Edgemoor Investment Advisors Inc. cut its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 317,904 shares of the pipeline company’s stock after selling 11,309 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Kinder Morgan were worth $6,097,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Heritage Trust Co increased 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 valued at $101,000 after acquiring an additional 4,302 shares during the last quarter. Welch Investments LLC bought a new stake in shares of Kinder Morgan in the 3rd quarter valued at approximately $102,000. Fiduciary Trust Co. bought a new stake in shares of Kinder Morgan in the 2nd quarter valued at approximately $115,000. Parallel Advisors LLC increased 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 valued at $136,000 after acquiring an additional 819 shares during the last quarter. Finally, Acrospire Investment Management LLC boosted its position in Kinder Morgan by 30.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock valued at $131,000 after purchasing an additional 1,600 shares during the period. Institutional investors own 59.79% of the company’s stock.
Shares of Kinder Morgan, Inc. (NYSE:KMI) traded down $0.33 during mid-day trading on Monday, reaching $16.86. The company’s stock had a trading volume of 2,825,916 shares, compared to its average volume of 11,333,163. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.96. Kinder Morgan, Inc. has a one year low of $16.70 and a one year high of $23.01. The firm has a market cap of $38,389.40, a price-to-earnings ratio of 26.45, a PEG ratio of 1.33 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.15. Kinder Morgan had a return on equity of 4.33% and a net margin of 10.39%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same quarter in the previous year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. analysts predict that Kinder Morgan, Inc. will post 0.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.50 dividend on an annualized basis and a yield of 2.97%. Kinder Morgan’s dividend payout ratio (DPR) is presently 89.29%.
A number of research analysts recently issued reports on KMI shares. Stifel Nicolaus reduced their price objective on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. BMO Capital Markets set a $26.00 price objective on Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, October 12th. SunTrust Banks, Inc. set a $23.00 price objective on Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, October 19th. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, Mizuho restated a “hold” rating and set a $22.00 price objective on shares of Kinder Morgan in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target 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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