Country Trust Bank cut its stake in Kinder Morgan Inc (NYSE:KMI) by 5.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 961,773 shares of the pipeline company’s stock after selling 50,335 shares during the period. Country Trust Bank’s holdings in Kinder Morgan were worth $19,245,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of KMI. Mcrae Capital Management Inc. grew its position in Kinder Morgan by 14.6% during the 1st quarter. Mcrae Capital Management Inc. now owns 377,127 shares of the pipeline company’s stock worth $7,546,000 after acquiring an additional 48,138 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Kinder Morgan in the 1st quarter valued at about $1,438,000. Confluence Investment Management LLC grew its position in shares of Kinder Morgan by 0.8% in the 1st quarter. Confluence Investment Management LLC now owns 5,646,611 shares of the pipeline company’s stock valued at $112,989,000 after buying an additional 47,309 shares during the last quarter. Welch Group LLC grew its position in shares of Kinder Morgan by 18.7% in the 1st quarter. Welch Group LLC now owns 43,513 shares of the pipeline company’s stock valued at $871,000 after buying an additional 6,852 shares during the last quarter. Finally, Raymond James Trust N.A. grew its position in shares of Kinder Morgan by 4.1% in the 1st quarter. Raymond James Trust N.A. now owns 57,711 shares of the pipeline company’s stock valued at $1,155,000 after buying an additional 2,276 shares during the last quarter. 64.93% of the stock is owned by institutional investors.
In other news, insider Richard D. Kinder purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The shares were acquired at an average cost of $17.92 per share, with a total value of $896,000.00. Following the purchase, the insider now owns 235,262,353 shares in the company, valued at $4,215,901,365.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard D. Kinder purchased 100,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were purchased at an average cost of $18.05 per share, for a total transaction of $1,805,000.00. Following the completion of the purchase, the chairman now owns 235,427,613 shares in the company, valued at approximately $4,249,468,414.65. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,090,912 shares of company stock worth $58,877,514. 13.95% of the stock is owned by corporate insiders.
Shares of Kinder Morgan stock remained flat at $$19.81 on Wednesday. The company had a trading volume of 3,116,406 shares, compared to its average volume of 13,398,857. Kinder Morgan Inc has a 52 week low of $14.62 and a 52 week high of $20.44. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 0.98. The company has a market cap of $43.70 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 2.63 and a beta of 0.96.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, January 16th. The pipeline company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. Kinder Morgan had a return on equity of 5.86% and a net margin of 11.38%. The company had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts predict that Kinder Morgan Inc will post 1 earnings per share for the current fiscal year.
A number of equities research analysts have commented on KMI shares. Jefferies Financial Group upgraded Kinder Morgan from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. TheStreet upgraded Kinder Morgan from a “c” rating to a “b-” rating in a research report on Wednesday, January 16th. Argus reiterated a “buy” rating and issued a $23.00 price target on shares of Kinder Morgan in a research report on Tuesday, January 22nd. ValuEngine upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Evercore ISI started coverage on Kinder Morgan in a research report on Tuesday, February 5th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $21.32.
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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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