CI Global Investments Inc. reduced its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 35.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,323,057 shares of the pipeline company’s stock after selling 728,460 shares during the quarter. CI Global Investments Inc. owned approximately 0.06% of Kinder Morgan worth $25,376,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Heritage Trust Co boosted its holdings in shares of Kinder Morgan by 457.7% in the 2nd quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock worth $101,000 after acquiring an additional 4,302 shares in the last quarter. Fiduciary Trust Co. acquired a new position in shares of Kinder Morgan in the 2nd quarter worth approximately $115,000. Parallel Advisors LLC boosted its holdings in shares of Kinder Morgan by 14.0% in the 2nd quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock worth $136,000 after acquiring an additional 819 shares in the last quarter. Acrospire Investment Management LLC boosted its holdings in shares of Kinder Morgan by 30.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock worth $131,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Trust Co. of Vermont boosted its holdings in shares of Kinder Morgan by 10.3% in the 2nd quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock worth $138,000 after acquiring an additional 675 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors and hedge funds.
Kinder Morgan, Inc. (NYSE:KMI) traded down $0.21 during mid-day trading on Tuesday, hitting $17.46. The stock had a trading volume of 9,465,100 shares, compared to its average volume of 11,305,941. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.35 and a current ratio of 0.42. The firm has a market cap of $39,461.35, a P/E ratio of 27.18, a P/E/G ratio of 1.37 and a beta of 0.65. Kinder Morgan, Inc. has a one year low of $17.41 and a one year high of $23.01.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.15. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.21 billion. Kinder Morgan had a return on equity of 4.33% and a net margin of 10.39%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.10) EPS. analysts predict that Kinder Morgan, Inc. will post 0.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Monday, October 30th. Kinder Morgan’s dividend payout ratio (DPR) is currently 89.29%.
Kinder Morgan declared that its board has authorized a share buyback plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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Several brokerages have recently commented on KMI. Stifel Nicolaus reduced their target price on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, October 24th. Mizuho reissued a “hold” rating and issued a $22.00 target price on shares of Kinder Morgan in a report on Friday, October 20th. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. SunTrust Banks, Inc. set a $23.00 target price on Kinder Morgan and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Goldman Sachs Group, Inc. (The) downgraded Kinder Morgan from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $18.81 to $22.00 in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $23.03.
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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