Kinder Morgan Inc (NYSE:KMI) shares are down big yet again, with today’s drop spurred on by a number of factors. The stock has been down considerably over the last month in a half despite paying a hefty dividend which equates to approximately 10% at the current share price. Shares were trading at over $32 just 45 days ago, meaning they have fallen by over 50% since October 16th.
Partially to blame for the drop in Kinder Morgan Inc’s (NYSE:KMI) share price is a series of global economic data and events taking place. This includes the continued drop in oil prices as well as OPEC not cutting/waiting for hedges to expire. Additionally, the rising dollar and the fact that investors may be looking to lock in capital losses for the end of the year could have possible negative impacts on the shares.The stock has fallen 8.34% or $1.87 following this negative news, hitting $20.55 per share. About 37.48 million shares traded hands or 73.28% up from the average. KMI has declined 47.95% since April 29, 2015 and is downtrending. It has underperformed the S&P500 by 47.74%.
From a total of 8 analysts covering Kinder Morgan (NYSE:KMI) stock, 6 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 75% of the ratings are positive. The highest target price is $44 while the lowest target price is $29. The mean of all analyst targets is $37 which is 80.05% above today’s ($20.55) stock price. Kinder Morgan was the topic of 16 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on November 10 with a “Buy” rating. Bank of America maintained shares with a”Buy” rating and a $44 target share price in their report from a September 28. RBC Capital Markets maintained KMI stock in a recent report from October 22 with a “Outperform” rating. Finally, Credit Suisse downgraded the stock to a “Neutral” rating in a report they issued on an October 22.
The institutional sentiment decreased to 1.18 in Q2 2015. It’s down 0.15, from 1.33 in 2015Q1. The ratio turned negative, as 86 funds sold all their Kinder Morgan Inc shares they owned while 413 reduced their positions. 106 funds bought stakes while 483 increased their total positions. Institutions now own 1.17 billion shares which is 2.97% less than the previous share count of 1.21 billion in 2015Q1.
Highstar Capital Lp holds 100% of its total portfolio in Kinder Morgan Inc, equating to 68.87 million shares. Travelers Companies Inc. owns 1.64 million shares representing 16.62% of their total US portfolio. Moreover, Rare Infrastructure Ltd has 14.64% of their total portfolio invested in the company, equating to 9.63 million shares. The New York-based C V Starr & Co Inc has a total of 13.21% of their portfolio invested in the stock. Endurance Wealth Management Inc., a Rhode Island-based fund reported 1.61 million shares owned.
Kinder Morgan, Inc. is an energy infrastructure and energy firm in North America. The company has a market cap of $49.78 billion. The Firm operates through six divisions: Natural Gas Pipelines, CO2, Terminals, Products Pipelines, Kinder Morgan Canada and Other. It has 39.29 P/E ratio. The Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.