Stock purchases by prominent insiders at two energy firms continue to flow.
We reported on Monday that
(ticker: KMI) Executive Chairman Richard Kinder and
(ET) Chairman and CEO Kelcy Warren bought millions of dollars of their respective company’s shares on the open market.
Richard Kinder and Warren disclosed more-recent purchases in forms they filed with the Securities and Exchange Commission late Friday and early Monday, respectively.
Richard Kinder paid $5.7 million on Feb. 28 for 300,000 additional Kinder Morgan shares, an average price of $18.88 each. He bought the energy-pipeline firm’s stock through a personal account and now owns 243.7 million shares in that account; Richard Kinder also owns an additional 11.8 million shares through a limited partnership.
Warren paid $42.6 million on Feb. 27 for 4 million more of the Energy Transfer’s publicly traded units. He also bought through a personal account, which now owns 46.5 million units of the diversified energy firm; Warren also owns 213 million Energy Transfer units through entities including limited partnerships and limited-liability companies.
Richard Kinder and Kinder Morgan both declined to comment on the executive chairman’s transaction.
In response to a request to make Warren available to comment on his latest reported transaction, Energy Transfer provided the statement: “Mr. Warren and other members of the executive management team continue to invest in Energy Transfer. In the past 10 days alone, Mr. Warren has purchased nearly 8 million Energy Transfer units for just under $91 million dollars.”
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
Read More: More Big Energy Stock Purchases at Kinder Morgan, Energy Transfer