Cadence Capital Management LLC lifted its stake in Kinder Morgan Inc (NYSE:KMI) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 509,272 shares of the pipeline company’s stock after acquiring an additional 12,214 shares during the period. Cadence Capital Management LLC’s holdings in Kinder Morgan were worth $9,029,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. DnB Asset Management AS boosted its stake in Kinder Morgan by 7.1% during the second quarter. DnB Asset Management AS now owns 264,273 shares of the pipeline company’s stock worth $4,670,000 after buying an additional 17,600 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Kinder Morgan by 42.9% during the second quarter. IFM Investors Pty Ltd now owns 90,704 shares of the pipeline company’s stock valued at $1,603,000 after acquiring an additional 27,246 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Kinder Morgan by 17.1% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 35,670 shares of the pipeline company’s stock valued at $630,000 after acquiring an additional 5,200 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Kinder Morgan by 17.1% during the second quarter. State of Alaska Department of Revenue now owns 303,957 shares of the pipeline company’s stock valued at $5,370,000 after acquiring an additional 44,300 shares during the period. Finally, Private Asset Management Inc. lifted its holdings in shares of Kinder Morgan by 2.5% during the second quarter. Private Asset Management Inc. now owns 310,822 shares of the pipeline company’s stock valued at $4,681,000 after acquiring an additional 7,585 shares during the period. Institutional investors and hedge funds own 60.52% of the company’s stock.
Shares of NYSE KMI opened at $16.86 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.05 and a quick ratio of 0.98. Kinder Morgan Inc has a 52-week low of $14.69 and a 52-week high of $19.83. The firm has a market cap of $37.19 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 2.28 and a beta of 0.69.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the business posted $0.15 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that Kinder Morgan Inc will post 0.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be issued 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 dividend yield of 4.74%. Kinder Morgan’s dividend payout ratio is 121.21%.
In other Kinder Morgan news, insider Richard D. Kinder purchased 500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The stock was acquired at an average cost of $17.55 per share, with a total value of $8,775,000.00. Following the completion of the acquisition, the insider now directly owns 235,212,353 shares of the company’s stock, valued at approximately $4,127,976,795.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 14.16% of the company’s stock.
A number of research analysts have issued reports on KMI shares. Barclays set a $21.00 price objective on Kinder Morgan and gave the company a “buy” rating in a report on Friday, October 12th. JPMorgan Chase & Co. lifted their price objective on Kinder Morgan from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Goldman Sachs Group started coverage on Kinder Morgan in a report on Monday, October 8th. They set a “conviction-buy” rating and a $24.00 price objective for the company. Credit Suisse Group started coverage on Kinder Morgan in a report on Thursday, October 11th. They set an “outperform” rating and a $23.00 price objective for the company. Finally, ValuEngine raised Kinder Morgan from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.73.
Kinder Morgan Profile
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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