Chickasaw Capital Management LLC Invests $28.39 Million in Kinder Morgan Inc (KMI) Stock
Chickasaw Capital Management LLC bought a new position in shares of Kinder Morgan Inc (NYSE:KMI) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,846,140 shares of the pipeline company’s stock, valued at approximately $28,394,000. Kinder Morgan comprises approximately 0.8% of Chickasaw Capital Management LLC’s portfolio, making the stock its 23rd largest position.
A number of other institutional investors and hedge funds have also recently bought and sold shares of KMI. Arlington Partners LLC lifted its holdings in shares of Kinder Morgan by 83.6% in the 4th quarter. Arlington Partners LLC now owns 4,811 shares of the pipeline company’s stock valued at $74,000 after buying an additional 2,190 shares during the period. Welch Group LLC lifted its holdings in shares of Kinder Morgan by 6.9% in the 4th quarter. Welch Group LLC now owns 36,661 shares of the pipeline company’s stock valued at $564,000 after buying an additional 2,355 shares during the period. Spence Asset Management acquired a new stake in shares of Kinder Morgan in the 4th quarter valued at approximately $37,000. Griffin Asset Management Inc. lifted its holdings in shares of Kinder Morgan by 4.8% in the 2nd quarter. Griffin Asset Management Inc. now owns 62,625 shares of the pipeline company’s stock valued at $1,107,000 after buying an additional 2,867 shares during the period. Finally, Hoertkorn Richard Charles lifted its holdings in shares of Kinder Morgan by 0.8% in the 3rd quarter. Hoertkorn Richard Charles now owns 382,880 shares of the pipeline company’s stock valued at $6,788,000 after buying an additional 2,880 shares during the period. 61.51% of the stock is currently owned by hedge funds and other institutional investors.
KMI has been the subject of several recent analyst reports. Barclays set a $21.00 price target on Kinder Morgan and gave the company a “buy” rating in a report on Friday, October 12th. Goldman Sachs Group initiated coverage on Kinder Morgan in a report on Monday, October 8th. They issued a “conviction-buy” rating and a $24.00 price target for the company. Credit Suisse Group started coverage on Kinder Morgan in a report on Thursday, October 11th. They issued an “outperform” rating and a $23.00 price target for the company. Jefferies Financial Group raised Kinder Morgan from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Finally, Zacks Investment Research raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, October 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.94.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.57 billion. Kinder Morgan had a return on equity of 5.51% and a net margin of 0.78%. Kinder Morgan’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. On average, analysts forecast that Kinder Morgan Inc will post 0.88 EPS 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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