First Trust Advisors LP cut its holdings in shares of Kinder Morgan Inc (NYSE:KMI) by 2.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 941,501 shares of the pipeline company’s stock after selling 24,220 shares during the period. First Trust Advisors LP’s holdings in Kinder Morgan were worth $16,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of KMI. Starr International Co. Inc. raised its position in shares of Kinder Morgan by 36.0% in the second quarter. Starr International Co. Inc. now owns 198,576 shares of the pipeline company’s stock worth $3,509,000 after acquiring an additional 52,599 shares during the period. Paloma Partners Management Co raised its position in shares of Kinder Morgan by 14.3% in the second quarter. Paloma Partners Management Co now owns 84,323 shares of the pipeline company’s stock worth $1,490,000 after acquiring an additional 10,541 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Kinder Morgan in the second quarter worth about $24,035,000. Millennium Management LLC raised its position in shares of Kinder Morgan by 81.4% in the second quarter. Millennium Management LLC now owns 3,673,782 shares of the pipeline company’s stock worth $64,916,000 after acquiring an additional 1,648,737 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Kinder Morgan by 6.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,546,169 shares of the pipeline company’s stock worth $133,341,000 after acquiring an additional 442,152 shares during the period. Institutional investors own 60.52% of the company’s stock.
A number of brokerages have weighed in on KMI. Zacks Investment Research upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Wednesday, October 24th. Barclays set a $21.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Friday, October 12th. Credit Suisse Group began coverage on shares of Kinder Morgan in a research report on Thursday, October 11th. They issued an “outperform” rating and a $23.00 price objective for the company. Goldman Sachs Group began coverage on shares of Kinder Morgan in a research report on Monday, October 8th. They issued a “conviction-buy” rating and a $24.00 price objective for the company. Finally, ValuEngine upgraded shares of Kinder Morgan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Kinder Morgan currently has a consensus rating of “Buy” and a consensus target price of $20.73.
KMI stock opened at $17.53 on Friday. The stock has a market cap of $38.50 billion, a PE ratio of 26.56, a P/E/G ratio of 2.36 and a beta of 0.69. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.05 and a quick ratio of 0.98. Kinder Morgan Inc has a 52 week low of $14.69 and a 52 week high of $19.83.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, October 17th. The pipeline company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Kinder Morgan had a net margin of 0.78% and a return on equity of 5.51%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.15 earnings per share. As a group, equities analysts anticipate that Kinder Morgan Inc will post 0.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.56%. Kinder Morgan’s dividend payout ratio is currently 121.21%.
In related news, insider Richard D. Kinder bought 500,000 shares of the business’s stock in a transaction dated Thursday, September 27th. The stock was acquired at an average price of $17.55 per share, with a total value of $8,775,000.00. Following the completion of the purchase, the insider now directly owns 235,212,353 shares of the company’s stock, valued at $4,127,976,795.15. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 14.16% of the stock is owned by insiders.
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Kinder Morgan Company Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and storage systems; natural gas and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.
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