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Norwegian wealth fund invests $917.5 million in Kinder Morgan, acquiring a 1.51% stake.
Norwegian sovereign wealth fund, Norges Bank, bought a significant stake in Kinder Morgan, acquiring 33.5 million shares valued at $917.5 million, representing about 1.51% of the company.
Despite slightly missing earnings expectations, Kinder Morgan has a "Moderate Buy" rating and a $29.64 price target.
The company specializes in natural gas and products pipelines, terminals, and CO2, with a market cap of $62.75 billion and a dividend yield of 4.07%.
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El fondo de riqueza noruego invierte 917,5 millones de dólares en Kinder Morgan, adquiriendo una participación del 1,51%.