The 1% fall
Kinder Morgan (KMI) fell 1.0% in the week ended August 4, 2017. It has fallen 6.5% year-to-date. The Energy Select Sector SPDR ETF (XLE) fell 1.2%, and the SPDR S&P 500 ETF (SPY) (SPX-INDEX) rose 0.20% for the week. Crude oil prices fell marginally by 0.30%.
As the above graph shows, Kinder Morgan outperformed XLE as well as crude oil prices on a year-to-date basis. KMI stock rose 4.5% on July 20, 2017, after the company announced its results for the second quarter of 2017. With those results, it announced expectations of a 60.0% dividend increase in 2018 over 2017.
Short interest in KMI
According to data released on July 25, 2017, short interest in Kinder Morgan stock was ~25.8 million shares on July 14, 2017, compared to ~25.3 million shares on June 30, 2017. Short interest in KMI as a percentage of its float was 1.3%. The days-to-cover ratio was three. That means that it may take nearly three days to cover all open short positions in KMI, based on its average trading volume.
According to the latest filings, the top ten institutional investors in Kinder Morgan added net 31.8 million KMI shares to their positions. Thus, institutional investors broadly look bullish on KMI. You can find out more in Are Institutional Investors Bullish on Kinder Morgan?
For a deeper analysis of Kinder Morgan, read Everything You Wanted to Know about Kinder Morgan.
Next, we’ll take a look at Kinder Morgan’s moving averages and its price targets.