Nomura Asset Management Co. Ltd. raised its holdings in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 715,359 shares of the pipeline company’s stock after acquiring an additional 16,903 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Kinder Morgan were worth $19,665,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Board of the Pension Protection Fund acquired a new stake in Kinder Morgan in the 4th quarter valued at approximately $27,000. Dorato Capital Management acquired a new stake in Kinder Morgan in the 4th quarter valued at approximately $30,000. Basepoint Wealth LLC acquired a new stake in shares of Kinder Morgan during the 4th quarter worth approximately $30,000. Strategic Advocates LLC acquired a new stake in shares of Kinder Morgan during the 3rd quarter worth approximately $32,000. Finally, Torren Management LLC acquired a new stake in shares of Kinder Morgan during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 62.52% of the company’s stock.
Kinder Morgan Price Performance
Kinder Morgan stock opened at $30.85 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.52 and a quick ratio of 0.41. The company has a market capitalization of $68.64 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 2.59 and a beta of 0.56. Kinder Morgan, Inc. has a one year low of $25.60 and a one year high of $34.81. The business has a 50 day simple moving average of $32.65 and a 200 day simple moving average of $30.49.
Kinder Morgan Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a dividend of $0.2975 per share. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.29. The ex-dividend date was Monday, May 4th. This represents a $1.19 annualized dividend and a dividend yield of 3.9%. Kinder Morgan’s dividend payout ratio is 79.87%.
Insider Activity at Kinder Morgan
In related news, VP Michael P. Garthwaite sold 1,550 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $33.65, for a total transaction of $52,157.50. Following the completion of the transaction, the vice president owned 43,293 shares in the company, valued at $1,456,809.45. This trade represents a 3.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $32.93, for a total value of $203,046.38. Following the transaction, the vice president owned 182,706 shares of the company’s stock, valued at $6,016,508.58. This trade represents a 3.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,148 shares of company stock valued at $763,434 in the last 90 days. 12.72% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Mizuho lifted their price objective on Kinder Morgan from $31.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. Scotiabank lifted their price objective on Kinder Morgan from $31.00 to $32.00 and gave the stock a “sector perform” rating in a report on Thursday, March 26th. Zacks Research raised Kinder Morgan from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Wells Fargo & Company lifted their price objective on Kinder Morgan from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Finally, Jefferies Financial Group decreased their price objective on Kinder Morgan from $36.00 to $34.00 and set a “hold” rating on the stock in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Kinder Morgan presently has a consensus rating of “Moderate Buy” and an average price target of $34.20.
Check Out Our Latest Research Report on KMI
Kinder Morgan Profile
Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.
Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.
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