Richmond Hill Investments LLC raised its stake in shares of Kinder Morgan Inc (NYSE:KMI) by 18.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,216,269 shares of the pipeline company’s stock after buying an additional 190,800 shares during the quarter. Kinder Morgan comprises 14.9% of Richmond Hill Investments LLC’s portfolio, making the stock its 4th largest holding. Richmond Hill Investments LLC owned approximately 0.06% of Kinder Morgan worth $21,564,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of KMI. Griffin Asset Management Inc. lifted its holdings in Kinder Morgan by 4.8% in the second quarter. Griffin Asset Management Inc. now owns 62,625 shares of the pipeline company’s stock valued at $1,107,000 after acquiring an additional 2,867 shares during the period. Hoertkorn Richard Charles increased its position in Kinder Morgan by 0.8% in the third quarter. Hoertkorn Richard Charles now owns 382,880 shares of the pipeline company’s stock worth $6,788,000 after buying an additional 2,880 shares in the last quarter. Wetherby Asset Management Inc. increased its position in Kinder Morgan by 11.7% in the third quarter. Wetherby Asset Management Inc. now owns 27,681 shares of the pipeline company’s stock worth $490,000 after buying an additional 2,894 shares in the last quarter. Motley Fool Asset Management LLC increased its position in Kinder Morgan by 14.7% in the second quarter. Motley Fool Asset Management LLC now owns 23,399 shares of the pipeline company’s stock worth $413,000 after buying an additional 2,997 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE increased its position in Kinder Morgan by 7.3% in the third quarter. Smithbridge Asset Management Inc. DE now owns 44,233 shares of the pipeline company’s stock worth $784,000 after buying an additional 3,000 shares in the last quarter. 61.55% of the stock is owned by institutional investors and hedge funds.
In other Kinder Morgan news, insider Richard D. Kinder purchased 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The stock was purchased at an average cost of $17.55 per share, with a total value of $8,775,000.00. Following the purchase, the insider now owns 235,212,353 shares of the company’s stock, valued at $4,127,976,795.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.16% of the stock is currently owned by company insiders.
Shares of NYSE:KMI traded up $0.19 during trading on Thursday, hitting $16.42. The company had a trading volume of 99,066 shares, compared to its average volume of 13,909,766. The firm has a market capitalization of $35.56 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 2.18 and a beta of 0.69. Kinder Morgan Inc has a one year low of $14.69 and a one year high of $19.83. 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 (NYSE:KMI) last posted its quarterly earnings data on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The business 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 company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $0.15 EPS. As a group, analysts expect that Kinder Morgan Inc will post 0.87 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Tuesday, October 30th. Kinder Morgan’s payout ratio is 121.21%.
KMI has been the subject of several research analyst reports. Credit Suisse Group initiated coverage on Kinder Morgan in a research report on Thursday, October 11th. They set an “outperform” rating and a $23.00 target price for the company. Goldman Sachs Group initiated coverage on Kinder Morgan in a research note on Monday, October 8th. They set a “conviction-buy” rating and a $24.00 price target for the company. Wolfe Research lowered Kinder Morgan from a “market perform” rating to an “underperform” rating in a research note on Monday, November 26th. ValuEngine raised Kinder Morgan from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. Finally, Barclays set a $21.00 price target on Kinder Morgan and gave the company a “buy” rating in a research note on Friday, October 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $20.94.
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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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