Carnegie Lake Advisors LLC lessened its stake in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 97.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,470 shares of the pipeline company’s stock after selling 56,565 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in Kinder Morgan were worth $44,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quadrant Capital Group LLC grew its position in Kinder Morgan by 0.7% during the third quarter. Quadrant Capital Group LLC now owns 47,788 shares of the pipeline company’s stock worth $1,598,000 after buying an additional 309 shares during the period. Laurel Wealth Advisors LLC boosted its stake in shares of Kinder Morgan by 3.6% during the 3rd quarter. Laurel Wealth Advisors LLC now owns 9,068 shares of the pipeline company’s stock worth $273,000 after acquiring an additional 312 shares in the last quarter. Klingman & Associates LLC boosted its stake in shares of Kinder Morgan by 3.9% during the 1st quarter. Klingman & Associates LLC now owns 8,498 shares of the pipeline company’s stock worth $285,000 after acquiring an additional 319 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings in shares of Kinder Morgan by 72.9% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 778 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 328 shares during the period. Finally, Optivise Advisory Services LLC grew its holdings in shares of Kinder Morgan by 2.9% in the 3rd quarter. Optivise Advisory Services LLC now owns 12,534 shares of the pipeline company’s stock worth $378,000 after acquiring an additional 354 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.
Kinder Morgan Price Performance
KMI stock opened at $29.98 on Monday. Kinder Morgan, Inc. has a 1 year low of $26.03 and a 1 year high of $34.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.55 and a current ratio of 0.67. The stock’s 50 day moving average price is $32.08 and its 200 day moving average price is $32.12. The firm has a market cap of $66.80 billion, a P/E ratio of 18.51, a PEG ratio of 2.09 and a beta of 0.58.
Kinder Morgan (NYSE:KMI – Get Free Report) last announced its earnings results on Wednesday, October 21st. The pipeline company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Kinder Morgan had a return on equity of 10.84% and a net margin of 19.64%. Kinder Morgan’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS. On average, sell-side analysts expect that Kinder Morgan, Inc. will post 1.57 earnings per share for the current fiscal year.
Kinder Morgan Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be given a $0.2975 dividend. This represents a $1.19 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, November 2nd. Kinder Morgan’s dividend payout ratio is currently 73.46%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Melius Research started coverage on Kinder Morgan in a report on Tuesday, September 22nd. They set a “buy” rating and a $38.00 price objective for the company. Argus upped their target price on Kinder Morgan from $36.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Capital One Financial initiated coverage on Kinder Morgan in a research report on Tuesday, September 22nd. They issued an “equal weight” rating and a $36.00 price target for the company. Jefferies Financial Group boosted their price objective on shares of Kinder Morgan from $33.00 to $37.00 and gave the stock a “hold” rating in a research report on Thursday, October 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Kinder Morgan from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Twelve analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kinder Morgan presently has an average rating of “Moderate Buy” and an average target price of $37.15.
View Our Latest Report on Kinder Morgan
Insiders Place Their Bets
In other news, Chairman Richard D. Kinder bought 500,000 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average price of $29.99 per share, with a total value of $14,995,000.00. Following the purchase, the chairman owned 246,712,353 shares of the company’s stock, valued at $7,398,903,466.47. This trade represents a 0.20% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael P. Garthwaite sold 1,550 shares of the company’s stock in a transaction dated Friday, October 16th. The shares were 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 47,313 shares in the company, valued at approximately $1,592,082.45. This trade represents a 3.17% 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. 12.72% of the stock is owned by company insiders.
About Kinder Morgan
Kinder Morgan, Inc (NYSE: KMI) is an energy infrastructure company that transports and stores natural gas, crude oil, refined petroleum products and other energy-related commodities. Its assets include pipelines, terminals and storage facilities serving energy producers, utilities, industrial customers and other markets across the United States and Canada.
The company’s operations include natural gas transportation and storage, refined-products and crude-oil pipelines, bulk and liquids terminals, and carbon dioxide transportation.
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