- Reuters•3 hours ago
Fayez Sarofim, a billionaire darling of Houston high society known for running a Texas investment company, has agreed to pay a $720,000 civil penalty for failing to report the purchase of voting securities of Kinder Morgan and Kemper Corporation (KMPR.N), the Federal Trade Commission said on Friday. Sarofim, chairman of Fayez Sarofim & Co investment advisers, bought Kinder Morgan securities in 2001, 2006 and 2012, and Kemper Corp securities in 2007 but failed to notify antitrust enforcers, the FTC said. Big mergers and large share purchases must be reported to the Federal Trade Commission, which works with the Justice Department to ensure that the transactions are legal under antitrust law.
- Motley Fool•3 days ago3 Things Kinder Morgan Inc.'s Founder Wants You to Know About the Future of New Energy Pipelines in America
The energy infrastructure giant’s CEO Richard Kinder offered his perspective on the changing dynamics in the pipeline sector.
- Barrons.com•4 days ago
Kinder Morgan (KMI) shares were continuing their ascent Monday after posting earnings last week that convinced investors the company is likely to hike its dividend next year. Raymond James was latest in a string of Wall Street upgrades Monday. Analyst Darren Horowitz raised his rating to Strong Buy from Outperform, lifted his target price to $27 from $23, and lowered his risk rating to "medium" from "high." He forecasts a 130% dividend increase coming in 2018, which would bring KMI's yield, using the current stock price, to 5.3% from 2.34%.