Cambridge Investment Research Advisors Inc. raised its holdings in Kinder Morgan Inc (NYSE:KMI) by 5.3% in the second quarter, Holdings Channel reports. The fund owned 267,546 shares of the pipeline company’s stock after buying an additional 13,401 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Kinder Morgan were worth $4,059,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in KMI. Red Door Wealth Management LLC acquired a new position in shares of Kinder Morgan during the 1st quarter worth approximately $26,000. Truehand Inc acquired a new stake in shares of Kinder Morgan in the second quarter valued at approximately $27,000. Larson Financial Group LLC lifted its position in Kinder Morgan by 161.0% during the second quarter. Larson Financial Group LLC now owns 1,845 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,138 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Kinder Morgan during the first quarter worth $31,000. Finally, AlphaMark Advisors LLC grew its holdings in Kinder Morgan by 240.0% in the 1st quarter. AlphaMark Advisors LLC now owns 2,550 shares of the pipeline company’s stock valued at $35,000 after buying an additional 1,800 shares in the last quarter. 61.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:KMI opened at $14.10 on Friday. The firm has a market capitalization of $32.38 billion, a PE ratio of 201.46, a price-to-earnings-growth ratio of 5.50 and a beta of 1.04. Kinder Morgan Inc has a 1 year low of $9.42 and a 1 year high of $22.58. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.48 and a quick ratio of 0.50. The firm’s 50-day moving average is $14.88 and its two-hundred day moving average is $16.63.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be given a $0.2625 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $1.05 annualized dividend and a yield of 7.45%. Kinder Morgan’s dividend payout ratio is presently 110.53%.
In related news, major shareholder Richard D. Kinder acquired 300,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average price of $14.14 per share, with a total value of $4,242,000.00. Following the completion of the transaction, the insider now owns 244,839,120 shares of the company’s stock, valued at $3,462,025,156.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 14.19% of the company’s stock.
Several research analysts have recently commented on the company. Raymond James reduced their price target on Kinder Morgan from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, April 23rd. Citigroup decreased their price objective on Kinder Morgan from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, May 20th. Morgan Stanley raised their target price on Kinder Morgan from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. SunTrust Banks restated a “buy” rating and issued a $18.00 target price on shares of Kinder Morgan in a research report on Thursday, April 23rd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $19.00 price target on shares of Kinder Morgan in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the stock. Kinder Morgan currently has a consensus rating of “Hold” and a consensus price target of $18.72.
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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