NorthCrest Asset Manangement LLC acquired a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 192,835 shares of the pipeline company’s stock, valued at approximately $3,377,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fairfield Bush & CO. bought a new stake in shares of Kinder Morgan in the first quarter worth about $93,000. American Century Companies Inc. grew its stake in shares of Kinder Morgan by 12.3% in the first quarter. American Century Companies Inc. now owns 91,931 shares of the pipeline company’s stock worth $1,739,000 after purchasing an additional 10,079 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Kinder Morgan by 48,564.7% in the first quarter. Acadian Asset Management LLC now owns 8,273 shares of the pipeline company’s stock worth $156,000 after purchasing an additional 8,256 shares during the last quarter. Synovus Financial Corp grew its stake in shares of Kinder Morgan by 1.6% in the first quarter. Synovus Financial Corp now owns 90,218 shares of the pipeline company’s stock worth $1,705,000 after purchasing an additional 1,408 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in Kinder Morgan in the first quarter worth about $263,000. 61.03% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
KMI has been the subject of several research analyst reports. Barclays lowered their price objective on shares of Kinder Morgan from $21.00 to $20.00 in a report on Tuesday, April 18th. StockNews.com initiated coverage on shares of Kinder Morgan in a report on Thursday, May 18th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.56.
Kinder Morgan Price Performance
Kinder Morgan (NYSE:KMI – Free Report) last announced its quarterly earnings data on Wednesday, April 19th. The pipeline company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. Kinder Morgan had a net margin of 13.62% and a return on equity of 8.06%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period in the previous year, the business earned $0.32 EPS. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.09 EPS for the current fiscal year.
Kinder Morgan Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 1st were issued a $0.2825 dividend. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.13 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date of this dividend was Friday, April 28th. Kinder Morgan’s payout ratio is presently 100.00%.
Kinder Morgan Company 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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