Davis Capital Management Sells 6,265 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Davis Capital Management cut its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,894 shares of the pipeline company’s stock after selling 6,265 shares during the quarter. Kinder Morgan accounts for approximately 1.2% of Davis Capital Management’s holdings, making the stock its 22nd largest position. Davis Capital Management’s holdings in Kinder Morgan were worth $1,532,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KMI. American Century Companies Inc. grew its position in Kinder Morgan by 1.6% during the second quarter. American Century Companies Inc. now owns 346,183 shares of the pipeline company’s stock valued at $6,879,000 after buying an additional 5,402 shares during the period. Edgestream Partners L.P. bought a new stake in Kinder Morgan during the second quarter valued at approximately $213,000. Intech Investment Management LLC grew its position in Kinder Morgan by 102.1% during the second quarter. Intech Investment Management LLC now owns 98,945 shares of the pipeline company’s stock valued at $1,966,000 after buying an additional 49,991 shares during the period. Canada Pension Plan Investment Board grew its position in Kinder Morgan by 147.6% during the second quarter. Canada Pension Plan Investment Board now owns 352,845 shares of the pipeline company’s stock valued at $7,011,000 after buying an additional 210,341 shares during the period. Finally, AE Wealth Management LLC grew its position in Kinder Morgan by 9.3% during the second quarter. AE Wealth Management LLC now owns 46,888 shares of the pipeline company’s stock valued at $932,000 after buying an additional 4,003 shares during the period. 62.52% of the stock is owned by institutional investors.

Insider Activity at Kinder Morgan

In related news, Director Amy W. Chronis acquired 2,241 shares of the stock in a transaction on Tuesday, November 5th. The stock was bought at an average cost of $24.89 per share, with a total value of $55,778.49. Following the transaction, the director now directly owns 23,995 shares in the company, valued at approximately $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Thomas A. Martin sold 19,121 shares of the business’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 sale, the president now directly owns 897,652 shares of the company’s stock, valued at approximately $23,590,294.56. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,121 shares of company stock worth $1,497,000. Insiders own 12.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KMI. The Goldman Sachs Group boosted their target price on shares of Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their price target on shares of Kinder Morgan from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Bank of America initiated coverage on shares of Kinder Morgan in a report on Thursday, October 17th. They set a “buy” rating and a $27.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. Finally, Scotiabank assumed coverage on shares of Kinder Morgan in a report on Friday, January 10th. They set a “sector perform” rating and a $26.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Kinder Morgan presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Kinder Morgan Stock Performance

Kinder Morgan stock opened at $31.20 on Wednesday. The company has a market cap of $69.31 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 3.97 and a beta of 0.94. Kinder Morgan, Inc. has a twelve month low of $16.47 and a twelve month high of $31.48. The company’s 50-day moving average price is $27.74 and its 200-day moving average price is $24.20. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95.

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.