Richard Kinder Buys 500,000 Kinder Morgan Shares on Nov. 6
Key Facts
Richard D. Kinder, executive chairman and director of Kinder Morgan, bought 500,000 P shares on Nov. 6, 2026, according to a Form 4 filed with the U.S. Securities and Exchange Commission. The transaction was listed in the disclosure as a purchase of shares, and the form identified Kinder as a 10% owner. The company filed the transaction on the same day it was executed, and the SEC accepted the form at 18:43:53, according to the filing details page. The disclosure establishes the number of shares, transaction date and Kinder’s status, but does not state the reason for the purchase. The company’s shares closed at $29.96 in that session, according to EL7 data.
The form showed Kinder’s direct holdings after the transaction at 246,712,353 shares. It also disclosed 61,479 shares held indirectly through his wife and 11,812,747 shares through a limited partnership. Kinder disclaimed any interest in the shares registered in his wife’s name. He also disclaimed 99% of the interest in the limited partnership shares. These disclosures show how direct and indirect ownership is recorded on the form, while the reported transaction remains the purchase of 500,000 P shares.
The disclosure followed the company’s shares closing at $32.87 on Nov. 3, then ending the Nov. 6 session at $29.96, according to EL7 data. Other historical data show a Nov. 5 close of $30.19, followed by a 0.76% drop in KMI shares in the Nov. 6 session. Session data recorded a high of $30.34 and a low of $29.92. The transaction-day close was therefore below the previous day’s close and the closing level recorded on Nov. 3. Kinder’s form does not state the reason for the purchase or link it to the share-price moves during that period.
The company’s quarterly results provide context for Kinder Morgan’s business. On Oct. 21, it reported net income attributable to the company of $764 million in the third quarter of 2026, compared with $628 million in the same period of 2025. Kinder said the natural gas business is benefiting from rising liquefied natural gas exports, higher electricity demand and industrial expansion. The company added that its expansion project backlog totaled $14.4 billion at the end of the third quarter, up $4.7 billion from the second quarter. It said more than 75% of the backlog’s value is tied to projects supporting power generation and demand from local distribution companies. This places business growth and projects in the context of the company’s statements, without establishing a connection to Kinder’s decision to buy shares.
The company said cash flow from operations totaled $5 billion through the end of the third quarter, while free cash flow after capital expenditures and distributions was $230 million. Net debt to adjusted earnings before interest, taxes, depreciation and amortization stood at 3.5 times at quarter-end. Kinder Morgan expects to exceed its 2026 budget by more than 6% on an adjusted EBITDA basis and by more than 13% on an adjusted earnings-per-share basis. It also expects net debt to adjusted EBITDA to be 3.6 times at year-end. These are company estimates issued with its third-quarter results.
Kinder Morgan is scheduled to pay a quarterly cash dividend of $0.2975 per share on Nov. 16, 2026, to shareholders of record at the close of Nov. 2, according to its earnings release. The announced dividend equates to $1.19 per share on an annualized basis. On projects, the company expects to place the Permian Link project into service in the third quarter of 2030, subject to receiving the required permits and approvals on time. The company said the expansion of its project backlog is largely tied to demand from power generation and local distribution companies. The upcoming dividend date and the project’s long-term service target put the business against two announced milestones, while Kinder’s disclosure concerns the share transaction executed on Nov. 6.