(KMI-WT), I understand that KMI has been active in the buy-back of the warrants issued related to the El Paso deal, Can anyone comment on the remaining "float"? These units have been moving upward very nicely and obviously the more KMI buys-back, fewer units remain in play. Price could escalate based on KMI share price as well as warrant availability.
As near as I can figure 55m warrants were bought back by KMI through the end of the last quarter (brief mention on the CC) which would have been about half of the dollar value authorized. With the price of the warrants increasing they would be able to buy back another 30m or so. My numbers are only educated guess since we don't what they've been buying them at.
I can't believe just the buyback accounts for the awesome price performance of the warrants though. Somebody else is buying them big time.