Alps Advisors Inc. raised its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 335,484 shares of the pipeline company’s stock after acquiring an additional 5,068 shares during the quarter. Alps Advisors Inc.’s holdings in Kinder Morgan were worth $6,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Heritage Trust Co grew its position in shares of Kinder Morgan by 457.7% during the 2nd quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock valued at $101,000 after purchasing an additional 4,302 shares in the last quarter. Fiduciary Trust Co. purchased a new position in shares of Kinder Morgan during the 2nd quarter valued at $115,000. Acrospire Investment Management LLC grew its position in shares of Kinder Morgan by 30.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock valued at $131,000 after purchasing an additional 1,600 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Kinder Morgan by 14.0% during the 2nd quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock valued at $136,000 after purchasing an additional 819 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in shares of Kinder Morgan by 10.3% during the 2nd quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock valued at $138,000 after purchasing an additional 675 shares in the last quarter. 59.13% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Kinder Morgan, Inc. (NYSE:KMI) traded down $0.24 during trading hours on Friday, hitting $17.67. 9,151,700 shares of the stock traded hands, compared to its average volume of 12,931,414. The company has a market capitalization of $39,461.35, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 1.37 and a beta of 0.65. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.96. Kinder Morgan, Inc. has a 52-week low of $17.59 and a 52-week high of $23.01.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.21 billion. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.33%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) earnings per share. equities research analysts expect that Kinder Morgan, Inc. will post 0.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, October 30th. Kinder Morgan’s dividend payout ratio (DPR) is 89.29%.
Kinder Morgan declared that its Board of Directors has approved a stock repurchase plan on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
KMI has been the subject of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating on shares of Kinder Morgan in a research report on Tuesday, September 5th. Goldman Sachs Group, Inc. (The) lowered shares of Kinder Morgan from a “buy” rating to a “neutral” rating and boosted their price target for the company from $18.81 to $22.00 in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. Finally, BMO Capital Markets restated a “buy” rating and set a $26.00 price target on shares of Kinder Morgan in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Kinder Morgan has a consensus rating of “Hold” and a consensus price target of $23.03.
About Kinder Morgan
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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