Russell Investments Group Ltd. Cuts Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Russell Investments Group Ltd. lessened its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 7.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,396,880 shares of the pipeline company’s stock after selling 200,484 shares during the period. Russell Investments Group Ltd. owned about 0.11% of Kinder Morgan worth $43,942,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KMI. True Wealth Design LLC raised its stake in shares of Kinder Morgan by 3,655.3% in the 4th quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 1,389 shares during the period. Altshuler Shaham Ltd purchased a new position in shares of Kinder Morgan in the 4th quarter valued at $26,000. Activest Wealth Management acquired a new stake in Kinder Morgan during the 4th quarter valued at $30,000. OFI Invest Asset Management acquired a new stake in Kinder Morgan during the 1st quarter valued at $31,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Kinder Morgan during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. UBS Group raised their price target on shares of Kinder Morgan from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Wells Fargo & Company raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $18.00 to $22.00 in a report on Tuesday, June 4th. Finally, Truist Financial reaffirmed a “hold” rating and set a $20.00 price target (down from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Kinder Morgan has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Activity

In other news, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the transaction, the vice president now directly owns 259,069 shares of the company’s stock, valued at approximately $5,116,612.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total value of $987,500.00. Following the sale, the vice president now directly owns 259,069 shares in the company, valued at approximately $5,116,612.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the completion of the sale, the director now owns 345,087 shares in the company, valued at $6,494,537.34. The disclosure for this sale can be found here. Company insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Up 0.9 %

KMI stock traded up $0.18 during mid-day trading on Wednesday, hitting $20.42. 5,517,841 shares of the company were exchanged, compared to its average volume of 13,626,121. Kinder Morgan, Inc. has a twelve month low of $15.89 and a twelve month high of $20.55. The firm has a fifty day simple moving average of $19.65 and a 200 day simple moving average of $18.43. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $45.32 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 3.18 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the business posted $0.30 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. On average, research analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share 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.