Richard Kinder buys 500K Kinder Morgan shares

|By:, SA News Editor

Kinder Morgan (KMI +2.6%) CEO Richard Kinder today bought 500K KMI shares at $35.47-$36, worth ~$17.9M, an SEC filing reveals.

Last week, Hedgeye asserted KMI and its affiliated companies were headed for a fall, apparently over how the Kinder companies account for maintenance and capex spending, commodity hedging and acquisition strategies.

The CEO owns more than $8B worth of various Kinder entities; would anyone really put this much of their savings into a fraud?

Also: KMP +0.2%, KMR -0.4%, EPB -0.4%.