Kinder Morgan, operating out of Houston, Texas, is the largest energy infrastructure company in North American with more than 84,000 miles of pipelines and 165 terminals.
Richard Kinder, the founder of the company, has an estimated net worth (2015) of 11.8 billion dollars according to Forbes.
Insider Monkey reported:
Last month, we told you about two 100,000-each purchases of Kinder Morgan stock by company founder Richard Kinder, and a smaller purchase by the company’s CEO. Last week, we learned that insiders are still scooping up stock for their own accounts. Specifically, on July 24, a pair of Form 4 filings with the SEC described purchases of:
– 100,000 shares of Kinder Morgan stock, bought by company Chairman Richard D. Kinder on July 24 at an average purchase price of $34.97 per share. (100,000 share blocks appear to be his preferred way to invest in Kinder Morgan stock).
– and 500,000 shares bought by director Fayez Sarofim on July 22, at an even higher price — $35.33.
Together, that’s more than $21 million worth of Kinder Morgan stock bought by insiders in just three days of trading.