Ritholtz Wealth Management lowered its stake in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 25.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 18,692 shares of the pipeline company’s stock after selling 6,503 shares during the quarter. Ritholtz Wealth Management’s holdings in Kinder Morgan were worth $327,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of KMI. Moneta Group Investment Advisors LLC lifted its position in Kinder Morgan by 102,208.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 41,070,520 shares of the pipeline company’s stock valued at $742,555,000 after purchasing an additional 41,030,376 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Kinder Morgan by 1,352.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,803,132 shares of the pipeline company’s stock valued at $665,401,000 after purchasing an additional 34,269,435 shares during the last quarter. Norges Bank bought a new position in shares of Kinder Morgan during the fourth quarter valued at approximately $256,613,000. Renaissance Technologies LLC bought a new position in shares of Kinder Morgan during the first quarter valued at approximately $69,969,000. Finally, State Street Corp raised its holdings in shares of Kinder Morgan by 2.3% during the third quarter. State Street Corp now owns 143,044,363 shares of the pipeline company’s stock valued at $2,380,258,000 after acquiring an additional 3,253,951 shares in the last quarter. Institutional investors own 61.03% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently commented on KMI. StockNews.com began coverage on Kinder Morgan in a report on Thursday, May 18th. They set a “hold” rating for the company. Barclays decreased their target price on Kinder Morgan from $21.00 to $20.00 in a report on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.56.
Kinder Morgan Price Performance
Kinder Morgan (NYSE:KMI – Free Report) last released its earnings results on Wednesday, April 19th. The pipeline company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. Kinder Morgan had a return on equity of 8.06% and a net margin of 13.62%. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was down 9.4% on a year-over-year basis. Research analysts expect that Kinder Morgan, Inc. will post 1.09 EPS for the current fiscal year.
Kinder Morgan Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 1st were paid a $0.2825 dividend. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.13 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date of this dividend was Friday, April 28th. Kinder Morgan’s dividend payout ratio is currently 100.00%.
Kinder Morgan Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and underground storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.
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