Nordea Investment Management AB Raises Stock Holdings in Kinder Morgan, Inc. $KMI

Nordea Investment Management AB increased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 9.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 145,988 shares of the pipeline company’s stock after purchasing an additional 13,150 shares during the quarter. Nordea Investment Management AB’s holdings in Kinder Morgan were worth $4,270,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in KMI. Nuveen LLC purchased a new position in Kinder Morgan during the first quarter worth about $205,966,000. 59 North Capital Management LP purchased a new position in Kinder Morgan during the first quarter worth about $195,658,000. Goldman Sachs Group Inc. lifted its position in Kinder Morgan by 37.5% during the first quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company’s stock worth $578,628,000 after buying an additional 5,529,065 shares during the period. Assenagon Asset Management S.A. lifted its position in Kinder Morgan by 55.5% during the second quarter. Assenagon Asset Management S.A. now owns 8,505,330 shares of the pipeline company’s stock worth $250,057,000 after buying an additional 3,037,095 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Kinder Morgan during the second quarter worth about $68,124,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP John W. Schlosser sold 6,166 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $28.17, for a total value of $173,696.22. Following the completion of the sale, the vice president owned 219,702 shares in the company, valued at approximately $6,189,005.34. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dax Sanders sold 30,127 shares of the stock in a transaction dated Monday, August 11th. The shares were 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 owned 292,000 shares of the company’s stock, valued at approximately $7,898,600. This trade represents a 9.35% 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 valued at $3,727,678. Company insiders own 12.73% of the company’s stock.

Kinder Morgan Price Performance

KMI stock opened at $27.49 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. Kinder Morgan, Inc. has a 1 year low of $23.94 and a 1 year high of $31.48. The firm has a market cap of $61.09 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 3.24 and a beta of 0.78. The stock has a 50-day simple moving average of $27.29 and a 200-day simple moving average of $27.41.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KMI shares. Wells Fargo & Company increased their target price on Kinder Morgan from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Weiss Ratings restated a “buy (b)” rating on shares of Kinder Morgan in a research note on Wednesday, October 8th. Stifel Nicolaus upped their price target on Kinder Morgan from $28.00 to $29.00 and gave the stock a “hold” rating in a research note on Thursday, August 14th. Wolfe Research upgraded Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Friday, July 25th. Finally, TD Cowen started coverage on Kinder Morgan in a research note on Monday, July 7th. They set a “buy” rating and a $34.00 price target for the company. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.13.

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.