NEW YORK (TheStreet) -- Shares of Kinder Morgan (KMI) are higher by roughly 1% on Thursday, despite missing on earnings per share and revenue expectations. However, the company raised its dividend by 2.3% and made an acquisition announcement. 

On CNBC's "Mad Dash" segment, Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said the company purchased privately held Hilland Partners from oil tycoon Harold Hamm, who also serves as the CEO of Continental Resources (CLR - Get Report) . 

The deal will give Kinder Morgan more fee-based transportation exposure to the Bakken formation, leading to what Cramer referred to as a "brilliant acquisition." 

KMI Chart
Kinder Morgan KMI data by YCharts

So with a boosted dividend, stable business and a sharp eye for attractive M&A candidates, why aren't investors buying more of the stock? It's because CEO Richard Kinder is stepping down from his post. 

However, Cramer was quick to point out that Kinder will remain at the company as a non-executive chairman. Kinder was quoted on the conference call saying, "I plan to die with my boots on." 

In other words, he'll remain at Kinder Morgan, so investors should "stop fretting and start buying," Cramer reasoned. 

-- Written by Bret Kenwell

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS was long KMI.