Welch Group LLC reduced its position in shares of Kinder Morgan Inc. (NYSE:KMI) by 41.9% during the second quarter, Holdings Channel reports. The firm owned 12,770 shares of the company’s stock after selling 9,224 shares during the period. Welch Group LLC’s holdings in Kinder Morgan were worth $239,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in KMI. Prudential Financial Inc. boosted its stake in Kinder Morgan by 89.8% in the first quarter. Prudential Financial Inc. now owns 6,342,027 shares of the company’s stock worth $113,269,000 after buying an additional 3,001,190 shares during the last quarter. Brookfield Asset Management Inc. increased its position in Kinder Morgan by 117.6% in the first quarter. Brookfield Asset Management Inc. now owns 4,645,250 shares of the company’s stock worth $82,964,000 after buying an additional 2,510,767 shares during the period. AMP Capital Investors Ltd increased its position in Kinder Morgan by 74.7% in the first quarter. AMP Capital Investors Ltd now owns 5,198,277 shares of the company’s stock worth $92,843,000 after buying an additional 2,223,328 shares during the period. Wellington Management Group LLP increased its position in Kinder Morgan by 50.1% in the first quarter. Wellington Management Group LLP now owns 6,333,502 shares of the company’s stock worth $113,117,000 after buying an additional 2,114,436 shares during the period. Finally, Contrarius Investment Management Ltd purchased a new position in Kinder Morgan during the first quarter worth $32,951,000. 54.61% of the stock is owned by institutional investors.
Shares of Kinder Morgan Inc. (NYSE:KMI) traded down 0.52% on Monday, hitting $23.01. The company had a trading volume of 9,522,307 shares. The firm has a market capitalization of $51.37 billion, a price-to-earnings ratio of 821.79 and a beta of 0.69. The company has a 50 day moving average price of $21.99 and a 200 day moving average price of $19.39. Kinder Morgan Inc. has a 1-year low of $11.20 and a 1-year high of $32.89.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Kinder Morgan had a return on equity of 4.82% and a net margin of 1.63%. The business earned $3.14 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the company posted $0.16 earnings per share. Kinder Morgan’s revenue was down 9.2% compared to the same quarter last year. On average, equities analysts forecast that Kinder Morgan Inc. will post $0.67 earnings per share for the current fiscal year.
A number of research firms have weighed in on KMI. Vetr raised Kinder Morgan from a “buy” rating to a “strong-buy” rating and set a $24.78 price target for the company in a research report on Monday, September 12th. Jefferies Group reaffirmed a “hold” rating and set a $17.00 price target on shares of Kinder Morgan in a research report on Thursday, July 21st. Zacks Investment Research raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Tuesday, September 20th. Morgan Stanley raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $23.00 to $24.00 in a research report on Thursday, August 18th. Finally, Barclays PLC upped their price target on Kinder Morgan from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $20.83.
About Kinder Morgan
Kinder Morgan, Inc (KMI) is an energy infrastructure company in North America. The Company segments include Natural Gas Pipelines, carbon dioxide (CO2), Terminals, Products Pipelines, Kinder Morgan Canada and Other. The Company’s Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.
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