Stock Traders Buy Large Volume of Put Options on Kinder Morgan (NYSE:KMI)
Kinder Morgan, Inc. (NYSE:KMI) was the target of unusually large options trading on Thursday. Investors bought 10,737 put options on the company. This is an increase of 548% compared to the typical daily volume of 1,658 put options.
In other Kinder Morgan news, insider Richard D. Kinder bought 500,000 shares of Kinder Morgan stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average cost of $18.58 per share, with a total value of $9,290,000.00. Following the completion of the purchase, the insider now owns 234,712,353 shares of the company’s stock, valued at $4,360,955,518.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Dax Sanders bought 2,600 shares of Kinder Morgan stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average cost of $18.60 per share, for a total transaction of $48,360.00. The disclosure for this purchase can be found here. 13.99% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of KMI. Pure Financial Advisors Inc. acquired a new position in Kinder Morgan during the first quarter valued at $212,000. Chevy Chase Trust Holdings Inc. increased its stake in Kinder Morgan by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,663,664 shares of the pipeline company’s stock valued at $36,168,000 after buying an additional 35,839 shares during the last quarter. Park National Corp OH increased its stake in Kinder Morgan by 4.0% in the first quarter. Park National Corp OH now owns 13,939 shares of the pipeline company’s stock valued at $303,000 after buying an additional 542 shares during the last quarter. Searle & CO. bought a new stake in Kinder Morgan during the fourth quarter valued at $257,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Kinder Morgan during the fourth quarter valued at $1,287,000. Institutional investors and hedge funds own 57.53% of the company’s stock.
Several research firms have recently issued reports on KMI. Stifel Nicolaus reissued a “buy” rating and set a $25.00 target price on shares of Kinder Morgan in a research note on Friday. Zacks Investment Research cut Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. BidaskClub upgraded Kinder Morgan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Morgan Stanley restated an “overweight” rating and set a $25.00 price target on shares of Kinder Morgan in a research report on Monday, July 3rd. Finally, Royal Bank Of Canada dropped their price target on Kinder Morgan from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $24.22.
Kinder Morgan (KMI) traded down 0.56% during mid-day trading on Tuesday, hitting $19.44. The stock had a trading volume of 1,432,530 shares. Kinder Morgan has a 52-week low of $18.31 and a 52-week high of $23.36. The firm has a 50-day moving average of $19.12 and a 200-day moving average of $20.89. The stock has a market cap of $43.40 billion, a P/E ratio of 64.37 and a beta of 0.63.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, April 19th. The pipeline company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.01. Kinder Morgan had a net margin of 6.27% and a return on equity of 4.62%. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the previous year, the business earned $0.12 EPS. Kinder Morgan’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts forecast that Kinder Morgan will post $0.66 EPS for the current fiscal year.
Kinder Morgan Company Profile
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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