Livingston Group Asset Management CO operating as Southport Capital Management trimmed its position in shares of Kinder Morgan Inc (NYSE:KMI) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,984 shares of the pipeline company’s stock after selling 6,585 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Kinder Morgan were worth $1,460,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. grace capital acquired a new position in shares of Kinder Morgan in the third quarter valued at approximately $31,000. River & Mercantile Asset Management LLP acquired a new stake in shares of Kinder Morgan during the second quarter worth $33,000. Citizens Financial Group Inc RI boosted its holdings in shares of Kinder Morgan by 35.4% during the third quarter. Citizens Financial Group Inc RI now owns 1,923 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 503 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Kinder Morgan by 106.5% during the third quarter. Golden State Wealth Management LLC now owns 1,929 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 995 shares during the last quarter. Finally, Atwater Malick LLC purchased a new stake in shares of Kinder Morgan in the third quarter valued at $40,000. Institutional investors own 62.15% of the company’s stock.
In other news, Chairman Richard D. Kinder acquired 300,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was bought at an average price of $20.17 per share, with a total value of $6,051,000.00. Following the completion of the transaction, the chairman now directly owns 242,179,496 shares of the company’s stock, valued at $4,884,760,434.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fayez Sarofim acquired 200,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was purchased at an average cost of $20.10 per share, with a total value of $4,020,000.00. Following the transaction, the director now directly owns 29,373,127 shares of the company’s stock, valued at $590,399,852.70. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 1,459,624 shares of company stock valued at $29,187,827. 13.95% of the stock is owned by insiders.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.02). Kinder Morgan had a return on equity of 6.25% and a net margin of 15.21%. The company had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the company earned $0.21 earnings per share. The company’s revenue was down 8.6% on a year-over-year basis. Analysts expect that Kinder Morgan Inc will post 0.96 earnings per share for the current year.
KMI has been the subject of several analyst reports. Piper Jaffray Companies assumed coverage on Kinder Morgan in a research note on Wednesday, December 18th. They issued a “neutral” rating and a $23.00 target price for the company. TD Securities assumed coverage on shares of Kinder Morgan in a research note on Wednesday, October 2nd. They set a “buy” rating and a $25.00 price objective for the company. Goldman Sachs Group lowered shares of Kinder Morgan from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Thursday, October 24th. Barclays lowered shares of Kinder Morgan from an “overweight” rating to an “equal weight” rating and set a $23.00 price objective on the stock. in a report on Tuesday. Finally, Citigroup lowered shares of Kinder Morgan from a “buy” rating to a “neutral” rating in a report on Monday, January 6th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.92.
About Kinder Morgan
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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