Kinder Morgan (KMI) Sees Significant Decline in Short Interest

Kinder Morgan (NYSE:KMI) saw a significant decline in short interest in the month of March. As of March 29th, there was short interest totalling 53,198,334 shares, a decline of 15.2% from the March 15th total of 62,758,890 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily trading volume, of 20,321,657 shares, the days-to-cover ratio is currently 2.6 days.

In related news, Director William A. Smith purchased 5,500 shares of Kinder Morgan stock in a transaction that occurred on Monday, January 22nd. The shares were bought at an average price of $19.52 per share, for a total transaction of $107,360.00. Following the completion of the transaction, the director now directly owns 14,587 shares of the company’s stock, valued at $284,738.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 14.16% of the stock is owned by insiders.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in shares of Kinder Morgan by 2.6% in the fourth quarter. Franklin Resources Inc. now owns 41,606,868 shares of the pipeline company’s stock worth $752,033,000 after buying an additional 1,044,432 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Kinder Morgan by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 19,319,338 shares of the pipeline company’s stock worth $348,322,000 after buying an additional 513,245 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Kinder Morgan by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 16,214,448 shares of the pipeline company’s stock worth $292,995,000 after buying an additional 800,229 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Kinder Morgan by 125.7% in the fourth quarter. Clearbridge Investments LLC now owns 12,648,613 shares of the pipeline company’s stock worth $228,560,000 after buying an additional 7,043,594 shares in the last quarter. Finally, Brookfield Asset Management Inc. lifted its stake in shares of Kinder Morgan by 8.4% in the fourth quarter. Brookfield Asset Management Inc. now owns 12,113,750 shares of the pipeline company’s stock worth $218,895,000 after buying an additional 935,700 shares in the last quarter. Hedge funds and other institutional investors own 62.60% of the company’s stock.

Several equities analysts recently issued reports on KMI shares. Credit Suisse Group started coverage on shares of Kinder Morgan in a research report on Thursday, January 4th. They set an “outperform” rating and a $23.00 price target on the stock. Zacks Investment Research cut shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Monday, January 8th. Bank of America started coverage on shares of Kinder Morgan in a research report on Tuesday, January 9th. They set a “neutral” rating on the stock. Wells Fargo restated a “market perform” rating on shares of Kinder Morgan in a report on Thursday, January 11th. Finally, Argus upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating in a report on Monday, January 29th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. Kinder Morgan has a consensus rating of “Buy” and an average price target of $22.07.

Shares of NYSE KMI opened at $15.33 on Monday. The company has a market capitalization of $33,841.07, a PE ratio of 23.23, a PEG ratio of 1.71 and a beta of 0.64. Kinder Morgan has a 52-week low of $14.69 and a 52-week high of $21.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.37 and a current ratio of 0.44.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, January 17th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.52 billion. Kinder Morgan had a net margin of 1.34% and a return on equity of 4.38%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. research analysts anticipate that Kinder Morgan will post 0.86 earnings per share for the current year.

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About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada 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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