Stralem & Co. Inc. trimmed its holdings in Kinder Morgan Inc (NYSE:KMI) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 219,865 shares of the pipeline company’s stock after selling 23,465 shares during the quarter. Kinder Morgan makes up about 2.6% of Stralem & Co. Inc.’s holdings, making the stock its 25th biggest position. Stralem & Co. Inc.’s holdings in Kinder Morgan were worth $4,531,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in KMI. Charles Schwab Investment Advisory Inc. increased its holdings in shares of Kinder Morgan by 85.4% in the 2nd quarter. Charles Schwab Investment Advisory Inc. now owns 12,328,127 shares of the pipeline company’s stock valued at $257,411,000 after acquiring an additional 5,679,805 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in Kinder Morgan in the 2nd quarter valued at $58,636,000. Invesco Ltd. grew its position in Kinder Morgan by 30.7% in the 2nd quarter. Invesco Ltd. now owns 10,734,485 shares of the pipeline company’s stock valued at $224,135,000 after buying an additional 2,521,149 shares during the last quarter. Macquarie Group Ltd. grew its position in Kinder Morgan by 254.6% in the 2nd quarter. Macquarie Group Ltd. now owns 3,396,171 shares of the pipeline company’s stock valued at $70,913,000 after buying an additional 2,438,336 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Kinder Morgan by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 163,647,617 shares of the pipeline company’s stock valued at $3,416,963,000 after buying an additional 1,577,219 shares during the last quarter. 61.76% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Deborah Macdonald bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $19.91 per share, with a total value of $99,550.00. Following the purchase, the director now owns 30,328 shares of the company’s stock, valued at approximately $603,830.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard D. Kinder bought 400,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $19.95 per share, with a total value of $7,980,000.00. Following the purchase, the insider now directly owns 241,579,496 shares in the company, valued at approximately $4,819,510,945.20. The disclosure for this purchase can be found here. Insiders purchased a total of 705,000 shares of company stock worth $14,007,550 over the last quarter. Insiders own 13.95% of the company’s stock.
A number of research firms recently weighed in on KMI. Scotiabank began coverage on shares of Kinder Morgan in a research report on Tuesday, September 3rd. They issued a “sector perform” rating and a $23.00 price objective on the stock. ValuEngine lowered shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Raymond James lowered shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 price objective on the stock. in a research report on Wednesday, June 26th. Wolfe Research upgraded shares of Kinder Morgan from an “underperform” rating to a “peer perform” rating in a research report on Thursday, August 22nd. Finally, Scotia Howard Weill began coverage on shares of Kinder Morgan in a research report on Tuesday, September 3rd. They issued a “sector perform” rating and a $23.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $22.12.
Shares of Kinder Morgan stock traded down $0.09 on Wednesday, hitting $20.10. The company’s stock had a trading volume of 9,754,252 shares, compared to its average volume of 9,682,814. Kinder Morgan Inc has a 52-week low of $14.62 and a 52-week high of $21.50. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. The firm has a fifty day moving average price of $20.42 and a 200-day moving average price of $20.34. The company has a market capitalization of $45.80 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 4.24 and a beta of 0.81.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Kinder Morgan had a return on equity of 6.23% and a net margin of 16.50%. The business had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Kinder Morgan’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, analysts expect that Kinder Morgan Inc will post 0.96 earnings per share for the current year.
Kinder Morgan Company Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and storage systems; natural gas and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.
Recommended Story: What are Closed-End Mutual Funds?
Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan Inc (NYSE:KMI).
Receive News & Ratings for Kinder Morgan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinder Morgan and related companies with MarketBeat.com's FREE daily email newsletter.