Infrastructure Capital Advisors LLC lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 42.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,467 shares of the pipeline company’s stock after selling 49,926 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Kinder Morgan were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of KMI. Moneta Group Investment Advisors LLC raised its position in shares of Kinder Morgan by 102,208.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 41,070,520 shares of the pipeline company’s stock worth $742,555,000 after purchasing an additional 41,030,376 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Kinder Morgan by 1,352.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,803,132 shares of the pipeline company’s stock worth $665,401,000 after purchasing an additional 34,269,435 shares during the period. Norges Bank acquired a new stake in shares of Kinder Morgan during the fourth quarter worth about $256,613,000. Renaissance Technologies LLC acquired a new stake in shares of Kinder Morgan during the first quarter worth about $69,969,000. Finally, Macquarie Group Ltd. raised its position in Kinder Morgan by 38.3% in the 2nd quarter. Macquarie Group Ltd. now owns 10,265,691 shares of the pipeline company’s stock valued at $124,820,000 after buying an additional 2,845,288 shares during the last quarter. Institutional investors and hedge funds own 62.33% of the company’s stock.
Kinder Morgan Trading Up 1.3 %
Shares of KMI stock opened at $16.80 on Friday. The stock has a market cap of $37.43 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 5.05 and a beta of 0.96. The stock has a 50-day moving average of $17.36 and a 200-day moving average of $17.13. The company has a current ratio of 0.49, a quick ratio of 0.38 and a debt-to-equity ratio of 0.90. Kinder Morgan, Inc. has a 1-year low of $16.00 and a 1-year high of $19.35.
Kinder Morgan Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a dividend of $0.2825 per share. The ex-dividend date was Friday, July 28th. This represents a $1.13 annualized dividend and a yield of 6.73%. Kinder Morgan’s dividend payout ratio is currently 101.80%.
Insider Buying and Selling
In related news, VP Sital K. Mody sold 55,849 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $17.36, for a total transaction of $969,538.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Kinder Morgan news, VP Sital K. Mody sold 55,849 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $17.36, for a total value of $969,538.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John W. Schlosser sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $18.00, for a total value of $135,000.00. Following the completion of the sale, the vice president now directly owns 12,219 shares of the company’s stock, valued at approximately $219,942. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of brokerages recently issued reports on KMI. Wolfe Research raised Kinder Morgan from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, July 12th. Barclays reduced their price target on Kinder Morgan from $20.00 to $19.00 in a research note on Tuesday, July 18th. StockNews.com initiated coverage on Kinder Morgan in a report on Thursday, August 17th. They issued a “hold” rating for the company. Stifel Nicolaus lifted their price objective on Kinder Morgan from $21.00 to $22.00 and gave the company a “hold” rating in a report on Tuesday, August 1st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $20.00 price objective on shares of Kinder Morgan in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Kinder Morgan has a consensus rating of “Hold” and an average price target of $20.22.
About Kinder Morgan
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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