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Kinder Morgan Fell for the Fourth Straight Week, Down 5% in 2018

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Kinder Morgan Fell for the Fourth Straight Week, Down 5% in 2018 PART 3 OF 3

Short Interest in Kinder Morgan Rose 19%

Short interest

The short interest in Kinder Morgan (KMI), as a percentage of its float, is 3.3%—higher compared to 2.8% at the end of January 2018. According to data released on February 9, 2018, the total number of Kinder Morgan shares shorted was ~63.4 million on January 31, 2018—19.0% higher compared to ~53.2 million on January 12, 2018. The current short interest in Kinder Morgan is the same level as its average in the last five years.

Short Interest in Kinder Morgan Rose 19%

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As the above graph shows, the increased short interest in the past month was associated with a fall in Kinder Morgan’s stock price. The recent rise in Kinder Morgan’s short interest might show that more investors think its price will fall soon—compared to the investors that expected a fall at the end of January 2018.

Short interest ratio

The short interest in Kinder Morgan is ~63.4 million shares, while its average 30-day daily trading volume is ~17 million shares. So, Kinder Morgan’s short interest ratio is ~3.7x. For Kinder Morgan stock, it will take about four days to cover all of the open short positions.

The short interest in Enterprise Products Partners (EPD) was ~20.3 million shares on January 31, 2018—13% lower compared to 23.2 million shares on January 12, 2018. The short interest in ONEOK (OKE) rose nearly 4% to ~10.0 million shares on January 31, 2018.

For the latest MLP coverage, visit Market Realist’s Energy and Power page.

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