The Manufacturers Life Insurance Company Cuts Stake in Kinder Morgan Inc (NYSE:KMI)
The Manufacturers Life Insurance Company reduced its position in Kinder Morgan Inc (NYSE:KMI) by 55.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,686,369 shares of the pipeline company’s stock after selling 5,815,327 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.21% of Kinder Morgan worth $65,233,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KMI. PSI Advisors LLC purchased a new stake in shares of Kinder Morgan during the fourth quarter valued at $26,000. RMR Wealth Builders purchased a new position in shares of Kinder Morgan during the 4th quarter worth approximately $26,000. Red Door Wealth Management LLC purchased a new position in shares of Kinder Morgan during the 1st quarter worth approximately $26,000. Wealth Quarterback LLC purchased a new position in shares of Kinder Morgan during the 4th quarter worth approximately $27,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Kinder Morgan during the 1st quarter worth approximately $31,000. 61.59% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on KMI shares. SunTrust Banks reaffirmed a “buy” rating and set a $18.00 price objective on shares of Kinder Morgan in a research report on Thursday, April 23rd. Barclays raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a research report on Tuesday, March 24th. Mizuho lowered their price objective on shares of Kinder Morgan from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. TheStreet cut shares of Kinder Morgan from a “b-” rating to a “c+” rating in a research report on Tuesday, March 24th. Finally, Cfra reduced their target price on shares of Kinder Morgan from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Eleven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $19.21.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, April 22nd. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.03). Kinder Morgan had a return on equity of 6.24% and a net margin of 10.31%. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. On average, equities analysts expect that Kinder Morgan Inc will post 0.86 EPS for the current year.
In other Kinder Morgan news, Director William A. Smith acquired 6,500 shares of the stock in a transaction on Thursday, April 30th. The shares were bought at an average cost of $15.35 per share, with a total value of $99,775.00. Following the transaction, the director now owns 21,087 shares of the company’s stock, valued at approximately $323,685.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.19% of the company’s stock.
Kinder Morgan 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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