Westbourne Investment Advisors Inc. purchased a new stake in shares of Kinder Morgan Inc (NYSE:KMI) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,585 shares of the pipeline company’s stock, valued at approximately $117,000.
Other large investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in Kinder Morgan during the 2nd quarter valued at $110,000. Landaas & Co. WI ADV purchased a new stake in Kinder Morgan during the 2nd quarter valued at $133,000. First Hawaiian Bank purchased a new stake in Kinder Morgan during the 3rd quarter valued at $164,000. Mount Yale Investment Advisors LLC purchased a new stake in Kinder Morgan during the 1st quarter valued at $144,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in Kinder Morgan by 100.0% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 10,000 shares of the pipeline company’s stock valued at $177,000 after buying an additional 5,000 shares during the period. Institutional investors own 60.35% of the company’s stock.
Several analysts recently weighed in on KMI shares. Citigroup decreased their price target on Kinder Morgan from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, July 20th. Wells Fargo & Co restated a “buy” rating on shares of Kinder Morgan in a report on Thursday, July 19th. US Capital Advisors restated a “buy” rating on shares of Kinder Morgan in a report on Tuesday, July 17th. Stifel Nicolaus increased their price target on Kinder Morgan from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Finally, Barclays set a $21.00 price target on Kinder Morgan and gave the company a “buy” rating in a report on Friday, October 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Kinder Morgan has a consensus rating of “Buy” and an average target price of $20.81.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. Kinder Morgan had a return on equity of 5.52% and a net margin of 0.78%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm posted $0.15 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts predict that Kinder Morgan Inc will post 0.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st will be paid a $0.20 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.46%. Kinder Morgan’s payout ratio is 121.21%.
In other news, Director William A. Smith purchased 5,556 shares of the business’s stock in a transaction dated Thursday, July 26th. The shares were purchased at an average price of $18.09 per share, for a total transaction of $100,508.04. Following the completion of the purchase, the director now owns 14,587 shares in the company, valued at approximately $263,878.83. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard D. Kinder purchased 500,000 shares of the business’s stock in a transaction dated Thursday, September 27th. The shares were purchased at an average price of $17.55 per share, for a total transaction of $8,775,000.00. Following the purchase, the insider now owns 235,212,353 shares of the company’s stock, valued at approximately $4,127,976,795.15. The disclosure for this purchase can be found here. Company insiders own 14.16% of the company’s stock.
About Kinder Morgan
Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and storage systems; natural gas and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.
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