BLB&B Advisors LLC Trims Stake in Kinder Morgan Inc (KMI)
BLB&B Advisors LLC trimmed its stake in shares of Kinder Morgan Inc (NYSE:KMI) by 5.0% in the third quarter, HoldingsChannel.com reports. The fund owned 101,191 shares of the pipeline company’s stock after selling 5,303 shares during the period. BLB&B Advisors LLC’s holdings in Kinder Morgan were worth $1,794,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of KMI. Flagship Harbor Advisors LLC purchased a new position in shares of Kinder Morgan during the 2nd quarter worth approximately $110,000. Ostrum Asset Management purchased a new position in shares of Kinder Morgan during the 1st quarter worth approximately $121,000. Landaas & Co. WI ADV purchased a new position in shares of Kinder Morgan during the 2nd quarter worth approximately $133,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Kinder Morgan during the 1st quarter worth approximately $144,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Kinder Morgan by 100.0% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 10,000 shares of the pipeline company’s stock worth $177,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 60.34% of the company’s stock.
A number of research analysts have recently weighed in on the stock. Barclays set a $21.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a research note on Friday. Credit Suisse Group assumed coverage on shares of Kinder Morgan in a research note on Thursday. They set an “outperform” rating and a $23.00 price objective for the company. Goldman Sachs Group assumed coverage on shares of Kinder Morgan in a research note on Monday, October 8th. They set a “conviction-buy” rating and a $24.00 price objective for the company. ValuEngine raised shares of Kinder Morgan from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. Finally, Stifel Nicolaus raised their price objective on shares of Kinder Morgan from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $20.81.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 18th. The pipeline company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Kinder Morgan had a negative net margin of 1.82% and a positive return on equity of 5.07%. Kinder Morgan’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS. As a group, sell-side analysts expect that Kinder Morgan Inc will post 0.83 EPS for the current year.
In other news, insider Richard D. Kinder bought 500,000 shares of the stock in a transaction on Thursday, September 27th. The stock was purchased at an average cost of $17.55 per share, with a total value of $8,775,000.00. Following the purchase, the insider now owns 235,212,353 shares of the company’s stock, valued at $4,127,976,795.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William A. Smith bought 5,556 shares of the stock in a transaction on Thursday, July 26th. The stock was purchased at an average cost of $18.09 per share, with a total value of $100,508.04. Following the completion of the purchase, the director now directly owns 14,587 shares in the company, valued at approximately $263,878.83. The disclosure for this purchase can be found here. 14.16% of the stock is currently owned by insiders.
Kinder Morgan Company Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada 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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