William John Sempolinski acquired a new stake in Kinder Morgan, Inc. (NYSE:KMI – Free Report) during the 2nd quarter, Holdings Channel reports. The firm acquired 28,600 shares of the pipeline company’s stock, valued at approximately $914,000.
A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Kinder Morgan during the fourth quarter worth about $1,132,125,000. Ontario Teachers Pension Plan Board purchased a new position in Kinder Morgan in the 2nd quarter worth approximately $239,397,000. AQR Capital Management LLC boosted its stake in Kinder Morgan by 431.9% in the 3rd quarter. AQR Capital Management LLC now owns 6,569,082 shares of the pipeline company’s stock worth $185,971,000 after purchasing an additional 5,333,986 shares during the period. Merewether Investment Management LP bought a new position in Kinder Morgan in the 2nd quarter worth approximately $138,477,000. Finally, Zimmer Partners LP grew its holdings in Kinder Morgan by 177.8% during the 3rd quarter. Zimmer Partners LP now owns 6,070,100 shares of the pipeline company’s stock valued at $171,845,000 after buying an additional 3,885,000 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.
Kinder Morgan Stock Down 0.6%
Shares of NYSE:KMI opened at $31.42 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.36 and a debt-to-equity ratio of 0.91. Kinder Morgan, Inc. has a 12 month low of $25.60 and a 12 month high of $34.81. The company has a 50-day moving average price of $31.95 and a 200 day moving average price of $32.37. The company has a market cap of $69.97 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 2.24 and a beta of 0.56.
Kinder Morgan Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a dividend of $0.2975 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.19 annualized dividend and a dividend yield of 3.8%. Kinder Morgan’s payout ratio is currently 76.28%.
Insider Activity at Kinder Morgan
In other Kinder Morgan news, VP John W. Schlosser sold 6,166 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $31.90, for a total transaction of $196,695.40. Following the transaction, the vice president owned 164,208 shares in the company, valued at $5,238,235.20. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total transaction of $48,732.00. Following the completion of the sale, the vice president directly owned 41,743 shares in the company, valued at approximately $1,312,399.92. This represents a 3.58% 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 own 12.72% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Kinder Morgan in a report on Wednesday, June 10th. Morgan Stanley set a $38.00 target price on shares of Kinder Morgan in a research note on Wednesday, July 29th. Jefferies Financial Group reiterated a “hold” rating on shares of Kinder Morgan in a report on Thursday, July 23rd. Wells Fargo & Company boosted their price target on shares of Kinder Morgan from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Finally, Zacks Research lowered Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Kinder Morgan presently has a consensus rating of “Hold” and an average price target of $35.50.
Get Our Latest Stock Report on KMI
Kinder Morgan Company 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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