Bank of Nova Scotia Sells 33,531 Shares of Kinder Morgan Inc (KMI)

Bank of Nova Scotia cut its holdings in Kinder Morgan Inc (NYSE:KMI) by 13.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 212,193 shares of the pipeline company’s stock after selling 33,531 shares during the period. Bank of Nova Scotia’s holdings in Kinder Morgan were worth $3,750,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of KMI. Flagship Harbor Advisors LLC bought a new position in shares of Kinder Morgan during the second quarter valued at about $110,000. Ostrum Asset Management bought a new position in shares of Kinder Morgan during the first quarter valued at about $121,000. Landaas & Co. WI ADV bought a new position in shares of Kinder Morgan during the second quarter valued at about $133,000. Mount Yale Investment Advisors LLC bought a new position in shares of Kinder Morgan during the first quarter valued at about $144,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Kinder Morgan by 100.0% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 10,000 shares of the pipeline company’s stock valued at $177,000 after acquiring an additional 5,000 shares during the last quarter. 60.29% of the stock is owned by institutional investors and hedge funds.

In related news, Director William A. Smith purchased 5,556 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The stock was bought at an average cost of $18.09 per share, with a total value of $100,508.04. Following the completion of the purchase, the director now directly owns 14,587 shares in the company, valued at $263,878.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.16% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on KMI shares. Morgan Stanley lowered their price objective on shares of Kinder Morgan from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, May 30th. Wells Fargo & Co raised shares of Kinder Morgan from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 13th. Raymond James raised shares of Kinder Morgan from a “market perform” rating to an “outperform” rating in a research note on Monday, June 18th. ValuEngine raised shares of Kinder Morgan from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 21st. Finally, Sanford C. Bernstein raised shares of Kinder Morgan from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company. Kinder Morgan presently has a consensus rating of “Buy” and a consensus target price of $20.89.

KMI stock opened at $18.06 on Monday. Kinder Morgan Inc has a 1 year low of $14.69 and a 1 year high of $19.83. The stock has a market capitalization of $39.84 billion, a P/E ratio of 27.36, a P/E/G ratio of 2.55 and a beta of 0.70. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.03.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, July 18th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. Kinder Morgan had a negative net margin of 1.82% and a positive return on equity of 5.07%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. Kinder Morgan’s revenue was up 1.8% on a year-over-year basis. equities analysts anticipate that Kinder Morgan Inc will post 0.83 earnings per share for the current fiscal year.

Kinder Morgan Company Profile

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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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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