Zurich Insurance Group Ltd FI acquired a new stake in Kinder Morgan Inc (NYSE:KMI) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 880,139 shares of the pipeline company’s stock, valued at approximately $18,377,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in KMI. Citizens Financial Group Inc RI increased 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 valued at $25,000 after purchasing an additional 683 shares during the last quarter. AlphaMark Advisors LLC increased its stake in shares of Kinder Morgan by 106.7% in the 1st 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 2nd quarter worth $32,000. Weaver Consulting Group bought a new stake in Kinder Morgan during the 1st quarter worth $33,000. Finally, Bartlett & Co. LLC bought a new stake in Kinder Morgan during the 2nd quarter worth $37,000. 61.74% of the stock is owned by hedge funds and other institutional investors.
In other Kinder Morgan news, insider Richard D. Kinder acquired 300,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were bought at an average cost of $19.76 per share, with a total value of $5,928,000.00. Following the purchase, the insider now directly owns 241,879,496 shares of the company’s stock, valued at $4,779,538,840.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deborah Macdonald acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $19.91 per share, for a total transaction of $99,550.00. Following the completion of the purchase, the director now directly owns 30,328 shares in the company, valued at $603,830.48. The disclosure for this purchase can be found here. Insiders bought a total of 705,000 shares of company stock worth $14,007,550 over the last three months. 13.95% of the stock is owned by company insiders.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.59 billion. Kinder Morgan had a net margin of 16.50% and a return on equity of 6.23%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. As a group, equities analysts predict that Kinder Morgan Inc will post 0.96 earnings per share for the current year.
A number of equities research analysts recently weighed in on KMI shares. Stifel Nicolaus lowered Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research report on Monday, June 17th. ValuEngine lowered Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Raymond James lowered Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 price objective on the stock. in a research report on Wednesday, June 26th. Argus lowered Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, BMO Capital Markets lowered Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 price objective on the stock. in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.91.
Kinder Morgan 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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