Kinder Morgan Inc (KMI) Position Cut by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its holdings in shares of Kinder Morgan Inc (NYSE:KMI) by 79.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 261,667 shares of the pipeline company’s stock after selling 998,384 shares during the quarter. Glenmede Trust Co. NA’s holdings in Kinder Morgan were worth $4,623,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of KMI. Griffin Asset Management Inc. increased its stake in Kinder Morgan by 4.8% in the 2nd quarter. Griffin Asset Management Inc. now owns 62,625 shares of the pipeline company’s stock worth $1,107,000 after acquiring an additional 2,867 shares during the last quarter. Meridian Management Co. increased its stake in Kinder Morgan by 2.4% in the 2nd quarter. Meridian Management Co. now owns 127,142 shares of the pipeline company’s stock worth $2,247,000 after acquiring an additional 2,925 shares during the last quarter. OLD National Bancorp IN increased its stake in Kinder Morgan by 15.1% in the 2nd quarter. OLD National Bancorp IN now owns 22,384 shares of the pipeline company’s stock worth $396,000 after acquiring an additional 2,930 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in Kinder Morgan by 1.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 220,048 shares of the pipeline company’s stock worth $3,888,000 after acquiring an additional 2,940 shares during the last quarter. Finally, Sigma Planning Corp increased its stake in Kinder Morgan by 10.1% in the 2nd quarter. Sigma Planning Corp now owns 32,486 shares of the pipeline company’s stock worth $574,000 after acquiring an additional 2,968 shares during the last quarter. 60.30% of the stock is currently owned by institutional investors.

In other Kinder Morgan news, Director William A. Smith acquired 5,556 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The stock was bought at an average price of $18.09 per share, for a total transaction of $100,508.04. Following the acquisition, 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 available through the SEC website. 14.16% of the stock is owned by insiders.

NYSE KMI opened at $17.88 on Wednesday. The company has a market cap of $39.47 billion, a PE ratio of 22.65, a P/E/G ratio of 2.53 and a beta of 0.70. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.41 and a current ratio of 0.49. Kinder Morgan Inc has a fifty-two week low of $14.69 and a fifty-two week high of $19.83.

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

A number of analysts have issued reports on the company. US Capital Advisors reaffirmed a “buy” rating on shares of Kinder Morgan in a research note on Tuesday, July 17th. Wells Fargo & Co raised Kinder Morgan from a “market perform” rating to a “buy” rating in a research note on Wednesday, June 20th. ValuEngine raised Kinder Morgan from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. Citigroup cut their target price on Kinder Morgan from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Finally, Morgan Stanley cut their target price on Kinder Morgan from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company’s stock. Kinder Morgan has a consensus rating of “Buy” and an average target price of $20.89.

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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