Spirit of America Management Corp NY Has $8.34 Million Stock Position in Kinder Morgan, Inc. $KMI

Key Points

• Spirit of America Management Corp NY has decreased its stake in Kinder Morgan by 24.6%, resulting in ownership of 283,744 shares, valued at approximately $8.34 million.
• Several large investors have significantly increased their stakes in Kinder Morgan, including Sierra Ocean LLC, which raised its stake by 927.1%.
• Kinder Morgan reported earnings of $0.28 per share for the last quarter, meeting analysts' expectations and showing a 13.2% increase in revenue compared to the previous year.

Spirit of America Management Corp NY reduced its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 24.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 283,744 shares of the pipeline company's stock after selling 92,500 shares during the period. Kinder Morgan comprises 1.7% of Spirit of America Management Corp NY's investment portfolio, making the stock its 6th biggest position. Spirit of America Management Corp NY's holdings in Kinder Morgan were worth $8,342,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of KMI. Sierra Ocean LLC lifted its stake in Kinder Morgan by 927.1% in the first 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 last quarter. JNBA Financial Advisors lifted its stake in Kinder Morgan by 669.2% in the first 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 lifted its stake in Kinder Morgan by 116.1% in the second quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 562 shares during the last quarter. Wolff Wiese Magana LLC purchased a new position in Kinder Morgan in the second quarter valued at approximately $34,000. Finally, Clearstead Trust LLC purchased a new position in Kinder Morgan in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 62.52% of the company's stock.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $27.39 on Friday. Kinder Morgan, Inc. has a 12 month low of $23.94 and a 12 month high of $31.48. 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 market capitalization of $60.86 billion, a P/E ratio of 22.45, a PEG ratio of 3.20 and a beta of 0.78. The firm's 50 day moving average is $27.26 and its 200 day moving average is $27.41.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KMI shares. TD Cowen started coverage on Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating and a $34.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of Kinder Morgan in a research note on Thursday, October 9th. They set a "hold" rating and a $30.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a "hold" rating in a research note on Thursday, August 14th. Wolfe Research upgraded shares of 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. Finally, Wells Fargo & Company upped their price target on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

Insiders Place Their Bets

In other Kinder Morgan news, VP Sital K. Mody sold 45,549 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $27.96, for a total value of $1,273,550.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John W. Schlosser sold 6,166 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $28.17, for a total transaction of $173,696.22. Following the completion of the sale, the vice president owned 219,702 shares in the company, valued at $6,189,005.34. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,174 shares of company stock worth $3,727,678. Company insiders own 12.73% of the company's stock.

Kinder Morgan Company 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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