PVG Asset Management Corp trimmed its stake in shares of Kinder Morgan Inc (NYSE:KMI) by 29.5% in the 2nd quarter, Holdings Channel reports. The firm owned 110,162 shares of the pipeline company’s stock after selling 46,173 shares during the quarter. Kinder Morgan makes up about 1.2% of PVG Asset Management Corp’s portfolio, making the stock its 27th biggest position. PVG Asset Management Corp’s holdings in Kinder Morgan were worth $1,946,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in KMI. Rockefeller Capital Management L.P. purchased a new stake in Kinder Morgan in the 1st quarter worth about $38,882,000. Starr International Co. Inc. lifted its stake in Kinder Morgan by 36.0% in the 2nd quarter. Starr International Co. Inc. now owns 198,576 shares of the pipeline company’s stock worth $3,509,000 after acquiring an additional 52,599 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Kinder Morgan by 6.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,546,169 shares of the pipeline company’s stock worth $133,341,000 after acquiring an additional 442,152 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Kinder Morgan in the 2nd quarter worth about $988,000. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in Kinder Morgan by 1,177.2% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,488,729 shares of the pipeline company’s stock worth $26,306,000 after acquiring an additional 1,372,163 shares in the last quarter. 60.34% of the stock is owned by institutional investors and hedge funds.
Shares of KMI stock opened at $18.06 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.03. Kinder Morgan Inc has a fifty-two week low of $14.69 and a fifty-two week high of $19.85. The stock has a market capitalization of $40.06 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.56 and a beta of 0.70.
Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 18th. The pipeline company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. Kinder Morgan had a positive return on equity of 5.07% and a negative net margin of 1.82%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the firm posted $0.14 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. equities research analysts expect that Kinder Morgan Inc will post 0.83 earnings per share for the current fiscal year.
Several brokerages recently issued reports on KMI. Wells Fargo & Co reissued a “buy” rating on shares of Kinder Morgan in a research note on Thursday, July 19th. JPMorgan Chase & Co. increased their price objective on Kinder Morgan from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Citigroup reduced their price objective on Kinder Morgan from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Stifel Nicolaus increased their price objective on Kinder Morgan from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Finally, US Capital Advisors reissued a “buy” rating on shares of Kinder Morgan in a research note on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $20.89.
In other news, Director William A. Smith bought 5,556 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were bought at an average cost of $18.09 per share, with a total value of $100,508.04. Following the transaction, the director now directly owns 14,587 shares in the company, valued at approximately $263,878.83. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 14.16% of the company’s stock.
Kinder Morgan Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada 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.
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