Warren Buffett's Berkshire Hathaway takes $400M stake in pipeline company Kinder Morgan

Billionaire investor Warren Buffett's company acquired a nearly $400 million stake in Houston-based pipeline operator Kinder Morgan.

Omaha, Neb.-based Berkshire Hathaway now owns 26.53 million shares of the company, according to a according to a filing with the U.S. Securities and Exchange Commission.

The stake was valued at $395.8 million, according to the filing by Berkshire Hathaway, which is a major owner of gas pipeline investments.

It was not immediately clear what price Buffett's investment firm paid for the Kinder Morgan shares, but it appears to be a classic example of the so-called Oracle of Omaha's buy-low philosophy: Kinder Morgan's stock fell 53% during the fourth quarter, closing the year at $14.92.

Kinder Morgan operates or holds a stake in about 84,000 miles of pipeline that transport natural gas, oil and other products.

News of the acquisition comes about three weeks after Kinder Morgan announced that it had secured new operating capital financing, saying it had an "exceptionally strong" financial outlook despite the downturn in the energy market.

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Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.