Birmingham Capital Management Co. Inc. AL Sells 21,385 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Birmingham Capital Management Co. Inc. reduced its stake in Kinder Morgan, Inc. by 41.0%, selling 21,385 shares during the second quarter, leaving them with 30,778 shares valued at approximately $905,000.
• Several institutional investors increased their positions in Kinder Morgan, with Sierra Ocean LLC raising theirs by 927.1%, now holding 873 shares, and JNBA Financial Advisors boosting theirs by 669.2%.
• Analyst ratings for Kinder Morgan stock reflect a generally positive outlook, with ten analysts giving it a Buy rating and an average price target of $31.13, despite varying target price adjustments from firms like JPMorgan and Wells Fargo.

Birmingham Capital Management Co. Inc. AL decreased its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 41.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,778 shares of the pipeline company's stock after selling 21,385 shares during the period. Birmingham Capital Management Co. Inc. AL's holdings in Kinder Morgan were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMI. Sierra Ocean LLC increased its position in Kinder Morgan by 927.1% during the 1st quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 788 shares during the period. JNBA Financial Advisors boosted its stake in shares of Kinder Morgan by 669.2% in the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 870 shares during the last quarter. Cranbrook Wealth Management LLC increased its position in shares of Kinder Morgan by 116.1% during the second quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company's stock worth $31,000 after buying an additional 562 shares during the period. Wolff Wiese Magana LLC bought a new position in Kinder Morgan during the second quarter worth $34,000. Finally, Clearstead Trust LLC bought a new position in Kinder Morgan during the first quarter worth $40,000. 62.52% of the stock is owned by institutional investors and hedge funds.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock opened at $27.39 on Monday. The business has a 50-day simple moving average of $27.26 and a 200 day simple moving average of $27.40. Kinder Morgan, Inc. has a one year low of $23.94 and a one year high of $31.48. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53. The firm has a market capitalization of $60.86 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.22 and a beta of 0.78.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, 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 transaction of $1,127,600.00. Following the transaction, the chief financial officer owned 159,428 shares in the company, valued at approximately $4,494,275.32. This represents a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Amy W. Chronis acquired 2,759 shares of the company's stock in a transaction on Monday, July 28th. The stock was acquired at an average cost of $27.21 per share, for a total transaction of $75,072.39. Following the completion of the purchase, the director directly owned 34,764 shares of the company's stock, valued at approximately $945,928.44. This represents a 8.62% increase in their position. The disclosure for this purchase can be found here. Insiders sold 134,174 shares of company stock valued at $3,727,678 over the last three months. 12.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on KMI shares. JPMorgan Chase & Co. upped their price target on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Wells Fargo & Company boosted their price objective on Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Jefferies Financial Group began coverage on Kinder Morgan in a research note on Thursday, October 9th. They set a "hold" rating and a $30.00 target price for the company. Scotiabank lowered their target price on Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating for the company in a report on Friday, September 19th. Finally, Wolfe Research raised Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research note on Friday, July 25th. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.13.

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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