Arden Trust Co cut its position in Kinder Morgan, Inc. (NYSE:KMI) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,875 shares of the pipeline company’s stock after selling 10,039 shares during the quarter. Arden Trust Co’s holdings in Kinder Morgan were worth $837,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. CX Institutional increased its stake in Kinder Morgan by 444.6% in the second quarter. CX Institutional now owns 1,661 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 1,356 shares during the period. Truehand Inc acquired a new stake in shares of Kinder Morgan during the second quarter worth about $27,000. Proffitt & Goodson Inc. purchased a new position in shares of Kinder Morgan during the second quarter worth about $28,000. Larson Financial Group LLC increased its position in Kinder Morgan by 161.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,845 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,138 shares during the period. Finally, Rockbridge Investment Management LCC acquired a new position in Kinder Morgan in the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 60.63% of the company’s stock.
Several research analysts have weighed in on KMI shares. Piper Sandler lowered their target price on Kinder Morgan from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Morgan Stanley lowered their price objective on shares of Kinder Morgan from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 25th. Goldman Sachs Group raised shares of Kinder Morgan from a “sell” rating to a “neutral” rating and lowered their target price for the company from $14.00 to $13.00 in a report on Wednesday. ValuEngine cut shares of Kinder Morgan from a “hold” rating to a “sell” rating in a report on Wednesday, September 16th. Finally, Stifel Nicolaus lowered their price objective on Kinder Morgan from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, August 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $17.75.
Shares of Kinder Morgan stock opened at $12.86 on Friday. Kinder Morgan, Inc. has a fifty-two week low of $9.42 and a fifty-two week high of $22.58. The business’s fifty day moving average is $12.99 and its two-hundred day moving average is $14.40. The company has a quick ratio of 0.41, a current ratio of 0.48 and a debt-to-equity ratio of 0.98. The firm has a market cap of $29.11 billion, a PE ratio of 183.74, a P/E/G ratio of 4.87 and a beta of 0.96.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 22nd. The pipeline company reported $0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Kinder Morgan had a return on equity of 6.02% and a net margin of 1.41%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period in the prior year, the firm posted $0.22 earnings per share. Equities research analysts anticipate that Kinder Morgan, Inc. will post 0.88 EPS for the current year.
In related news, major shareholder Richard D. Kinder bought 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were acquired at an average cost of $14.14 per share, with a total value of $4,242,000.00. Following the completion of the transaction, the insider now owns 244,839,120 shares of the company’s stock, valued at $3,462,025,156.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William A. Smith bought 7,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was bought at an average price of $13.96 per share, with a total value of $97,720.00. Following the completion of the acquisition, the director now owns 28,087 shares of the company’s stock, valued at approximately $392,094.52. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 680,233 shares of company stock valued at $9,598,573. Corporate insiders own 14.19% of the company’s stock.
Kinder Morgan 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 gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas liquefaction and storage facilities.
Featured Article: What is the Russell 2000 Index?
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.