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 2.33% to 143.04 million shares with purchase of 3.25 million shares. This fresh investment now brings its stake to 6.36% valued currently at $2.59 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.21 million to 110.34 million shares. And Geode Capital Management LLC has lifted its position by 0.41% or 0.16 million shares – to 38.83 million shares.
With over 17.35 million Kinder Morgan Inc. (KMI) shares trading Friday and a closing price of $18.42 on the day, the dollar volume was approximately $319.57 million. The shares have shown a negative half year performance of -3.21% and its price on 11/18/22 gained nearly 0.66%. Currently, there are 2.25B common shares owned by the public and among those 1.96B shares have been available to trade.
Insiders at the company have transacted a total of 44 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 564,689 shares. Insider sales of the common stock occurred on 26 occasions, with total insider shares sold totaling 905,421 shares.
The top 3 mutual fund holders in Kinder Morgan Inc. are SPDR Series – Energy Select Secto, Vanguard Total Stock Market Index, and Vanguard 500 Index Fund. SPDR Series – Energy Select Secto owns 57.99 million shares of the company’s stock, all valued at over $1.05 billion. The company bought an additional 6095.0 shares recently to bring their total holdings to about 2.58% of the shares outstanding. Vanguard Total Stock Market Index bought 0.14 million shares to see its total holdings expand to 57.23 million shares valued at over $1.04 billion and representing 2.55% of the shares outstanding. Vanguard 500 Index Fund bought 0.44 million shares to bring its total holdings to over 45.36 million shares at a value of $821.96 million. Vanguard 500 Index Fund now owns shares totaling to 2.02% of the shares outstanding.
Shares of Kinder Morgan Inc. (NYSE: KMI) opened at $18.19, down -$0.11 from a prior closing price of $18.30. The company’s stock has a 5-day price change of -1.44% and -0.75% over the past three months. KMI shares are trading 16.14% year to date (YTD), with the 12-month market performance up to 13.14% higher. It has a 12-month low price of $15.01 and touched a high of $20.20 over the same period. KMI has an average intraday trading volume of 18.71 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 1.99%, 4.11%, and 1.95% respectively.
Institutional ownership of Kinder Morgan Inc. (NYSE: KMI) shares accounts for 63.10% of the company’s 2.25B shares outstanding. Mutual fund holders own 31.38%, while other institutional holders and individual stakeholders account for 31.58% and 15.56% respectively.
It has a market capitalization of $41.13B and a beta (3y monthly) value of 0.93. The stock’s trailing 12-month PE ratio is 16.67, while the earnings-per-share (ttm) stands at $1.10. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.80% over the week and 2.30% over the month.
Analysts forecast that Kinder Morgan Inc. (KMI) will achieve an EPS of $0.31 for the current quarter, $0.31 for the next quarter and $1.14 for 2023. The lowest estimate earnings-per-share for the quarter is $0.29 while analysts give the company a high EPS estimate of $0.36. Comparatively, EPS for the current quarter was $0.27 a year ago. Earnings per share for the fiscal year are expected to decrease by -12.10%, and -1.73% over the next financial year. EPS should shrink at an annualized rate of -3.22% over the next five years, compared to 25.80% over the past 5-year period.
Looking at the support for the KMI, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on September 08, 2022, with the firm’s price target at $19. Truist coverage for the Kinder Morgan Inc. (KMI) stock in a research note released on May 02, 2022 offered a Buy rating with a price target of $22. Wells Fargo was of a view on April 28, 2022 that the stock is Equal Weight, while Wolfe Research gave the stock Underperform rating on April 11, 2022, issuing a price target of $18. Wolfe Research on their part issued Peer Perform rating on January 10, 2022.