The KMR secondary (about 10% KMR dilution) also dilutes KMP. so why is KMP up?
KMR's 8.8 million shares were sold on the open market and the price was set lower than last trade I assume. KMP shares went to KMI and not sold on the open market. KMR and KMP usually recover after the offering is sold. We will just have to wait and see about KMR this time as KMP was not really involved in a open market sale.
dropdown from KMI announced