Vanguard Group Inc. Acquires 1,577,219 Shares of Kinder Morgan Inc (NYSE:KMI)
Vanguard Group Inc. boosted its holdings in shares of Kinder Morgan Inc (NYSE:KMI) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 163,647,617 shares of the pipeline company’s stock after purchasing an additional 1,577,219 shares during the quarter. Vanguard Group Inc. owned about 7.23% of Kinder Morgan worth $3,416,963,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of KMI. Clearbridge Investments LLC raised its stake in Kinder Morgan by 54.6% during the 1st quarter. Clearbridge Investments LLC now owns 29,164,247 shares of the pipeline company’s stock valued at $583,577,000 after purchasing an additional 10,302,503 shares during the period. Charles Schwab Investment Advisory Inc. raised its stake in Kinder Morgan by 85.4% during 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 purchasing an additional 5,679,805 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in Kinder Morgan during the 2nd quarter valued at approximately $58,636,000. Geode Capital Management LLC raised its stake in Kinder Morgan by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 23,513,119 shares of the pipeline company’s stock valued at $360,962,000 after purchasing an additional 1,758,792 shares during the period. Finally, Pinebridge Investments L.P. raised its stake in Kinder Morgan by 12,892.2% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,417,194 shares of the pipeline company’s stock valued at $29,591,000 after purchasing an additional 1,406,286 shares during the period. 61.74% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on KMI. Argus downgraded Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Stifel Nicolaus downgraded Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research note on Monday, June 17th. Johnson Rice started coverage on Kinder Morgan in a research note on Thursday, May 30th. They issued a “hold” rating and a $21.00 price objective on the stock. Zacks Investment Research reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Kinder Morgan in a research note on Saturday, June 29th. Finally, ValuEngine downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $21.91.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 17th. The pipeline company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.59 billion. Kinder Morgan had a net margin of 16.50% and a return on equity of 6.23%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. Equities research analysts predict that Kinder Morgan Inc will post 0.96 EPS for the current year.
In related news, Director Deborah Macdonald bought 5,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $19.91 per share, with a total value of $99,550.00. Following the transaction, the director now owns 30,328 shares in the company, valued at approximately $603,830.48. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Dax Sanders sold 71,944 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $20.05, for a total value of $1,442,477.20. Following the transaction, the vice president now directly owns 204,605 shares in the company, valued at approximately $4,102,330.25. The disclosure for this sale can be found here. In the last three months, insiders have bought 705,000 shares of company stock worth $14,007,550. Corporate insiders own 13.95% 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 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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