneficial ownership of these units except to the extent of his pecuniary interest in the partnership.
What direct and indirect Energy Transfer LP (ET) holdings does Kelcy Warren report after these transactions?
Holdings reported include 14,978,717 Common Units held directly, and indirect positions such as 10,224,429 units via Kelcy Warren Partners II, LP, 133,136,757 units via Kelcy Warren Partners III, LLC, 1,233,857 units via Warren Capital Corp., 328,383 units via ET Company Ltd., and 601,076 units via LE GP, LLC.
What do the weighted average price disclosures mean in the ET Form 4 footnotes?
For each purchase date, the per‑unit price reported is a weighted average of multiple trades executed between specified price ranges (for example, $21.175–$21.30). The reporting person undertakes to provide full trade‑level price information upon request to ET, its security holders, or SEC staff.
AI-generated analysis. How Rhea-AI works. Not financial advice.
