Viking Fund Management LLC reduced its position in shares of Kinder Morgan Inc. (NYSE:KMI) by 18.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,220,000 shares of the company’s stock after selling 285,000 shares during the period. Kinder Morgan accounts for approximately 4.6% of Viking Fund Management LLC’s holdings, making the stock its 2nd largest position. Viking Fund Management LLC’s holdings in Kinder Morgan were worth $28,219,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hudock Capital Group LLC increased its position in Kinder Morgan by 12.0% in the second quarter. Hudock Capital Group LLC now owns 5,394 shares of the company’s stock worth $100,000 after buying an additional 576 shares in the last quarter. Stelac Advisory Services LLC bought a new position in Kinder Morgan during the first quarter worth $110,000. Huntington Asset Advisors Inc. bought a new position in Kinder Morgan during the first quarter worth $111,000. Hallmark Capital Management Inc. bought a new position in Kinder Morgan during the second quarter worth $157,000. Finally, Pure Financial Advisors Inc. bought a new position in Kinder Morgan during the third quarter worth $203,000. Hedge funds and other institutional investors own 54.61% of the company’s stock.
Kinder Morgan Inc. (NYSE:KMI) traded down 0.0679% during trading on Thursday, hitting $20.7359. The stock had a trading volume of 11,527,933 shares. The stock has a market capitalization of $46.29 billion, a P/E ratio of 740.5679 and a beta of 0.69. Kinder Morgan Inc. has a 52 week low of $11.20 and a 52 week high of $32.79. The company has a 50-day moving average of $21.98 and a 200-day moving average of $19.59.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.15 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Kinder Morgan had a net margin of 1.63% and a return on equity of 4.82%. The business earned $3.14 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, equities analysts expect that Kinder Morgan Inc. will post $0.67 earnings per share for the current fiscal year.
KMI has been the subject of several research analyst reports. Vetr downgraded Kinder Morgan from a “hold” rating to a “sell” rating and set a $18.16 target price for the company. in a research note on Monday, July 11th. Jefferies Group reiterated a “hold” rating and set a $17.00 target price on shares of Kinder Morgan in a research note on Thursday, July 21st. Zacks Investment Research upgraded Kinder Morgan from a “strong sell” rating to a “hold” rating in a research note on Monday, June 20th. Credit Suisse Group AG set a $23.00 target price on Kinder Morgan and gave the stock a “hold” rating in a research note on Wednesday, July 20th. Finally, Barclays PLC lifted their target price on Kinder Morgan from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, July 18th. Thirteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Kinder Morgan has a consensus rating of “Hold” and an average target price of $21.35.
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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