This article first appeared on GuruFocus.
RDIV drove the day’s ETF activity in Kinder Morgan (KMI), exiting its position entirely as ETFs sold a net $61.0 million of the stock in Monday’s session. More funds traded the other way, with 35 ETFs buying versus 21 selling, but in smaller amounts. The net selling followed inflows of $9.0 million on Oct. 30, $17.5 million on Oct. 29 and $3.3 million on Oct. 28. The move marks one day in the selling direction.
See all ETF and guru trades in KMI on its KMI guru trades page.
Which ETFs sold KMI on Monday?
The largest sellers by dollar value were RDIV ($58.2 million), XLE ($5.4 million) and SPLV ($0.6 million). In all, 35 ETFs added shares and 21 cut them.
RDIV shed 1,780,712 shares worth $58.2 million, a 100.0% cut that left it with 29 shares. XLE trimmed 164,424 shares for $5.4 million, reducing its stake by 0.38% to 42,565,830 shares, a 3.14% weight. SPLV cut 18,960 shares for $0.6 million, IWS trimmed 11,151 shares for $0.4 million, and SPHD, SPYV, FVD and IFRA each made smaller reductions. Kinder Morgan operates in the Energy sector’s Oil & Gas Midstream industry and carries a market cap of $73.2 billion.
Have ETFs been buying or selling KMI lately?
Over the last 5 reported days, ETFs were net buyers on 3 and net sellers on 2, so the recent trend is mostly buying.
What does KMI do?
Kinder Morgan Inc. is a North American energy infrastructure company that owns and operates pipelines and terminals. Its primary business is natural gas transportation, storage, and gathering through an extensive network spanning the continental United States, making it one of the largest midstream operators in the country.
Kinder Morgan reported trailing-12-month revenue of $18.37 billion, up 12.1% year over year, with a 35.8% gross margin and a 19.6% net margin. It trades at a P/E of 20.4, a P/B of 2.32 and a P/S of 3.98. Its <a href="https://www.gurufocus.com/term/gf-score/KMI?ref=etf-stock&r=caf6fe0e0db70d936033da5461e60141&utm_source=yahoo_finance&utm_medium=syndication&
Source: finance.yahoo.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.
