New England Asset Management Inc. increased its position in Kinder Morgan Inc (NYSE:KMI) by 17.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,675 shares of the pipeline company’s stock after acquiring an additional 22,800 shares during the quarter. New England Asset Management Inc.’s holdings in Kinder Morgan were worth $3,250,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in KMI. Citizens Financial Group Inc RI lifted its position in Kinder Morgan by 119.2% during the first quarter. Citizens Financial Group Inc RI now owns 1,256 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 683 shares during the last quarter. AlphaMark Advisors LLC lifted its position in Kinder Morgan by 106.7% during the first quarter. AlphaMark Advisors LLC now owns 1,550 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 800 shares during the last quarter. SRS Capital Advisors Inc. bought a new stake in Kinder Morgan during the second quarter valued at approximately $32,000. Weaver Consulting Group bought a new stake in Kinder Morgan during the first quarter valued at approximately $33,000. Finally, Bartlett & Co. LLC bought a new stake in Kinder Morgan during the second quarter valued at approximately $37,000. Institutional investors own 61.74% of the company’s stock.
Shares of NYSE KMI traded up $0.23 during mid-day trading on Friday, hitting $20.92. The stock had a trading volume of 13,773,608 shares, compared to its average volume of 11,914,832. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.33 and a current ratio of 0.41. Kinder Morgan Inc has a 1 year low of $14.62 and a 1 year high of $21.50. The business has a 50 day moving average price of $20.27 and a two-hundred day moving average price of $20.28. The firm has a market cap of $46.79 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 4.33 and a beta of 0.82.
Several equities research analysts have issued reports on KMI shares. ValuEngine lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Argus lowered shares of Kinder Morgan from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Scotiabank began coverage on shares of Kinder Morgan in a report on Tuesday, September 3rd. They issued a “sector perform” rating and a $23.00 price objective for the company. Wolfe Research upgraded shares of Kinder Morgan from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 22nd. Finally, Raymond James lowered shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 price objective for the company. in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Kinder Morgan presently has an average rating of “Hold” and a consensus target price of $21.91.
In other Kinder Morgan news, VP Dax Sanders sold 71,944 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $20.05, for a total transaction of $1,442,477.20. Following the transaction, the vice president now directly owns 204,605 shares of the company’s stock, valued at approximately $4,102,330.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah Macdonald acquired 5,000 shares of Kinder Morgan stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $19.91 per share, for a total transaction of $99,550.00. Following the completion of the transaction, the director now owns 30,328 shares in the company, valued at approximately $603,830.48. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 705,000 shares of company stock worth $14,007,550. Insiders own 13.95% of the company’s stock.
Kinder Morgan Company 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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