Truepoint Inc. lifted its position in shares of Kinder Morgan Inc (NYSE:KMI) by 1,851.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 466,975 shares of the pipeline company’s stock after purchasing an additional 443,041 shares during the quarter. Truepoint Inc.’s holdings in Kinder Morgan were worth $467,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of KMI. Heritage Trust Co raised its position in 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 buying an additional 4,302 shares during the last quarter. Welch Investments LLC purchased a new stake in Kinder Morgan in the 3rd quarter valued at $102,000. Valeo Financial Advisors LLC purchased a new stake in Kinder Morgan in the 3rd quarter valued at $104,000. Fiduciary Trust Co. purchased a new stake in Kinder Morgan in the 2nd quarter valued at $115,000. Finally, Acrospire Investment Management LLC raised its position in Kinder Morgan by 30.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock valued at $131,000 after buying an additional 1,600 shares during the last quarter. 60.88% of the stock is currently owned by institutional investors.
Shares of Kinder Morgan Inc (NYSE KMI) traded up $0.06 during trading hours on Thursday, reaching $17.91. The company’s stock had a trading volume of 3,146,656 shares, compared to its average volume of 11,633,114. The company has a market cap of $39,640.01, a P/E ratio of 27.31, a PEG ratio of 1.38 and a beta of 0.62. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.35. Kinder Morgan Inc has a 52-week low of $16.68 and a 52-week 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, hitting the consensus estimate of $0.15. The company had revenue of $3.28 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) EPS. sell-side analysts forecast that Kinder Morgan Inc will post 0.64 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.50 annualized dividend and a dividend yield of 2.79%. Kinder Morgan’s payout ratio is 89.29%.
A number of research firms recently commented on KMI. Morgan Stanley reissued an “overweight” rating on shares of Kinder Morgan in a research report on Tuesday, September 5th. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. BMO Capital Markets set a $26.00 price objective on Kinder Morgan and gave the company a “buy” rating in a research note on Thursday, October 12th. BidaskClub downgraded Kinder Morgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Finally, Citigroup reduced their price objective on Kinder Morgan from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $22.97.
In other news, VP Thomas A. Martin purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was bought at an average price of $17.10 per share, for a total transaction of $51,300.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.99% of the stock is currently owned by corporate insiders.
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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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