Boston Family Office LLC reduced its position in shares of Kinder Morgan Inc (NYSE:KMI) by 32.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 196,348 shares of the pipeline company’s stock after selling 92,405 shares during the quarter. Boston Family Office LLC’s holdings in Kinder Morgan were worth $3,481,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new stake in Kinder Morgan in the second quarter worth $110,000. Westbourne Investment Advisors Inc. bought a new stake in Kinder Morgan in the third quarter worth $117,000. Blue Chip Partners Inc. bought a new stake in Kinder Morgan in the third quarter worth $128,000. Landaas & Co. WI ADV bought a new stake in Kinder Morgan in the second quarter worth $133,000. Finally, Capital Advantage Inc. bought a new stake in Kinder Morgan in the third quarter worth $142,000. Hedge funds and other institutional investors own 60.43% of the company’s stock.
A number of analysts recently issued reports on KMI shares. Barclays set a $21.00 price target on Kinder Morgan and gave the stock a “buy” rating in a research report on Friday, October 12th. JPMorgan Chase & Co. raised their price target on Kinder Morgan from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Goldman Sachs Group started coverage on Kinder Morgan in a research report on Monday, October 8th. They issued a “conviction-buy” rating and a $24.00 price target for the company. Credit Suisse Group started coverage on Kinder Morgan in a research report on Thursday, October 11th. They issued an “outperform” rating and a $23.00 price target for the company. Finally, ValuEngine upgraded Kinder Morgan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Kinder Morgan has an average rating of “Buy” and an average target price of $20.73.
KMI stock opened at $16.86 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.98 and a current ratio of 1.05. Kinder Morgan Inc has a twelve month low of $14.69 and a twelve month high of $19.83. The firm has a market capitalization of $36.97 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 2.27 and a beta of 0.73.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. Kinder Morgan had a return on equity of 5.51% and a net margin of 0.78%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm posted $0.15 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts predict that Kinder Morgan Inc will post 0.87 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.74%. Kinder Morgan’s payout ratio is 121.21%.
In other Kinder Morgan news, insider Richard D. Kinder bought 500,000 shares of Kinder Morgan stock in a transaction on Thursday, September 27th. The shares were acquired at an average price of $17.55 per share, for a total transaction of $8,775,000.00. Following the completion of the purchase, the insider now directly owns 235,212,353 shares in the company, valued at approximately $4,127,976,795.15. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 14.16% of the company’s stock.
About Kinder Morgan
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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