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Richard Kinder has been enthusiastic about the energy pipeline company he co-founded and is the executive chairman, judging by his share purchases this year.
Kinder has paid $ 128.5 million so far this year to
Kinder Morgan
shares (ticker: KMI) on the open market. His last purchases were on August 23 and 26, when he paid a total of $ 13.9 million for 700,000 Kinder Morgan shares, for an average price of $ 19.87 each. Kinder now owns 241.9 million shares of Kinder Morgan in a personal account and 11.8 million additional shares through a limited partnership, according to a form that is not available. he filed with the Securities and Exchange Commission. He is the principal shareholder of Kinder Morgan, with a stake of more than 11% of the outstanding shares.
Richard Kinder and Kinder Morgan declined to comment on the latest stock purchases.
Kinder Morgan shares jumped from 31.8% in 2019 to Friday's close at $ 20.27, nearly double the 16.7% increase in the United States.
S & P 500
index. But stocks are down 6.7% from an intra-day high of $ 21,495 set on June 24 and set to 52 weeks.
Kinder Morgan's shares have grown after the recent sale of certain assets to a Canadian company.
Inside Scoop is a regular feature of Barron that covers stock trading by corporate executives and board members, called "insiders," as well as by major shareholders, politicians, and other personalities. Because of their insider status, these investors are required to disclose their stock trading with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin to [email protected] and follow @BarronsEdLin.
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