Kinder Morgan Inc (NYSE:KMI) Short Interest Up 19.3% in August

Kinder Morgan Inc (NYSE:KMI) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 23,860,000 shares, a growth of 19.3% from the August 15th total of 20,000,000 shares. Based on an average daily trading volume, of 12,760,000 shares, the short-interest ratio is presently 1.9 days. Approximately 1.2% of the shares of the stock are sold short.

A number of research analysts have recently weighed in on the company. Goldman Sachs Group lowered Kinder Morgan from a “neutral” rating to a “sell” rating and cut their price objective for the company from $16.00 to $15.00 in a research report on Monday, July 6th. Stifel Nicolaus lowered their price target on shares of Kinder Morgan from $19.00 to $18.00 and set a “buy” rating for the company in a report on Monday, August 10th. Citigroup lowered their price target on shares of Kinder Morgan from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, May 20th. ValuEngine downgraded shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Kinder Morgan from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $18.06.

KMI stock traded up $0.44 during trading on Wednesday, hitting $13.35. 15,582,224 shares of the company’s stock traded hands, compared to its average volume of 15,737,731. The firm has a market capitalization of $30.22 billion, a P/E ratio of 190.74, a PEG ratio of 4.88 and a beta of 0.97. The business has a fifty day simple moving average of $13.94 and a two-hundred day simple moving average of $14.85. The company has a quick ratio of 0.41, a current ratio of 0.48 and a debt-to-equity ratio of 0.98. Kinder Morgan has a 1 year low of $9.42 and a 1 year high of $22.58.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, July 22nd. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The company had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.91 billion. Kinder Morgan had a net margin of 1.41% and a return on equity of 6.02%. During the same period last year, the company posted $0.22 earnings per share. On average, equities research analysts predict that Kinder Morgan will post 0.88 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 3rd were issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a yield of 7.87%. The ex-dividend date was Friday, July 31st. Kinder Morgan’s dividend payout ratio is currently 110.53%.

In other news, Director William A. Smith acquired 7,000 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was purchased at an average price of $13.96 per share, for a total transaction of $97,720.00. Following the completion of the transaction, the director now directly owns 28,087 shares in the company, valued at approximately $392,094.52. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Perry M. Waughtal sold 59,593 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $13.97, for a total value of $832,514.21. Following the transaction, the director now owns 299,293 shares of the company’s stock, valued at approximately $4,181,123.21. The disclosure for this sale can be found here. Insiders acquired a total of 680,233 shares of company stock valued at $9,598,573 in the last quarter. 14.19% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CX Institutional grew its holdings in Kinder Morgan by 444.6% in the second quarter. CX Institutional now owns 1,661 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 1,356 shares during the last quarter. Truehand Inc purchased a new position in Kinder Morgan in the second quarter worth $27,000. Larson Financial Group LLC grew its holdings in Kinder Morgan by 161.0% in the second quarter. Larson Financial Group LLC now owns 1,845 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,138 shares during the last quarter. Proffitt & Goodson Inc. purchased a new position in Kinder Morgan in the second quarter worth $28,000. Finally, Rockbridge Investment Management LCC purchased a new position in Kinder Morgan in the second quarter worth $29,000. 60.63% of the stock is currently owned by institutional investors and hedge funds.

About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 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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