Blume Capital Management Inc. decreased its holdings in shares of Kinder Morgan Inc (NYSE:KMI) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,655 shares of the pipeline company’s stock after selling 4,850 shares during the quarter. Kinder Morgan accounts for approximately 1.8% of Blume Capital Management Inc.’s portfolio, making the stock its 23rd largest position. Blume Capital Management Inc.’s holdings in Kinder Morgan were worth $3,451,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of KMI. Flagship Harbor Advisors LLC purchased a new stake in Kinder Morgan in the second quarter worth approximately $110,000. Westbourne Investment Advisors Inc. purchased a new stake in Kinder Morgan in the third quarter worth approximately $117,000. Blue Chip Partners Inc. purchased a new stake in Kinder Morgan in the third quarter worth approximately $128,000. Landaas & Co. WI ADV purchased a new stake in Kinder Morgan in the second quarter worth approximately $133,000. Finally, Capital Advantage Inc. purchased a new stake in Kinder Morgan in the third quarter worth approximately $142,000. 60.52% of the stock is owned by institutional investors.
KMI has been the subject of several research reports. Goldman Sachs Group initiated coverage on Kinder Morgan in a research note on Monday, October 8th. They issued a “conviction-buy” rating and a $24.00 target price for the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Kinder Morgan in a research note on Thursday, July 19th. JPMorgan Chase & Co. upped their target price on Kinder Morgan from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Stifel Nicolaus upped their target price on Kinder Morgan from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Finally, Citigroup cut their target price on Kinder Morgan from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, July 20th. One 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 assigned a strong buy rating to the company. Kinder Morgan has an average rating of “Buy” and a consensus target price of $20.73.
In related news, insider Richard D. Kinder acquired 500,000 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was purchased at an average price of $17.55 per share, with a total value of $8,775,000.00. Following the completion of the purchase, the insider now owns 235,212,353 shares in the company, valued at approximately $4,127,976,795.15. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 14.16% of the company’s stock.
NYSE:KMI opened at $17.26 on Tuesday. The company has a market cap of $37.19 billion, a PE ratio of 26.15, a P/E/G ratio of 2.28 and a beta of 0.69. Kinder Morgan Inc has a fifty-two week low of $14.69 and a fifty-two week high of $19.83. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 1.00.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.57 billion. Kinder Morgan had a return on equity of 5.51% and a net margin of 0.78%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Sell-side analysts anticipate that Kinder Morgan Inc will post 0.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Tuesday, October 30th. Kinder Morgan’s dividend payout ratio (DPR) is presently 121.21%.
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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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