Tortoise Capital Advisors L.L.C. boosted its position in Kinder Morgan, Inc. (NYSE:KMI) by 727.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 16,387,829 shares of the pipeline company’s stock after purchasing an additional 14,407,800 shares during the period. Kinder Morgan comprises 4.6% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 8th largest position. Tortoise Capital Advisors L.L.C. owned about 0.72% of Kinder Morgan worth $272,857,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Westside Investment Management Inc. bought a new position in shares of Kinder Morgan during the first quarter worth approximately $15,734,000. Harbour Investments Inc. acquired a new position in shares of Kinder Morgan during the first quarter worth $25,000. Certified Advisory Corp acquired a new position in shares of Kinder Morgan during the first quarter worth $27,000. Loomis Sayles & Co. L P lifted its holdings in shares of Kinder Morgan by 64.9% during the first quarter. Loomis Sayles & Co. L P now owns 1,707 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 672 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Kinder Morgan by 368.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,721 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 1,354 shares during the period. Institutional investors and hedge funds own 59.43% of the company’s stock.
Shares of KMI stock traded down $0.29 during trading hours on Thursday, reaching $17.56. The company had a trading volume of 382,065 shares, compared to its average volume of 10,548,166. The business has a fifty day moving average of $18.39. Kinder Morgan, Inc. has a one year low of $11.45 and a one year high of $19.29. The firm has a market capitalization of $39.77 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 4.76 and a beta of 1.14. The company has a current ratio of 0.81, a quick ratio of 0.72 and a debt-to-equity ratio of 0.95.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Monday, August 2nd will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 6.15%. Kinder Morgan’s dividend payout ratio is currently 122.73%.
In related news, VP John W. Schlosser sold 1,500 shares of the business’s stock in a transaction on Friday, June 25th. The shares were sold at an average price of $18.23, for a total value of $27,345.00. Following the sale, the vice president now owns 42,219 shares in the company, valued at $769,652.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John W. Schlosser sold 4,500 shares of the business’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $18.00, for a total transaction of $81,000.00. Following the transaction, the vice president now owns 45,219 shares in the company, valued at approximately $813,942. The disclosure for this sale can be found here. Insiders have sold 7,500 shares of company stock worth $136,410 in the last ninety days. Insiders own 14.22% of the company’s stock.
A number of brokerages recently weighed in on KMI. Citigroup lifted their target price on shares of Kinder Morgan from $15.50 to $17.00 in a research note on Tuesday, April 27th. TheStreet upgraded shares of Kinder Morgan from a “c+” rating to a “b” rating in a report on Wednesday, April 21st. Piper Sandler boosted their target price on shares of Kinder Morgan from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, June 17th. Morgan Stanley cut shares of Kinder Morgan from an “equal weight” rating to an “underweight” rating and set a $18.00 price target on the stock. in a research note on Wednesday, May 26th. Finally, The Goldman Sachs Group cut shares of Kinder Morgan from a “neutral” rating to a “sell” rating in a research note on Sunday, June 13th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. Kinder Morgan currently has an average rating of “Hold” and a consensus target price of $16.93.
Kinder Morgan Company Profile
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 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 liquefaction and storage facilities.
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