Envestnet Asset Management Inc. raised its stake in Kinder Morgan Inc (NYSE:KMI) by 16.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 792,173 shares of the pipeline company’s stock after acquiring an additional 114,435 shares during the period. Envestnet Asset Management Inc.’s holdings in Kinder Morgan were worth $15,851,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Founders Capital Management increased its holdings in Kinder Morgan by 224.9% in the 1st quarter. Founders Capital Management now owns 1,228 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 850 shares during the last quarter. Citizens Financial Group Inc RI grew its stake in shares of Kinder Morgan by 119.2% in the 1st quarter. Citizens Financial Group Inc RI now owns 1,256 shares of the pipeline company’s stock worth $25,000 after buying an additional 683 shares in the last quarter. Hanson McClain Inc. grew its stake in shares of Kinder Morgan by 606.6% in the 1st quarter. Hanson McClain Inc. now owns 1,505 shares of the pipeline company’s stock worth $30,000 after buying an additional 1,292 shares in the last quarter. Financial Gravity Wealth Inc. purchased a new position in shares of Kinder Morgan in the 1st quarter worth $30,000. Finally, Webster Bank N. A. purchased a new position in shares of Kinder Morgan in the 1st quarter worth $31,000. Institutional investors own 62.58% of the company’s stock.
In other news, Chairman Richard D. Kinder purchased 175,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was bought at an average price of $19.74 per share, for a total transaction of $3,454,500.00. Following the completion of the purchase, the chairman now directly owns 238,894,493 shares of the company’s stock, valued at $4,715,777,291.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Richard D. Kinder purchased 200,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average price of $19.89 per share, with a total value of $3,978,000.00. Following the purchase, the insider now directly owns 239,801,954 shares of the company’s stock, valued at $4,769,660,865.06. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,132,364 shares of company stock valued at $41,857,069. Insiders own 13.95% of the company’s stock.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, April 17th. The pipeline company reported $0.25 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.63 billion. Kinder Morgan had a net margin of 11.59% and a return on equity of 6.13%. Kinder Morgan’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. As a group, equities analysts anticipate that Kinder Morgan Inc will post 0.99 EPS for the current fiscal year.
A number of equities analysts have commented on the stock. Stifel Nicolaus cut shares of Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research note on Monday, June 17th. JPMorgan Chase & Co. cut shares of Kinder Morgan from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $21.00 to $22.00 in a research report on Friday, March 22nd. Zacks Investment Research lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Goldman Sachs Group lowered shares of Kinder Morgan from a “conviction-buy” rating to a “buy” rating and set a $23.00 price target on the stock. in a research note on Thursday, March 28th. Finally, Jefferies Financial Group downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating and increased their price target for the stock from $19.00 to $20.00 in a report on Monday, April 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.64.
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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