Praxis Investment Management Inc. Cuts Holdings in Kinder Morgan, Inc. $KMI

Key Points

• Praxis Investment Management Inc. reduced its stake in Kinder Morgan, Inc. by 29.8%, holding 145,730 shares valued at approximately $4.28 million after selling 61,750 shares in the second quarter.
• Wall Street analysts have varying opinions on Kinder Morgan, with ten analysts rating it as a Buy and setting an average price target of $31.13, indicating a potential for growth.
• Insider trading activity includes CFO David Patrick Michels selling 40,000 shares for over $1.12 million, leading to a 20.06% decrease in his position.

Praxis Investment Management Inc. lessened its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 29.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,730 shares of the pipeline company's stock after selling 61,750 shares during the period. Praxis Investment Management Inc.'s holdings in Kinder Morgan were worth $4,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KMI. Brighton Jones LLC purchased a new position in Kinder Morgan in the fourth quarter worth $308,000. GAMMA Investing LLC boosted its holdings in shares of Kinder Morgan by 9.3% in the 1st quarter. GAMMA Investing LLC now owns 35,186 shares of the pipeline company's stock worth $1,004,000 after purchasing an additional 3,003 shares in the last quarter. Mission Wealth Management LP purchased a new position in shares of Kinder Morgan in the 1st quarter worth about $239,000. Grove Bank & Trust boosted its stake in Kinder Morgan by 2,913.5% in the first quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company's stock worth $32,000 after buying an additional 1,078 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC boosted its stake in Kinder Morgan by 10.5% in the first quarter. Robertson Stephens Wealth Management LLC now owns 17,317 shares of the pipeline company's stock worth $494,000 after buying an additional 1,640 shares in the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Kinder Morgan in a research note on Wednesday, October 8th. BMO Capital Markets initiated coverage on shares of Kinder Morgan in a research report on Friday, September 19th. They set an "outperform" rating and a $32.00 price target for the company. Scotiabank cut their price target on shares of Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Friday, September 19th. Stifel Nicolaus increased their target price on Kinder Morgan from $28.00 to $29.00 and gave the company a "hold" rating in a report on Thursday, August 14th. Finally, Morgan Stanley set a $30.00 target price on Kinder Morgan in a report on Thursday, October 9th. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.13.

Kinder Morgan Trading Down 1.6%

NYSE KMI opened at $27.18 on Friday. Kinder Morgan, Inc. has a fifty-two week low of $23.94 and a fifty-two week high of $31.48. 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 stock has a 50 day simple moving average of $27.25 and a two-hundred day simple moving average of $27.42. The stock has a market cap of $60.40 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 3.25 and a beta of 0.78.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, hitting analysts' consensus estimates of $0.28. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%.The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the firm posted $0.26 earnings per share. The firm's revenue was up 13.2% on a year-over-year basis. On average, analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Insider Transactions at Kinder Morgan

In other news, CFO David Patrick Michels sold 40,000 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer directly owned 159,428 shares of the company's stock, valued at approximately $4,494,275.32. This trade represents a 20.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sital K. Mody sold 45,549 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $27.96, for a total transaction of $1,273,550.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,174 shares of company stock worth $3,727,678. 12.73% of the stock is owned by corporate insiders.

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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