SSgA Funds Management, Inc. recently announced the acquisition of new stake in Kinder Morgan Inc. (NYSE:KMI). The institutional investor has increased its shareholding in the Energy company by 6.56% to 111.88 million shares with purchase of 6.88 million shares. This fresh investment now brings its stake to 4.94% valued currently at $1.58 billion. In addition, BlackRock Fund Advisors raised its holdings by 1.98 million to 98.99 million shares. And Managed Account Advisors LLC has lifted its position by 23.91% or 8.26 million shares – to 42.84 million shares.
With over 11.94 million Kinder Morgan Inc. (KMI) shares trading Monday and a closing price of $13.82 on the day, the dollar volume was approximately $165.0 million. The shares have shown a negative weekly performance of -2.95% and its price on 08/31/20 lost nearly -2.54%. Currently, there are 2.26B common shares owned by the public and among those 1.95B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 24 analysts who have offered their price forecasts for KMI have a consensus price objective of $17.64. The analysts have set the share’s price value over the next 12 months at a high of $23.00 and a low of $14.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Kinder Morgan Inc. stock is 2.30 for the next 12 months. The average price target is 21.83% above its last price level and an upside to the estimated low will see the stock gain 1.29% over that period. But an upside of 39.91% will see the stock hit the forecast high price target while mean target price for the stock is $17.00.
Insiders at the company have transacted a total of 46 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 4,296,521 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 1,208,668 shares.
The top 3 mutual fund holders in Kinder Morgan Inc. are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and SPDR Series – Energy Select Secto. Vanguard Total Stock Market Index owns 54.7 million shares of the company’s stock, all valued at over $771.3 million. The company sold 43039.0 shares recently to bring their total holdings to about 2.42% of the shares outstanding. Vanguard 500 Index Fund sold -0.24 million shares to see its total holdings shrink to 40.11 million shares valued at over $565.53 million and representing 1.77% of the shares outstanding. SPDR Series – Energy Select Secto bought 0.22 million shares to bring its total holdings to over 31.88 million shares at a value of $449.54 million. SPDR Series – Energy Select Secto now owns shares totaling to 1.41% of the shares outstanding.
Shares of Kinder Morgan Inc. (NYSE: KMI) opened at $14.17, down -$0.01 from a prior closing price of $14.18. However, the script later closed the day at $13.82, down -2.54%. The company’s stock has a 5-day price change of -2.95% and -12.97% over the past three months. KMI shares are trading -34.72% year to date (YTD), with the 12-month market performance down to -31.82% lower. It has a 12-month low price of $9.42 and touched a high of $22.58 over the same period. Currently, 11.94 million shares have been traded, compared to an average intraday trading volume of 12.86 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.91%, -4.82%, and -18.98% respectively.
Institutional ownership of Kinder Morgan Inc. (NYSE: KMI) shares accounts for 63.20% of the company’s 2.26B shares outstanding. Mutual fund holders own 29.38%, while other institutional holders and individual stakeholders account for 33.50% and 15.42% respectively.
It has a market capitalization of $30.58B and a beta (3y monthly) value of 0.95. The stock’s trailing 12-month PE ratio is 197.43, while the earnings-per-share (ttm) stands at $0.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.48% over the week and 2.31% over the month.
Analysts forecast that Kinder Morgan Inc. (KMI) will achieve an EPS of $0.21 for the current quarter, $0.24 for the next quarter and $0.94 for 2021. The lowest estimate earnings-per-share for the quarter is $0.18 while analysts give the company a high EPS estimate of $0.32. Comparatively, EPS for the current quarter was $0.22 a year ago. Earnings per share for the fiscal year are expected to increase by 44.70%, and 20.31% over the next financial year. EPS should shrink at an annualized rate of -0.60% over the next five years, compared to 1.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 24 brokerage firm advisors rate Kinder Morgan Inc. (KMI) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 12 Wall Street analysts polled rate the stock as a buy, while 9 of the 24 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the KMI, a number of firms have released research notes about the stock. Goldman stated their Sell rating for the stock in a research note on July 07, 2020, with the firm’s price target at $16-$15. Barclays coverage for the Kinder Morgan Inc. (KMI) stock in a research note released on March 24, 2020 offered a Overweight rating with a price target of $16. Stifel was of a view on March 16, 2020 that the stock is Buy, while Morgan Stanley gave the stock Equal-Weight rating on March 16, 2020, issuing a price target of $14. Raymond James on their part issued Outperform rating on March 12, 2020.