In trading on Wednesday, shares of Kinder Morgan Inc. (KMI) touched a new 52-week low of $31.36/share. That's a $10.13 share price drop, or -24.42% decline from the 52-week high of $41.49 set back on 05/21/2013. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for KMI that means the stock would have to gain 32.30% to get back to the 52-week high. For a move like that, Kinder Morgan Inc. would need fundamental strength at the business level.Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as KMI shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, KMI has seen 4 different instances of insiders buying over the past six months.
|12/04/2013||James E. Street||VP, HR and Administration||985||$33.21||$32,708.90|
|12/18/2013||Richard D. Kinder||Chairman and CEO||828,324||$33.37||$27,640,637.11|
|02/06/2014||John Michael Stokes||Director||20,000||$33.50||$669,944.00|
|02/20/2014||Richard D. Kinder||Chairman and CEO||100,000||$32.97||$3,297,280.00|
|02/24/2014||Dax Sanders||Vice President, Corporate Dev.||1,000||$32.35||$32,350.00|
|02/24/2014||Richard D. Kinder||Chairman and CEO||199,165||$32.09||$6,390,926.02|
Time will tell whether the insider purchases foretell a future rebound for KMI shares, which are presently showing a last trade of $31.41/share, slightly above the new 52-week low.