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How Institutions Played Kinder Morgan in Q4 2018

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Dec. 4 2020, Updated 10:53 a.m. ET

Kinder Morgan

The Vanguard Group was the top institutional investor in midstream C corporation Kinder Morgan (KMI) during the fourth quarter. The Vanguard Group added more than ~6.1 million shares of Kinder Morgan during the quarter and held 6.7% of its total outstanding shares as of December 31. Richard Kinder, Kinder Morgan’s cofounder and executive chair, held ~11.2%, or 246.4 million shares, of Kinder Morgan as of February 7, 2019.

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Big additions in KMI

Among the notable additions, BlackRock Institutional Trust bought approximately 5.8 million shares of KMI and held 4.1% of its total outstanding shares as of December 31. Franklin Mutual Advisers bought more than 2.7 million Kinder Morgan shares during the fourth quarter. Franklin Mutual Advisers held ~2% of Kinder Morgan as of December 31. It has been increasing its KMI stake for the last couple of quarters. It bought more than 4 million shares of KMI in Q3 2018.

Among other big buyers, Renaissance Technologies bought net 9.2 million shares while Tortoise Capital Advisors bought net 5.7 million shares of KMI. Kinder Morgan currently offers a yield of 4.2%, far lower than AMLP’s (AMLP) 7.9%.

Analyst recommendations

According to Wall Street analysts, Kinder Morgan has a median target price of $21.28 compared to its current market price of $18.80, which indicates a potential upside of 13.2% for the next 12 months.

Currently, 20 analysts track Kinder Morgan. Ten analysts recommended a “strong buy,” eight recommended a “buy,” and one recommended a “hold.” Kinder Morgan has one “strong sell” rating as of February 19.

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