Pinnacle Financial Partners Inc. cut its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 13.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,284 shares of the pipeline company’s stock after selling 8,666 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Kinder Morgan were worth $1,041,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Heritage Trust Co increased its position in Kinder Morgan by 457.7% during the second quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock worth $101,000 after buying an additional 4,302 shares in the last quarter. Welch Investments LLC purchased a new position in Kinder Morgan during the third quarter worth $102,000. Fiduciary Trust Co. purchased a new position in Kinder Morgan during the second quarter worth $115,000. Parallel Advisors LLC increased its position in Kinder Morgan by 14.0% during the second quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock worth $136,000 after buying an additional 819 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its position in Kinder Morgan by 30.7% during the second quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock worth $131,000 after buying an additional 1,600 shares in the last quarter. 59.79% of the stock is owned by hedge funds and other institutional investors.
Shares of Kinder Morgan, Inc. (NYSE:KMI) traded up $0.26 on Wednesday, hitting $17.13. The company’s stock had a trading volume of 3,671,140 shares, compared to its average volume of 11,369,259. The firm has a market capitalization of $38,099.07, a PE ratio of 26.25, a PEG ratio of 1.32 and a beta of 0.65. Kinder Morgan, Inc. has a 12 month low of $16.70 and a 12 month high of $23.01. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.35 and a current ratio of 0.42.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm posted ($0.10) earnings per share. analysts predict that Kinder Morgan, Inc. will post 0.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Monday, October 30th. Kinder Morgan’s dividend payout ratio is presently 89.29%.
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KMI has been the subject of several recent research reports. SunTrust Banks, Inc. set a $23.00 price target on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, October 19th. Stifel Nicolaus set a $25.00 price objective on Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, August 17th. BMO Capital Markets reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Kinder Morgan in a research report on Friday, July 28th. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, Mizuho reaffirmed a “hold” rating and issued a $22.00 price objective on shares of Kinder Morgan in a research report on Friday, October 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.97.
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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