Sanders Morris Harris LLC Cuts Stake in Kinder Morgan, Inc. $KMI

Key Points

• Sanders Morris Harris LLC cut its stake in Kinder Morgan, Inc. by 80.5% during Q2, leaving it with 8,479 shares valued at approximately $249,000.
• Several other institutional investors increased their holdings in Kinder Morgan, with Westwood Holdings Group Inc. raising its stake by 14.1% in Q1.
• Kinder Morgan has a current market cap of $61.21 billion and a consensus rating of "Moderate Buy," with a price target averaging $31.13.

Sanders Morris Harris LLC cut its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 80.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,479 shares of the pipeline company's stock after selling 35,093 shares during the quarter. Sanders Morris Harris LLC's holdings in Kinder Morgan were worth $249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westwood Holdings Group Inc. increased its position in shares of Kinder Morgan by 14.1% during the first quarter. Westwood Holdings Group Inc. now owns 6,442,093 shares of the pipeline company's stock worth $183,793,000 after acquiring an additional 794,388 shares during the last quarter. Burney Co. grew its stake in Kinder Morgan by 133.5% in the first quarter. Burney Co. now owns 442,044 shares of the pipeline company's stock worth $12,612,000 after purchasing an additional 252,736 shares in the last quarter. Aberdeen Group plc grew its stake in Kinder Morgan by 35.2% in the first quarter. Aberdeen Group plc now owns 2,343,165 shares of the pipeline company's stock worth $66,581,000 after purchasing an additional 609,748 shares in the last quarter. Eagle Global Advisors LLC grew its stake in Kinder Morgan by 15.6% in the first quarter. Eagle Global Advisors LLC now owns 1,016,490 shares of the pipeline company's stock worth $29,000,000 after purchasing an additional 137,030 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in Kinder Morgan in the first quarter worth about $6,814,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KMI has been the subject of a number of research reports. Cowen initiated coverage on Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating for the company. Barclays reiterated an "overweight" rating and issued a $32.00 price target (up from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. TD Cowen began coverage on Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating and a $34.00 price target for the company. Scotiabank decreased their target price on Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating for the company in a research note on Friday, September 19th. Finally, Wells Fargo & Company lifted their target price on Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Ten investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Kinder Morgan currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

Kinder Morgan Stock Performance

Shares of NYSE KMI opened at $27.55 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The stock has a 50 day simple moving average of $27.27 and a 200-day simple moving average of $27.41. The company has a market cap of $61.21 billion, a PE ratio of 22.58, a P/E/G ratio of 3.22 and a beta of 0.78. Kinder Morgan, Inc. has a 12-month low of $23.94 and a 12-month high of $31.48.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, EVP Dax Sanders sold 30,127 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.05, for a total value of $814,935.35. Following the completion of the sale, the executive vice president directly owned 292,000 shares in the company, valued at $7,898,600. This represents a 9.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO David Patrick Michels sold 40,000 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was 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 owned 159,428 shares of the company's stock, valued at $4,494,275.32. This trade represents a 20.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,174 shares of company stock valued at $3,727,678. 12.73% of the stock is currently owned by 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.

Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan, Inc. (NYSE:KMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.