16 Aug

Kinder Morgan and Williams Companies: Are Investors Bearish?

WRITTEN BY Rekha Khandelwal, CFA

Top institutional investors

Together, the top ten institutional investors in Kinder Morgan (KMI) sold net 23.5 million shares of the company in the second quarter. The sale of 30.1 million shares by Wellington Management Company was the largest position change. Fidelity Management & Research Company, not among the top ten investors, sold 19.1 million shares of Kinder Morgan. Together, the top ten investors hold 34.4% of Kinder Morgan’s outstanding shares.

Kinder Morgan and Williams Companies: Are Investors Bearish?

The above table shows the top institutional investors and their latest position changes in Kinder Morgan, Enterprise Products Partners (EPD), MPLX (MPLX), and Williams Companies (WMB).

Williams Companies

Together, the top ten investors in Williams Companies sold net 5.5 million shares of Williams Companies, according to the latest filings. The sale of 18.6 million shares by Fidelity Management & Research Company was the largest position change. King Street Capital Management, not among the top ten investors, added 8.5 million Williams Companies shares to its position. BlackRock Financial Management added 5.8 million Williams Companies shares to its position.

Together, the top ten investors own 33.9% of Williams Companies’ outstanding shares. Top investors’ reduced positions in Kinder Morgan and Williams Companies likely indicate investors’ bearish sentiments.

Enterprise Products Partners

The top ten investors in Enterprise Products Partners sold net 6.8 million shares, according to the latest filings. The sale of 8.4 million shares by Bank of America Merrill Lynch was the biggest sale transaction. BlackRock Financial Management, not among the top ten investors, added 9.6 million shares to its position.

MPLX

Institutional investors seem bullish on MPLX. Together, the ten largest investors in MPLX added net 5.6 million shares to their positions in the second quarter. The addition of 2.8 million shares by Salient Capital Advisor was the largest position change.

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