Panagora Asset Management Inc. lessened its holdings in Kinder Morgan Inc (NYSE:KMI) by 97.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 92,512 shares of the pipeline company’s stock after selling 3,385,644 shares during the quarter. Panagora Asset Management Inc.’s holdings in Kinder Morgan were worth $1,640,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cadence Capital Management LLC lifted its holdings in shares of Kinder Morgan by 2.5% during the third quarter. Cadence Capital Management LLC now owns 509,272 shares of the pipeline company’s stock worth $9,029,000 after purchasing an additional 12,214 shares during the period. Paloma Partners Management Co lifted its holdings in shares of Kinder Morgan by 14.3% during the second quarter. Paloma Partners Management Co now owns 84,323 shares of the pipeline company’s stock worth $1,490,000 after purchasing an additional 10,541 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Kinder Morgan during the second quarter worth about $24,035,000. Millennium Management LLC lifted its holdings in shares of Kinder Morgan by 81.4% during the second quarter. Millennium Management LLC now owns 3,673,782 shares of the pipeline company’s stock worth $64,916,000 after purchasing an additional 1,648,737 shares during the period. Finally, Wesbanco Bank Inc. lifted its holdings in shares of Kinder Morgan by 12.6% during the third quarter. Wesbanco Bank Inc. now owns 36,495 shares of the pipeline company’s stock worth $647,000 after purchasing an additional 4,077 shares during the period. 61.55% of the stock is owned by institutional investors and hedge funds.
KMI has been the subject of a number of research reports. Goldman Sachs Group initiated coverage on Kinder Morgan in a report on Monday, October 8th. They set a “conviction-buy” rating and a $24.00 target price for the company. Mizuho initiated coverage on Kinder Morgan in a report on Wednesday, November 28th. They set a “buy” rating and a $22.00 target price for the company. Wolfe Research downgraded Kinder Morgan from a “market perform” rating to an “underperform” rating in a report on Monday, November 26th. Zacks Investment Research downgraded Kinder Morgan from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Finally, Barclays set a $21.00 target price on Kinder Morgan and gave the stock a “buy” rating in a report on Friday, October 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $20.94.
In related news, insider Richard D. Kinder purchased 500,000 shares of the firm’s stock in a transaction on Thursday, September 27th. The stock was bought at an average cost of $17.55 per share, with a total value of $8,775,000.00. Following the completion of the acquisition, the insider now owns 235,212,353 shares of the company’s stock, valued at approximately $4,127,976,795.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 14.16% of the company’s stock.
Shares of NYSE:KMI opened at $16.17 on Friday. Kinder Morgan Inc has a 12-month low of $14.69 and a 12-month high of $19.83. The company has a market capitalization of $35.67 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 2.18 and a beta of 0.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.05 and a quick ratio of 0.98.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.21. Kinder Morgan had a return on equity of 5.51% and a net margin of 0.78%. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the company posted $0.15 earnings per share. Kinder Morgan’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Kinder Morgan Inc will post 0.87 EPS for the current year.
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About Kinder Morgan
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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