Alliancebernstein L.P. lowered its holdings in Kinder Morgan Inc (NYSE:KMI) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,346,400 shares of the pipeline company’s stock after selling 82,262 shares during the period. Alliancebernstein L.P. owned about 0.15% of Kinder Morgan worth $60,469,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Welch Investments LLC acquired a new stake in Kinder Morgan during the third quarter valued at approximately $102,000. Valeo Financial Advisors LLC acquired a new stake in Kinder Morgan during the third quarter valued at approximately $104,000. Sit Investment Associates Inc. raised its stake in Kinder Morgan by 237.1% during the fourth quarter. Sit Investment Associates Inc. now owns 6,725 shares of the pipeline company’s stock valued at $122,000 after buying an additional 4,730 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Kinder Morgan during the fourth quarter valued at approximately $126,000. Finally, Goodman Financial Corp acquired a new stake in Kinder Morgan during the fourth quarter valued at approximately $126,000. 62.63% of the stock is owned by hedge funds and other institutional investors.
In other Kinder Morgan news, Director William A. Smith bought 5,500 shares of the stock in a transaction that occurred on Monday, January 22nd. The shares were purchased at an average cost of $19.52 per share, for a total transaction of $107,360.00. Following the transaction, the director now directly owns 14,587 shares in the company, valued at $284,738.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.99% of the stock is owned by company insiders.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, January 17th. The pipeline company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Kinder Morgan had a return on equity of 4.38% and a net margin of 1.34%. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the prior year, the firm earned $0.08 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. research analysts predict that Kinder Morgan Inc will post 0.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Wednesday, January 31st were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.02%. The ex-dividend date was Tuesday, January 30th. Kinder Morgan’s dividend payout ratio is currently -92.59%.
Several analysts have issued reports on KMI shares. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating in a research note on Monday, January 29th. They noted that the move was a valuation call. Royal Bank of Canada restated a “hold” rating and set a $22.00 price objective on shares of Kinder Morgan in a research note on Wednesday, November 15th. Bank of America started coverage on Kinder Morgan in a research note on Tuesday, January 9th. They set a “neutral” rating on the stock. Morgan Stanley cut their price objective on Kinder Morgan from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Finally, Credit Suisse Group set a $22.00 price objective on Kinder Morgan and gave the company a “buy” rating in a research note on Monday, February 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Kinder Morgan currently has an average rating of “Hold” and a consensus price target of $22.69.
About Kinder Morgan
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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