Allspring Global Investments Holdings LLC Lowers Stock Position in Kinder Morgan, Inc. $KMI

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Kinder Morgan, Inc. by 75.7%, now holding 92,936 shares worth approximately $2.63 million after selling 290,300 shares.
• Kinder Morgan has received mixed ratings from analysts, with ten analysts rating it a Buy and eight rating it a Hold, leading to a consensus rating of "Moderate Buy" and an average price target of $31.13.
• Insider activity at Kinder Morgan includes Director Amy W. Chronis purchasing 2,759 shares, increasing her holdings by 8.62%, while CFO David Patrick Michels sold 40,000 shares, representing a 20.06% decrease in his position.

Allspring Global Investments Holdings LLC reduced its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 75.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,936 shares of the pipeline company's stock after selling 290,300 shares during the period. Allspring Global Investments Holdings LLC's holdings in Kinder Morgan were worth $2,633,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in KMI. Almanack Investment Partners LLC. purchased a new position in Kinder Morgan in the 2nd quarter worth approximately $1,479,000. Orca Investment Management LLC lifted its holdings in Kinder Morgan by 1.4% in the 2nd quarter. Orca Investment Management LLC now owns 34,654 shares of the pipeline company's stock worth $1,019,000 after purchasing an additional 464 shares in the last quarter. CWM LLC lifted its holdings in Kinder Morgan by 2.0% in the 2nd quarter. CWM LLC now owns 384,487 shares of the pipeline company's stock worth $11,304,000 after purchasing an additional 7,716 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Kinder Morgan by 21.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 257,776 shares of the pipeline company's stock worth $7,579,000 after purchasing an additional 46,109 shares in the last quarter. Finally, Hobbs Group Advisors LLC lifted its holdings in Kinder Morgan by 32.7% in the 2nd quarter. Hobbs Group Advisors LLC now owns 48,448 shares of the pipeline company's stock worth $1,424,000 after purchasing an additional 11,948 shares in the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KMI has been the topic of a number of research analyst reports. Morgan Stanley set a $30.00 price target on Kinder Morgan in a report on Thursday, October 9th. TD Cowen started coverage on Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating and a $34.00 price target on the stock. Jefferies Financial Group started coverage on Kinder Morgan in a research note on Thursday, October 9th. They issued a "hold" rating and a $30.00 price objective on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Kinder Morgan in a research note on Wednesday, October 8th. Finally, BMO Capital Markets started coverage on Kinder Morgan in a research note on Friday, September 19th. They issued an "outperform" rating and a $32.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Kinder Morgan has a consensus rating of "Moderate Buy" and an average target price of $31.13.

Kinder Morgan Stock Performance

NYSE KMI opened at $27.49 on Wednesday. The company has a market cap of $61.09 billion, a P/E ratio of 22.54, a P/E/G ratio of 3.24 and a beta of 0.78. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. The business's 50 day moving average price is $27.29 and its 200-day moving average price is $27.41. Kinder Morgan, Inc. has a fifty-two week low of $23.94 and a fifty-two week high of $31.48.

Insider Activity

In other Kinder Morgan news, Director Amy W. Chronis acquired 2,759 shares of the business's stock in a transaction on Monday, July 28th. The shares were bought at an average price of $27.21 per share, with a total value of $75,072.39. Following the transaction, the director directly owned 34,764 shares of the company's stock, valued at $945,928.44. The trade was a 8.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David Patrick Michels sold 40,000 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $28.19, for a total value of $1,127,600.00. Following the completion of the transaction, the chief financial officer directly owned 159,428 shares in the company, valued at $4,494,275.32. This trade represents a 20.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,174 shares of company stock worth $3,727,678. Company insiders own 12.73% of the company's stock.

Kinder Morgan Profile

Kinder Morgan, Inc operates as an energy infrastructure company primarily 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 gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.

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