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Actionable news in KMI: KINDER MORGAN Inc,

Are Kinder Morgan Shares a Value Play?

When Kinder Morgan Inc. (NYSE: KMI) slashed its annual dividend by 75% late last year, the sky fell on the stock price. The stock dropped nearly 70% by mid-January.

Shares came back beginning in February and the year-to-date performance of Kinder Morgan stock shows a gain of nearly 25%. Warren Buffett, or one of his fund managers at Berkshire Hathaway Inc. (NYSE: BRK-A), must have seen that coming because Berkshire acquired 26.5 million shares in December of last year at a price somewhere below $15 a share.

When we covered Berkshire’s acquisition of Kinder Morgan stock rather than that of, say, Enterprise Products Partners LP (NYSE: EPD), our take was that added the complexity of a master limited partnership (MLP) to Berkshire’s already complex structure may have figured into Berkshire’s...


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