Titleist Asset Management LLC acquired a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 34,107 shares of the pipeline company’s stock, valued at approximately $597,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in KMI. Moneta Group Investment Advisors LLC increased its holdings in Kinder Morgan by 102,208.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 41,070,520 shares of the pipeline company’s stock valued at $742,555,000 after acquiring an additional 41,030,376 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Kinder Morgan by 1,352.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,803,132 shares of the pipeline company’s stock worth $665,401,000 after buying an additional 34,269,435 shares in the last quarter. Norges Bank bought a new stake in shares of Kinder Morgan in the 4th quarter worth about $256,613,000. Ensign Peak Advisors Inc lifted its holdings in shares of Kinder Morgan by 53.4% in the 1st quarter. Ensign Peak Advisors Inc now owns 15,792,680 shares of the pipeline company’s stock valued at $276,530,000 after acquiring an additional 5,495,005 shares during the last quarter. Finally, Providence Capital Advisors LLC grew its position in Kinder Morgan by 1,814.9% in the first quarter. Providence Capital Advisors LLC now owns 4,622,640 shares of the pipeline company’s stock worth $264,000,000 after acquiring an additional 4,381,240 shares in the last quarter. 62.33% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Kinder Morgan
In other Kinder Morgan news, VP John W. Schlosser sold 7,500 shares of the stock in a transaction dated Monday, July 24th. The stock was 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 in the company, valued at $219,942. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Kinder Morgan news, 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 transaction of $135,000.00. Following the completion of the transaction, the vice president now directly owns 12,219 shares of the company’s stock, valued at approximately $219,942. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sital K. Mody sold 55,849 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $17.36, for a total transaction of $969,538.64. The disclosure for this sale can be found here. 12.64% of the stock is owned by insiders.
Kinder Morgan Stock Performance
Kinder Morgan (NYSE:KMI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Kinder Morgan had a return on equity of 7.79% and a net margin of 14.65%. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $4.55 billion. During the same period last year, the business posted $0.27 EPS. The business’s revenue was down 32.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.1 EPS for the current fiscal year.
Kinder Morgan Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were given a dividend of $0.2825 per share. The ex-dividend date of this dividend was Friday, July 28th. This represents a $1.13 dividend on an annualized basis and a yield of 6.59%. Kinder Morgan’s payout ratio is 101.80%.
Analyst Ratings Changes
Several research firms have commented on KMI. Barclays dropped their price objective on shares of Kinder Morgan from $20.00 to $19.00 in a research note on Tuesday, July 18th. Wolfe Research raised Kinder Morgan from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, July 12th. Stifel Nicolaus boosted 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. StockNews.com initiated coverage on Kinder Morgan in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $20.00 target price on shares of Kinder Morgan in a research note on Thursday, July 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.22.
Check Out Our Latest Stock Report on Kinder Morgan
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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