Contravisory Investment Management Inc. Takes $304,000 Position in Kinder Morgan, Inc. (NYSE:KMI)

Contravisory Investment Management Inc. acquired a new position in Kinder Morgan, Inc. (NYSE:KMI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,097 shares of the pipeline company’s stock, valued at approximately $304,000.

A number of other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in shares of Kinder Morgan by 1.6% in the 2nd quarter. American Century Companies Inc. now owns 346,183 shares of the pipeline company’s stock worth $6,879,000 after purchasing an additional 5,402 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of Kinder Morgan by 2.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 88,969 shares of the pipeline company’s stock valued at $1,768,000 after acquiring an additional 2,356 shares during the period. Edgestream Partners L.P. bought a new position in Kinder Morgan in the 2nd quarter worth $213,000. Vanguard Personalized Indexing Management LLC increased its position in Kinder Morgan by 43.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 151,021 shares of the pipeline company’s stock worth $2,989,000 after buying an additional 45,482 shares in the last quarter. Finally, WCG Wealth Advisors LLC purchased a new stake in Kinder Morgan in the 2nd quarter worth approximately $295,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insiders Place Their Bets

In other Kinder Morgan news, President Thomas A. Martin sold 19,121 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total transaction of $502,499.88. Following the completion of the transaction, the president now directly owns 897,652 shares in the company, valued at approximately $23,590,294.56. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $24.75, for a total value of $17,081,014.50. Following the completion of the transaction, the director now directly owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 745,263 shares of company stock valued at $18,578,014. 12.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KMI shares. UBS Group lifted their target price on Kinder Morgan from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Bank of America began coverage on Kinder Morgan in a report on Thursday, October 17th. They set a “buy” rating and a $27.00 price target on the stock. Truist Financial raised their price objective on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Barclays boosted their target price on shares of Kinder Morgan from $27.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Royal Bank of Canada raised their price objective on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $30.01 on Friday. Kinder Morgan, Inc. has a 52 week low of $16.47 and a 52 week high of $30.07. The firm has a 50 day moving average of $27.54 and a two-hundred day moving average of $23.95. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $66.67 billion, a PE ratio of 26.32, a P/E/G ratio of 3.71 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The business’s revenue was down 5.3% on a year-over-year basis. On average, research analysts predict that Kinder Morgan, Inc. will post 1.17 EPS for the current fiscal year.

Kinder Morgan Profile

Kinder Morgan, Inc operates as an energy infrastructure company primarily 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 gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.