The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $37.9M invested across 6 purchases by Richard D. Kinder, Executive Chairman at Kinder Morgan Inc. (Symbol: KMI).
|08/23/2019||Richard D. Kinder||Executive Chairman||400,000||$19.95||$7,979,760.00|
|08/26/2019||Richard D. Kinder||Executive Chairman||300,000||$19.76||$5,927,460.00|
|10/29/2019||Richard D. Kinder||Executive Chairman||300,000||$20.17||$6,051,390.00|
|10/31/2019||Richard D. Kinder||Executive Chairman||300,000||$20.01||$6,003,630.00|
|11/11/2019||Richard D. Kinder||Executive Chairman||300,000||$19.97||$5,991,330.00|
|11/26/2019||Richard D. Kinder||Executive Chairman||300,000||$19.74||$5,920,590.00|
Kinder's average cost works out to $19.93/share. In trading on Wednesday, bargain hunters could buy shares of Kinder Morgan Inc. (Symbol: KMI) and achieve a cost basis lower than Kinder, with shares changing hands as low as $19.14 per share. Shares of Kinder Morgan Inc. were changing hands at $19.30 at last check, trading up about 0.8% on Wednesday. The chart below shows the one year performance of KMI shares, versus its 200 day moving average:
Looking at the chart above, KMI's low point in its 52 week range is $14.6201 per share, with $21.495 as the 52 week high point — that compares with a last trade of $19.30.
The current annualized dividend paid by Kinder Morgan Inc. is $1/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 10/30/2019. Below is a long-term dividend history chart for KMI, which can be of good help in judging whether the most recent dividend with approx. 5.2% annualized yield is likely to continue.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.