
KMI$29.96▼ 0.8%Kinder Morgan's chairman bought $15 million at a higher price than his last 50 buys
Richard Kinder, Kinder Morgan's executive chairman and former chief executive, bought 500,000 shares on Nov. 6, his Form 4 shows. The purchase added about 0.2% to the shares he holds directly, and the filing gives no reason.
KeyVex News··5 min readFact-checked against 8 public records
KeyVex News··5 min readFact-checked against 8 public records
KMI$29.96▼ 0.8%Close, Nov. 6. Prices from Tiingo.The short versionTap to readTap to close
- From November 2015 through 2025, Kinder bought Kinder Morgan stock 50 times, his filings show. His average price never topped $26 a share.
- The stock posted its highest close in 10 years on Oct. 23, then fell with other pipeline stocks. On Nov. 6 he paid $29.99, about 15% more than his last purchase, in October 2025.
- It added about 0.2% to the shares he holds directly. His Form 4, the report insiders file after most trades, gives no reason and marks no trading plan.
- Next: Kinder Morgan pays its $0.2975-a-share dividend on Nov. 16. On the shares he held directly before the purchase, that is about $73 million, by KeyVex's math.
The purchase: Richard Kinder bought 500,000 shares of Kinder Morgan on Nov. 6 at an average $29.99, about $15 million, according to a Form 4 filed with the SEC that evening.Form 4 A Form 4 is the report a company's officers, directors and owners of more than 10% of its stock must file within two business days of most trades. Kinder is all three.Form 4
The man: Kinder was Kinder Morgan's chief executive from 1999 until 2015 and is now its executive chairman. At his request, his pay is a base salary of $1 a year, the company's April proxy statement says. The same proxy puts his stake at 11.6% of the company as of March 16.Proxy
Why it matters: Kinder's purchases come in bursts with long gaps, and each Form 4 records what he paid. His last purchase of common stock at a higher average price was in July 2015, at $34.97. His 50 purchases from November 2015 through 2025 all averaged $26 a share or less.Form 4s At $29.99, this one is higher than all of them, and it is small beside what he already owns.Chart dataForm 4
The stock: Kinder Morgan closed at $29.96 on Nov. 6, down 11.5% from $33.87 on Oct. 30. On Oct. 23, two weeks before the purchase, it had closed at $34.43, its highest close in KeyVex's 10 years of prices.Chart data
Kinder Morgan's stock and Richard Kinder's two latest purchasesDaily close, Oct. 1, 2025 to Nov. 6, 2026 ▲ 5.9%Show chartHide chart
A fall the whole group shared
Kinder Morgan's five-session fall from Oct. 30 to Nov. 6 was its biggest since April 2025, in KeyVex's price data.Chart data It did not fall alone. Williams fell 13.8% over the same five sessions, ONEOK 12.2% and Targa Resources 16.0%. An S&P 500 fund fell 2.7%.Prices
Part of the first day's drop was the dividend. Buyers from Nov. 2, the ex-dividend and record date, did not get the $0.2975 payment, a little under 1% of the price.Q3 releaseChart data
View the data
| Stock or fund (close Oct. 30 to close Nov. 6) | Fall | Note |
|---|---|---|
| Targa Resources ($314.99 to $264.59) | 16.0% | |
| Williams ($74.35 to $64.08) | 13.8% | |
| ONEOK ($97.07 to $85.19) | 12.2% | |
| Energy Select Sector SPDR Fund ($70.02 to $61.62) | 12.0% | |
| Kinder Morgan ($33.87 to $29.96) | 11.5% | |
| Energy Transfer ($20.91 to $18.92) | 9.5% | |
| SPDR S&P 500 ETF ($755.72 to $735.29) | 2.7% |
Closes are not adjusted for dividends; Kinder Morgan's and ONEOK's Nov. 2 closes are the first without their dividends. Source: Tiingo end-of-day closes via KeyVex.
Kinder Morgan's only filing of its own that week, on Nov. 5, said it would post an updated investor presentation on its website the next morning. The filing gives no figures.8-K
What the company says
On Oct. 21, Kinder Morgan reported what it called a record third quarter. Earnings per share rose 21% to $0.34, and its backlog of expansion projects reached $14.4 billion.Q3 release "Our record-setting performance is firmly grounded in our long-standing business model," Kinder said in the release.Q3 release
Analysts' views differ. In a roundup of recent analyst actions, Investing.com reported that Stifel reiterated a hold rating, while Argus and UBS kept buy ratings.Investing.com
What Kinder has paid before
He paid more in the years when the stock was higher: five purchases in 2015 averaged $35.63, and one that March cost $39.50 a share. He made 40 purchases in 2019 and six in 2020, paying as little as $14.09 a share. Then he reported none for five years.Form 4s
He returned on Oct. 27, 2025, with 1 million shares at an average $25.96, about $26 million.Form 4 His Nov. 6 purchase was half that many shares, at a higher price.Form 4
Average price Richard Kinder paid a share, by yearShow chartHide chart
View the data
| Year | Average price paid a share | Note |
|---|---|---|
| 2015 | $35.63 | 5 purchases, 500,000 shares |
| 2017 | $18.58 | 1 purchase, 500,000 shares |
| 2018 | $17.55 | 1 purchase, 500,000 shares |
| 2019 | $19.39 | 40 purchases, 7,926,767 shares |
| 2020 | $16.88 | 6 purchases, 2,073,233 shares |
| 2025 | $25.96 | 1 purchase, 1,000,000 shares |
| 2026 | $29.99 | 1 purchase, 500,000 shares |
Weighted by shares. Source: Richard D. Kinder's Form 4 filings, 2015 to 2026.
Beside what he owns, the purchase is small. It added about 0.2% to the 246.2 million shares he held directly before it.Form 4 At $0.2975 a share, the Nov. 16 dividend on those shares comes to about $73 million, by KeyVex's math.Q3 release
His Form 4 does not mark the purchase as made under a trading plan, a schedule of trades set in advance.Form 4 Eight of his 2019 filings say those purchases were made under such a plan.Form 4s The April proxy says 40 million of his shares are pledged for a margin loan he uses only to buy more Kinder Morgan stock; 11 million shares had been bought that way as of March 16.Proxy The Form 4 does not say how the Nov. 6 purchase was paid for, or why he made it.Form 4
Also in the filings
Nothing in the filings ties this item to Kinder's purchase. On Nov. 6, Kinder Morgan officer John W. Schlosser filed notice of a planned sale of 18,600 shares, about $562,000, under a trading plan he adopted on July 30. The shares came from a 2025 stock award, his Form 144 shows.Form 144
The paper trail
Selected filings from Oct. 21 through Nov. 6, 2026, with the time EDGAR accepted each one.
| Filed (ET) | Form | Filer | What it shows |
|---|---|---|---|
| Oct. 21, 4:10 p.m. | 8-K | Kinder Morgan | Third-quarter results: earnings per share of $0.34, up 21%; a $0.2975 dividend payable Nov. 16 to holders of record Nov. 2. |
| Oct. 23, 4:18 p.m. | 10-Q | Kinder Morgan | Quarterly report: 2,227,715,229 shares outstanding as of Oct. 22. |
| Nov. 5, 5:33 p.m. | 8-K | Kinder Morgan | Notice that an updated investor presentation will be posted by 6 a.m. Central time on Nov. 6. |
| Nov. 6, 10:23 a.m. | 144 | John W. Schlosser | Planned sale of 18,600 shares under a plan adopted July 30, 2026. |
| Nov. 6, 6:43 p.m. | 4 | Richard D. Kinder | Bought 500,000 shares at an average $29.9884 on Nov. 6, at prices from $29.92 to $29.99. Holds 246,712,353 directly. |
What to watch
Kinder Morgan pays its $0.2975 quarterly dividend to holders of record on Nov. 2.
A Form 4 from John W. Schlosser would show whether the planned sale took place: Form 4s are due within two business days of a trade.
Sources
11 sources, 8 of them public records
Public records
- Form 4, Richard D. Kinder (Kinder Morgan)SEC EDGAR · Nov. 6, 2026
- Form 4, Richard D. Kinder (Kinder Morgan)SEC EDGAR · Oct. 28, 2025
- Richard D. Kinder's Form 4 filings, 2015 to 2026SEC EDGAR · 2015 to 2026
- Kinder Morgan Inc., Form 8-K, Exhibit 99.1: third-quarter 2026 resultsSEC EDGAR · Oct. 21, 2026
- Kinder Morgan Inc., Form 10-Q for the quarter ended Sept. 30, 2026SEC EDGAR · Oct. 23, 2026
- Kinder Morgan Inc., Form 8-K (Item 7.01): updated investor presentationSEC EDGAR · Nov. 5, 2026
- Kinder Morgan Inc., definitive proxy statement (DEF 14A)SEC EDGAR · April 2, 2026
- Form 144, John W. Schlosser (Kinder Morgan)SEC EDGAR · Nov. 6, 2026
Reporting
- "Kinder Morgan executive chairman Richard Kinder buys $15M in stock"Investing.com · Nov. 7, 2026
Data
- End-of-day prices for KMI, WMB, OKE, TRGP, ET, XLE and SPY, and QQQ on the chart (Tiingo)KeyVex · through Nov. 6, 2026
- The chart's Filings layer: KeyVex's Congress trade, insider trade, Form 144, 8-K and lobbying records for KMIKeyVex · through Nov. 6, 2026
How we got these numbers
- Prices are end-of-day closes as traded, not adjusted for dividends. Moves are close to close. Kinder Morgan's Nov. 2, 2026 close is the first without its $0.2975 quarterly dividend. Every Kinder Morgan close in the chart's Story range is in its data table. The S&P 500 and Nasdaq 100 lines follow SPY and QQQ, also as traded, rebased to Kinder Morgan's close at the start of the range shown. The Filings switch shows a selection of the filing markers from KeyVex's Kinder Morgan page, not every filing, and not only those tied to this story.
- "Biggest five-session fall since April 2025" compares the Nov. 6 close with the close five sessions earlier, against every such five-session window in KeyVex's 10 years of Kinder Morgan closes (from Nov. 7, 2016). The worst window since then ended April 8, 2025 (down 11.95%); Nov. 6, 2026 was down 11.54%.
- Kinder's purchase history covers every Form 4 he filed for Kinder Morgan common stock from Jan. 1, 2015, through Nov. 6, 2026, read from the filings themselves (open-market purchases, transaction code P). Five purchases in 2015 (March 13 at $39.50, June 5 at $39.99, June 12 at $38.9989, July 24 at $34.9744 and Nov. 11 at $24.69, 100,000 shares each), none in 2016, and 50 from 2017 through Nov. 6, 2026 (12,500,000 shares, about $247.7 million). Prices are each filing's weighted average; within a filing, single fills can be a little higher (the Oct. 27, 2025 purchase ranged from $25.805 to $26.095). Yearly averages are weighted by shares. From 2011 through 2014 he bought at average prices of about $25 to about $36. Separately, on Oct. 27, 2015, a limited partnership he controls bought 408,163 depositary shares of Kinder Morgan's 9.75% Series A mandatory convertible preferred stock at $49 each (Form 4 0001584746-15-000018); each converted into at least 1.544 common shares.
- "Shares he holds directly" is the Form 4's direct holding: 246,712,353 after the purchase, 246,212,353 before it. The Form 4 also reports 61,479 shares held by his spouse and 11,812,747 held by a limited partnership; he disclaims beneficial interest in the spouse's shares and 99% of the partnership's. The 11.6% stake is the proxy's beneficial-ownership figure as of March 16, 2026.
- The dividend figure is KeyVex's math: 246,212,353 shares held directly before the purchase, which the Form 4s show he held on the Nov. 2 record date, times $0.2975, about $73.2 million. The purchase cost $14,994,200 at the Form 4's average price.




