Qsemble Capital Management LP bought a new position in Kinder Morgan, Inc. (NYSE:KMI – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 57,781 shares of the pipeline company’s stock, valued at approximately $1,847,000.
Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Kinder Morgan by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 210,281,448 shares of the pipeline company’s stock valued at $5,780,637,000 after buying an additional 2,165,130 shares during the period. State Street Corp grew its position in shares of Kinder Morgan by 2.2% during the 4th quarter. State Street Corp now owns 116,860,317 shares of the pipeline company’s stock valued at $3,212,490,000 after acquiring an additional 2,510,601 shares during the period. Bank of America Corp DE increased its stake in shares of Kinder Morgan by 1.4% in the 1st quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company’s stock worth $2,079,477,000 after purchasing an additional 836,571 shares in the last quarter. Norges Bank bought a new position in Kinder Morgan in the 4th quarter worth $1,132,125,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Kinder Morgan by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,104,829 shares of the pipeline company’s stock worth $827,582,000 after purchasing an additional 195,088 shares during the period. 62.52% of the stock is currently owned by institutional investors.
Kinder Morgan Trading Up 2.3%
KMI stock opened at $32.83 on Friday. The firm has a fifty day moving average price of $31.99 and a 200 day moving average price of $32.24. Kinder Morgan, Inc. has a fifty-two week low of $25.60 and a fifty-two week high of $34.81. The firm has a market cap of $73.09 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 2.64 and a beta of 0.54. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.36 and a current ratio of 0.46.
Kinder Morgan Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be given a $0.2975 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.19 annualized dividend and a yield of 3.6%. Kinder Morgan’s dividend payout ratio (DPR) is currently 76.28%.
Analyst Ratings Changes
Several research analysts have recently commented on KMI shares. Wells Fargo & Company raised their price objective on Kinder Morgan from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. UBS Group reissued a “buy” rating and issued a $43.00 target price on shares of Kinder Morgan in a report on Monday, June 15th. Zacks Research downgraded shares of Kinder Morgan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Wolfe Research cut shares of Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, June 10th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kinder Morgan currently has an average rating of “Hold” and a consensus target price of $35.50.
Insider Activity at Kinder Morgan
In other Kinder Morgan news, VP Michael P. Garthwaite sold 1,550 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total transaction of $48,732.00. Following the sale, the vice president directly owned 41,743 shares in the company, valued at $1,312,399.92. This represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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, July 6th. The shares were sold at an average price of $31.90, for a total value of $196,695.40. Following the completion of the sale, the vice president directly owned 164,208 shares of the company’s stock, valued at $5,238,235.20. The trade was a 3.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,432 shares of company stock worth $493,849 over the last three months. 12.72% of the stock is currently owned by insiders.
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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