Viking Fund Management LLC Sells 285,000 Shares of Kinder Morgan Inc. (KMI)
Viking Fund Management LLC decreased its position in Kinder Morgan Inc. (NYSE:KMI) by 18.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,220,000 shares of the company’s stock after selling 285,000 shares during the period. Kinder Morgan accounts for 4.6% of Viking Fund Management LLC’s holdings, making the stock its 2nd largest position. Viking Fund Management LLC owned about 0.05% of Kinder Morgan worth $28,219,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. Stockman Asset Management increased its position in Kinder Morgan by 0.5% in the first quarter. Stockman Asset Management now owns 14,525 shares of the company’s stock worth $259,000 after buying an additional 76 shares in the last quarter. Fairfield Bush & CO. increased its position in Kinder Morgan by 0.3% in the second quarter. Fairfield Bush & CO. now owns 31,950 shares of the company’s stock worth $598,000 after buying an additional 80 shares in the last quarter. Ngam Advisors L.P. increased its position in Kinder Morgan by 0.7% in the second quarter. Ngam Advisors L.P. now owns 27,744 shares of the company’s stock worth $519,000 after buying an additional 184 shares in the last quarter. CapWealth Advisors LLC increased its position in Kinder Morgan by 1.5% in the second quarter. CapWealth Advisors LLC now owns 16,134 shares of the company’s stock worth $302,000 after buying an additional 243 shares in the last quarter. Finally, Ronna Sue Cohen increased its position in Kinder Morgan by 0.5% in the third quarter. Ronna Sue Cohen now owns 52,817 shares of the company’s stock worth $1,222,000 after buying an additional 256 shares in the last quarter. 54.61% of the stock is currently owned by institutional investors and hedge funds.
Kinder Morgan Inc. (NYSE:KMI) traded down 0.0679% during trading on Thursday, reaching $20.7359. 11,527,933 shares of the company’s stock traded hands. The firm has a 50 day moving average of $21.98 and a 200 day moving average of $19.59. Kinder Morgan Inc. has a 1-year low of $11.20 and a 1-year high of $32.79. The firm has a market capitalization of $46.29 billion, a PE ratio of 740.5679 and a beta of 0.69.
Kinder Morgan (NYSE:KMI) last posted its quarterly 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. The firm earned $3.14 billion during the quarter, compared to the consensus estimate of $3.45 billion. Kinder Morgan had a return on equity of 4.82% and a net margin of 1.63%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same period last year, the company earned $0.16 earnings per share. Equities analysts forecast that Kinder Morgan Inc. will post $0.67 EPS for the current year.
A number of equities analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $23.00 to $24.00 in a research note on Thursday, August 18th. Vetr raised shares of Kinder Morgan from a “strong sell” rating to a “sell” rating and set a $19.80 price target for the company in a report on Monday, July 18th. TheStreet raised shares of Kinder Morgan from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. Jefferies Group reaffirmed a “hold” rating and issued a $17.00 price target on shares of Kinder Morgan in a report on Thursday, July 21st. Finally, Stifel Nicolaus cut shares of Kinder Morgan from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a report on Tuesday, October 4th. Thirteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Kinder Morgan presently has an average rating of “Hold” and an average target price of $21.35.
Kinder Morgan Company Profile
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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