Pipelines: Update on the Kinder Morgan IPO -- Not A Bakken Story

Huge success for the Kinder Morgan IPO.

The pipeline company Kinder Morgan raised $2.86 billion in the biggest ever initial public offering for a U.S. company backed by private equity firms.

Kinder Morgan was able to sell more shares at a higher price than it anticipated. Investors pushed shares more than 3 percent above their $30 offering price in afternoon trading.

I do like pipelines. 

Kinder Morgan, based in Houston, moves gas, oil and other fuels through 37,000 miles of pipeline and 180 terminals. Investors hope the company will benefit from increasing production from newly unlocked natural gas and oil in shale formations across the U.S.

Ticker symbol: KMI.