TRUE Private Wealth Advisors acquired a new stake in shares of Kinder Morgan Inc (NYSE:KMI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,237 shares of the pipeline company’s stock, valued at approximately $130,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KMI. Clearbridge Investments LLC increased its position in shares of Kinder Morgan by 54.6% during the first quarter. Clearbridge Investments LLC now owns 29,164,247 shares of the pipeline company’s stock valued at $583,577,000 after purchasing an additional 10,302,503 shares during the period. Geode Capital Management LLC increased its position in shares of Kinder Morgan by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 23,513,119 shares of the pipeline company’s stock valued at $360,962,000 after purchasing an additional 1,758,792 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Kinder Morgan by 144.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,346,407 shares of the pipeline company’s stock valued at $46,952,000 after purchasing an additional 1,386,053 shares during the period. Chickasaw Capital Management LLC increased its position in shares of Kinder Morgan by 19.5% during the second quarter. Chickasaw Capital Management LLC now owns 7,600,590 shares of the pipeline company’s stock valued at $158,700,000 after purchasing an additional 1,241,720 shares during the period. Finally, State of Tennessee Treasury Department increased its position in shares of Kinder Morgan by 156.6% during the first quarter. State of Tennessee Treasury Department now owns 1,993,382 shares of the pipeline company’s stock valued at $39,887,000 after purchasing an additional 1,216,450 shares during the period. Institutional investors and hedge funds own 62.82% of the company’s stock.
Kinder Morgan stock traded up $0.18 on Friday, reaching $20.06. The company’s stock had a trading volume of 160,751 shares, compared to its average volume of 15,444,736. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.33 and a current ratio of 0.41. The company has a market cap of $46.43 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 4.30 and a beta of 0.86. The business’s fifty day moving average price is $20.68 and its 200 day moving average price is $20.03. Kinder Morgan Inc has a twelve month low of $14.62 and a twelve month high of $21.50.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.59 billion. Kinder Morgan had a return on equity of 6.23% and a net margin of 16.50%. Kinder Morgan’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. As a group, equities analysts forecast that Kinder Morgan Inc will post 0.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Tuesday, July 30th. Kinder Morgan’s dividend payout ratio is currently 112.36%.
A number of analysts have recently issued reports on the company. Raymond James cut Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 price objective on the stock. in a research report on Wednesday, June 26th. ValuEngine cut Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Zacks Investment Research reiterated a “buy” rating and issued a $23.00 price target on shares of Kinder Morgan in a research report on Saturday, June 29th. Stifel Nicolaus cut Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research report on Monday, June 17th. Finally, Johnson Rice started coverage on Kinder Morgan in a research report on Thursday, May 30th. They issued a “hold” rating and a $21.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $21.75.
In other Kinder Morgan news, insider Richard D. Kinder acquired 300,000 shares of Kinder Morgan stock in a transaction on Wednesday, May 29th. The shares were bought at an average price of $19.68 per share, with a total value of $5,904,000.00. Following the completion of the purchase, the insider now owns 241,179,496 shares in the company, valued at $4,746,412,481.28. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 13.95% of the stock is currently owned by insiders.
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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