Benson Investment Management Company Inc. cut its position in shares of Kinder Morgan Inc (NYSE:KMI) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 158,975 shares of the pipeline company’s stock after selling 5,330 shares during the quarter. Kinder Morgan accounts for 2.4% of Benson Investment Management Company Inc.’s investment portfolio, making the stock its 23rd biggest holding. Benson Investment Management Company Inc.’s holdings in Kinder Morgan were worth $3,276,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Centaurus Financial Inc. raised its holdings in Kinder Morgan by 866.1% during the first quarter. Centaurus Financial Inc. now owns 1,082 shares of the pipeline company’s stock worth $54,000 after purchasing an additional 970 shares during the last quarter. SRS Capital Advisors Inc. acquired a new position in Kinder Morgan during the second quarter worth $32,000. Weaver Consulting Group acquired a new position in Kinder Morgan during the first quarter worth $33,000. River & Mercantile Asset Management LLP acquired a new position in Kinder Morgan during the second quarter worth $33,000. Finally, Bartlett & Co. LLC acquired a new position in Kinder Morgan during the second quarter worth $37,000. 61.76% of the stock is owned by hedge funds and other institutional investors.
KMI has been the subject of several research reports. SunTrust Banks reduced their price objective on Kinder Morgan from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday. ValuEngine cut Kinder Morgan from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Wolfe Research raised Kinder Morgan from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 22nd. Zacks Investment Research reaffirmed a “buy” rating and set a $23.00 price objective on shares of Kinder Morgan in a report on Saturday, June 29th. Finally, BMO Capital Markets cut Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $22.11.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.02). Kinder Morgan had a return on equity of 6.23% and a net margin of 16.50%. The company had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period last year, the firm earned $0.21 earnings per share. The business’s revenue was down 8.6% compared to the same quarter last year. As a group, analysts anticipate that Kinder Morgan Inc will post 0.96 EPS for the current year.
In other news, VP Dax Sanders sold 71,944 shares of Kinder Morgan stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $20.05, for a total value of $1,442,477.20. Following the completion of the sale, the vice president now owns 204,605 shares of the company’s stock, valued at $4,102,330.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard D. Kinder acquired 400,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $19.95 per share, with a total value of $7,980,000.00. Following the transaction, the insider now owns 241,579,496 shares of the company’s stock, valued at $4,819,510,945.20. The disclosure for this purchase can be found here. Over the last three months, insiders bought 705,000 shares of company stock valued at $14,007,550. Insiders own 13.95% of the company’s stock.
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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