Kinder Morgan Inc. (KMI, Financial)
According to GuruFocus Insider Data, Chairman, CEO and 10% owner of Kinder Morgan Inc. (KMI), Richard Kinder, bought 100,000 shares of his company on March 28. The purchase totaled $2,980,000 at an average price of $29.8 per share.
Kinder Morgan Inc. has a market cap of $21.1 billion. The stock has gone down -0.03% in price since then and has earnings per share of -0.051.
Kinder Morgan is a top producer of pipeline transportation and energy storage in North America. Kinder Morgan Inc. owns the general partner interest in Kinder Morgan Enterprise Partners, L.P. (KMP, Financial), and they have a third entity, Kinder Morgan Management LLC (KMY, Financial). Together, their approximate enterprise value equals $55 billion.
Recently, Kinder Morgan Partners announced it would acquire and form a crude oil joint venture with Deeprock Energy Resources LLC and Mercuria Energy Trading Inc. that will considerably enlarge its oil storage business. They will invest $25 million for a 50% stake in an existing crude tank farm of 100,000 barrels of oil, and to build three new storage tanks with a total capacity of 750,000 barrels. The company will also have the option to further expand into Deeprock’s additional 245 acres of undeveloped land.
"This joint venture with Deeprock and Mercuria, in conjunction with our recently announced investment in the WATCO rail company, creates a great platform for future expansions in this key crude oil market," said KMP Terminals President Jeff Armstrong.
The company expects the transaction to be immediately accretive to cash distributable to KMP unitholders.
FelCor Lodging Trust Inc. (FCH, Financial)
Today Executive VP and CFO of FelCor Lodging Trust Inc. (FCH) Andrew Welch bought 62,060 shares of his company on March 29 at an average price of $6 and a total transaction amount of $372,360. President and CEO and 10% owner of FelCor Richard Allen Smith bought 185,354 shares of his company on March 29 at an average price of $6 per share, for a total transaction amount of $1,112,124. The stock has fallen -3% since then.
FelCor Lodging Trust is a real estate investment trust with a market cap of $564 million and P/S ratio of 0.6. The company has revenue of $952 million per year, and had revenue growth of -20.2% in the last 12 months. Earnings per share were -2.30 in Dec. 2010.
On March 29, the company commenced a public stock offering of 24 million shares at $6 per share. FelCor expected to raise $139.2 million in net proceeds in the offering and will use the money to fund the upcoming acquisition of Fairmont Copley Plaza in Boston.
FelCor is in the portfolio of guru John Paulson. He owns 4,500,000 shares, amounting to 0.11% of total of the assets he manages.
For the complete list of stocks that bought by their CEOs, go to: GuruFocus Insider Data.
According to GuruFocus Insider Data, Chairman, CEO and 10% owner of Kinder Morgan Inc. (KMI), Richard Kinder, bought 100,000 shares of his company on March 28. The purchase totaled $2,980,000 at an average price of $29.8 per share.
Kinder Morgan Inc. has a market cap of $21.1 billion. The stock has gone down -0.03% in price since then and has earnings per share of -0.051.
Kinder Morgan is a top producer of pipeline transportation and energy storage in North America. Kinder Morgan Inc. owns the general partner interest in Kinder Morgan Enterprise Partners, L.P. (KMP, Financial), and they have a third entity, Kinder Morgan Management LLC (KMY, Financial). Together, their approximate enterprise value equals $55 billion.
Recently, Kinder Morgan Partners announced it would acquire and form a crude oil joint venture with Deeprock Energy Resources LLC and Mercuria Energy Trading Inc. that will considerably enlarge its oil storage business. They will invest $25 million for a 50% stake in an existing crude tank farm of 100,000 barrels of oil, and to build three new storage tanks with a total capacity of 750,000 barrels. The company will also have the option to further expand into Deeprock’s additional 245 acres of undeveloped land.
"This joint venture with Deeprock and Mercuria, in conjunction with our recently announced investment in the WATCO rail company, creates a great platform for future expansions in this key crude oil market," said KMP Terminals President Jeff Armstrong.
The company expects the transaction to be immediately accretive to cash distributable to KMP unitholders.
FelCor Lodging Trust Inc. (FCH, Financial)
Today Executive VP and CFO of FelCor Lodging Trust Inc. (FCH) Andrew Welch bought 62,060 shares of his company on March 29 at an average price of $6 and a total transaction amount of $372,360. President and CEO and 10% owner of FelCor Richard Allen Smith bought 185,354 shares of his company on March 29 at an average price of $6 per share, for a total transaction amount of $1,112,124. The stock has fallen -3% since then.
FelCor Lodging Trust is a real estate investment trust with a market cap of $564 million and P/S ratio of 0.6. The company has revenue of $952 million per year, and had revenue growth of -20.2% in the last 12 months. Earnings per share were -2.30 in Dec. 2010.
On March 29, the company commenced a public stock offering of 24 million shares at $6 per share. FelCor expected to raise $139.2 million in net proceeds in the offering and will use the money to fund the upcoming acquisition of Fairmont Copley Plaza in Boston.
FelCor is in the portfolio of guru John Paulson. He owns 4,500,000 shares, amounting to 0.11% of total of the assets he manages.
For the complete list of stocks that bought by their CEOs, go to: GuruFocus Insider Data.
