Pitcairn Co. lessened its stake in Kinder Morgan Inc (NYSE:KMI) by 7.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,809 shares of the pipeline company’s stock after selling 1,229 shares during the quarter. Pitcairn Co.’s holdings in Kinder Morgan were worth $225,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. increased its stake in Kinder Morgan by 8.1% during the first quarter. BlackRock Inc. now owns 145,929,033 shares of the pipeline company’s stock worth $2,031,331,000 after acquiring an additional 10,887,688 shares during the last quarter. State Street Corp increased its stake in Kinder Morgan by 0.3% during the first quarter. State Street Corp now owns 104,998,384 shares of the pipeline company’s stock worth $1,461,578,000 after acquiring an additional 348,095 shares during the last quarter. Harvest Fund Advisors LLC increased its stake in Kinder Morgan by 11.2% during the first quarter. Harvest Fund Advisors LLC now owns 22,869,858 shares of the pipeline company’s stock worth $318,348,000 after acquiring an additional 2,310,930 shares during the last quarter. Legal & General Group Plc increased its stake in Kinder Morgan by 3.4% during the first quarter. Legal & General Group Plc now owns 18,147,996 shares of the pipeline company’s stock worth $252,902,000 after acquiring an additional 596,864 shares during the last quarter. Finally, First Pacific Advisors LP increased its stake in Kinder Morgan by 6.2% during the first quarter. First Pacific Advisors LP now owns 15,321,824 shares of the pipeline company’s stock worth $213,280,000 after acquiring an additional 892,778 shares during the last quarter. 61.44% of the stock is owned by institutional investors.
In other Kinder Morgan news, major shareholder Richard D. Kinder purchased 300,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were bought at an average cost of $14.14 per share, for a total transaction of $4,242,000.00. Following the completion of the purchase, the insider now directly owns 244,839,120 shares in the company, valued at $3,462,025,156.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.19% of the stock is owned by company insiders.
NYSE:KMI opened at $14.10 on Friday. Kinder Morgan Inc has a 12-month low of $9.42 and a 12-month high of $22.58. The company has a current ratio of 0.48, a quick ratio of 0.50 and a debt-to-equity ratio of 0.98. The firm has a market cap of $31.89 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 5.42 and a beta of 1.04. The stock has a fifty day moving average price of $14.88 and a 200 day moving average price of $16.63.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, July 22nd. The pipeline company reported $0.17 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.17. Kinder Morgan had a return on equity of 6.02% and a net margin of 1.41%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same period last year, the firm earned $0.22 earnings per share. Equities analysts forecast that Kinder Morgan Inc will post 0.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be paid a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date of this dividend is Friday, July 31st. Kinder Morgan’s dividend payout ratio is presently 110.53%.
Several research firms have issued reports on KMI. Citigroup cut their target price on Kinder Morgan from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, May 20th. Goldman Sachs Group lowered Kinder Morgan from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $16.00 to $15.00 in a research report on Monday, July 6th. Mizuho lowered their price target on Kinder Morgan from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Royal Bank of Canada restated a “hold” rating and set a $19.00 price target on shares of Kinder Morgan in a research report on Tuesday, April 21st. Finally, Piper Sandler lowered their price target on Kinder Morgan from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $18.72.
About Kinder Morgan
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 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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