MidWestOne Financial Group Inc. Reduces Holdings in Kinder Morgan Inc (NYSE:KMI)

MidWestOne Financial Group Inc. lessened its position in shares of Kinder Morgan Inc (NYSE:KMI) by 9.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,831 shares of the pipeline company’s stock after selling 1,076 shares during the period. MidWestOne Financial Group Inc.’s holdings in Kinder Morgan were worth $151,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fiduciary Financial Services of The Southwest Inc. TX lifted its position in shares of Kinder Morgan by 1.0% during the 4th quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 56,766 shares of the pipeline company’s stock valued at $1,202,000 after buying an additional 553 shares during the last quarter. Coastal Investment Advisors Inc. lifted its position in shares of Kinder Morgan by 10.4% during the 4th quarter. Coastal Investment Advisors Inc. now owns 5,907 shares of the pipeline company’s stock valued at $119,000 after buying an additional 555 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its position in shares of Kinder Morgan by 0.7% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 89,429 shares of the pipeline company’s stock valued at $1,893,000 after buying an additional 604 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Kinder Morgan by 6.9% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,601 shares of the pipeline company’s stock valued at $203,000 after buying an additional 622 shares during the last quarter. Finally, 9258 Wealth Management LLC lifted its position in shares of Kinder Morgan by 3.9% during the 4th quarter. 9258 Wealth Management LLC now owns 17,123 shares of the pipeline company’s stock valued at $362,000 after buying an additional 643 shares during the last quarter. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of KMI traded down $0.62 during mid-day trading on Tuesday, reaching $17.35. The company’s stock had a trading volume of 4,976,226 shares, compared to its average volume of 11,588,657. The stock has a market cap of $37.81 billion, a PE ratio of 30.98, a P/E/G ratio of 6.50 and a beta of 1.05. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 0.94. Kinder Morgan Inc has a 52 week low of $9.42 and a 52 week high of $22.58. The company’s fifty day moving average price is $15.28 and its two-hundred day moving average price is $18.07.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, April 22nd. The pipeline company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.03). The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.41 billion. Kinder Morgan had a return on equity of 6.24% and a net margin of 10.31%. The company’s revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Research analysts anticipate that Kinder Morgan Inc will post 0.86 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a dividend yield of 6.05%. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, May 1st. Kinder Morgan’s payout ratio is presently 110.53%.

Several research analysts have commented on KMI shares. Citigroup cut their target price on Kinder Morgan from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, May 20th. Royal Bank of Canada reaffirmed a “hold” rating and set a $19.00 price objective on shares of Kinder Morgan in a research note on Tuesday, April 21st. ValuEngine raised shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Thursday, March 5th. TD Securities reduced their price objective on shares of Kinder Morgan from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $18.00 price objective on shares of Kinder Morgan in a research note on Thursday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Kinder Morgan presently has an average rating of “Buy” and a consensus target price of $19.21.

In other news, Director William A. Smith purchased 6,500 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was bought at an average cost of $15.35 per share, for a total transaction of $99,775.00. Following the acquisition, the director now directly owns 21,087 shares of the company’s stock, valued at approximately $323,685.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Richard D. Kinder purchased 500,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were purchased at an average price of $14.25 per share, with a total value of $7,125,000.00. Insiders own 14.19% of the company’s stock.

Kinder Morgan Company Profile

Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 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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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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