Wagner Bowman Management Corp reduced its stake in Kinder Morgan Inc. (NYSE:KMI) by 15.6% during the second quarter, Holdings Channel reports. The firm owned 13,141 shares of the company’s stock after selling 2,433 shares during the period. Wagner Bowman Management Corp’s holdings in Kinder Morgan were worth $246,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of KMI. Stelac Advisory Services LLC acquired a new position in Kinder Morgan during the first quarter valued at $110,000. Huntington Asset Advisors Inc. purchased a new stake in shares of Kinder Morgan during the first quarter valued at approximately $111,000. Financial Architects Inc increased its stake in shares of Kinder Morgan by 41.8% in the second quarter. Financial Architects Inc now owns 10,765 shares of the company’s stock valued at $201,000 after buying an additional 3,173 shares in the last quarter. LGL Partners LLC purchased a new stake in shares of Kinder Morgan during the first quarter valued at approximately $196,000. Finally, Cullinan Associates Inc. purchased a new stake in shares of Kinder Morgan during the second quarter valued at approximately $212,000. 54.61% of the stock is owned by hedge funds and other institutional investors.
Shares of Kinder Morgan Inc. (NYSE:KMI) traded up 1.19% during midday trading on Wednesday, reaching $22.14. 17,538,842 shares of the company’s stock were exchanged. Kinder Morgan Inc. has a one year low of $11.20 and a one year high of $32.89. The firm has a 50 day moving average of $21.62 and a 200-day moving average of $19.20. The stock has a market cap of $49.42 billion, a price-to-earnings ratio of 790.71 and a beta of 0.63.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, July 20th. The company reported $0.15 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.15. Kinder Morgan had a net margin of 1.63% and a return on equity of 4.82%. The business earned $3.14 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the firm earned $0.16 earnings per share. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, equities research analysts anticipate that Kinder Morgan Inc. will post $0.67 earnings per share for the current year.
KMI has been the subject of several research reports. Zacks Investment Research upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday. Vetr upgraded Kinder Morgan from a “buy” rating to a “strong-buy” rating and set a $24.78 target price for the company in a research note on Monday, September 12th. Deutsche Bank AG restated a “buy” rating on shares of Kinder Morgan in a research note on Wednesday, June 29th. Morgan Stanley upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $23.00 to $24.00 in a research note on Thursday, August 18th. Finally, TheStreet upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Wednesday, June 22nd. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $20.83.
About Kinder Morgan
Kinder Morgan, Inc (KMI) is an energy infrastructure company in North America. The Company segments include Natural Gas Pipelines, carbon dioxide (CO2), Terminals, Products Pipelines, Kinder Morgan Canada and Other. The Company’s Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.
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