California State Teachers Retirement System lowered its stake in Kinder Morgan Inc (NYSE:KMI) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,428,125 shares of the pipeline company’s stock after selling 73,445 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Kinder Morgan worth $61,946,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Welch Investments LLC acquired a new position in shares of Kinder Morgan in the 3rd quarter valued at $102,000. Valeo Financial Advisors LLC acquired a new position in shares of Kinder Morgan in the 3rd quarter valued at $104,000. CoreCommodity Management LLC acquired a new position in shares of Kinder Morgan in the 4th quarter valued at $113,000. Sit Investment Associates Inc. lifted its stake in shares of Kinder Morgan by 237.1% in the 4th quarter. Sit Investment Associates Inc. now owns 6,725 shares of the pipeline company’s stock valued at $122,000 after purchasing an additional 4,730 shares during the period. Finally, Cerebellum GP LLC acquired a new position in shares of Kinder Morgan in the 4th quarter valued at $126,000. 62.63% of the stock is currently owned by institutional investors.
In other news, Director William A. Smith bought 5,500 shares of the stock in a transaction on Monday, January 22nd. The stock was purchased at an average price of $19.52 per share, for a total transaction of $107,360.00. Following the acquisition, the director now owns 14,587 shares in the company, valued at $284,738.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 13.99% of the stock is currently owned by corporate insiders.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, January 17th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The firm had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Kinder Morgan had a return on equity of 4.38% and a net margin of 1.34%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. equities analysts forecast that Kinder Morgan Inc will post 0.85 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Tuesday, January 30th. Kinder Morgan’s dividend payout ratio (DPR) is presently -92.59%.
KMI has been the topic of a number of analyst reports. Argus raised 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 issued a $22.00 price objective on shares of Kinder Morgan in a research report on Wednesday, November 15th. Bank of America initiated coverage on shares of Kinder Morgan in a research report on Tuesday, January 9th. They issued a “neutral” rating for the company. Morgan Stanley lowered their price objective on shares of Kinder Morgan from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Finally, Credit Suisse Group set a $22.00 price objective on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $22.50.
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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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