Short Interest in Kinder Morgan Inc. (KMI) Expands By 14.3%
Kinder Morgan Inc. (NYSE:KMI) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 27,276,645 shares, an increase of 14.3% from the October 14th total of 23,860,785 shares. Based on an average trading volume of 19,114,082 shares, the days-to-cover ratio is presently 1.4 days. Approximately 1.4% of the shares of the stock are short sold.
Shares of Kinder Morgan (NYSE:KMI) opened at 21.38 on Friday. The stock’s market capitalization is $47.73 billion. The firm’s 50-day moving average price is $21.11 and its 200-day moving average price is $20.09. Kinder Morgan has a one year low of $11.20 and a one year high of $24.62.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 19th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.25. Kinder Morgan had a positive return on equity of 4.69% and a negative net margin of 1.13%. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the company earned $0.08 EPS. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities research analysts anticipate that Kinder Morgan will post $0.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Friday, October 28th. Kinder Morgan’s dividend payout ratio (DPR) is currently -416.67%.
In other news, Director Fayez Sarofim bought 700,000 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were acquired at an average price of $21.41 per share, for a total transaction of $14,987,000.00. Following the completion of the transaction, the director now directly owns 29,142,387 shares in the company, valued at approximately $623,938,505.67. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 13.97% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of KMI. Vanguard Group Inc. raised its position in shares of Kinder Morgan by 2.2% in the second quarter. Vanguard Group Inc. now owns 123,812,360 shares of the company’s stock valued at $2,317,767,000 after buying an additional 2,665,546 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Kinder Morgan by 3.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 50,141,308 shares of the company’s stock valued at $1,159,768,000 after buying an additional 1,848,131 shares during the period. Northern Trust Corp raised its position in shares of Kinder Morgan by 5.0% in the third quarter. Northern Trust Corp now owns 21,666,152 shares of the company’s stock valued at $501,139,000 after buying an additional 1,040,842 shares during the period. BlackRock Group LTD raised its position in shares of Kinder Morgan by 2.7% in the third quarter. BlackRock Group LTD now owns 15,291,474 shares of the company’s stock valued at $353,691,000 after buying an additional 406,103 shares during the period. Finally, Cohen & Steers Inc. raised its position in shares of Kinder Morgan by 247.5% in the second quarter. Cohen & Steers Inc. now owns 14,915,734 shares of the company’s stock valued at $336,051,000 after buying an additional 10,623,045 shares during the period. 54.72% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the company. Morgan Stanley set a $24.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, October 20th. Stifel Nicolaus downgraded Kinder Morgan from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, October 4th. Vetr upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $22.41 price objective on the stock in a research report on Thursday, August 25th. Goldman Sachs Group Inc. set a $24.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, October 20th. Finally, Credit Suisse Group AG upgraded Kinder Morgan from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $23.00 to $26.00 in a research report on Thursday, October 20th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $22.32.
About Kinder Morgan
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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