HL Financial Services LLC lessened its position in Kinder Morgan, Inc. (NYSE:KMI) by 11.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,641 shares of the pipeline company’s stock after selling 6,715 shares during the quarter. HL Financial Services LLC’s holdings in Kinder Morgan were worth $990,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in KMI. FDx Advisors Inc. increased its holdings in shares of Kinder Morgan by 12.5% during the 3rd quarter. FDx Advisors Inc. now owns 127,735 shares of the pipeline company’s stock worth $2,450,000 after purchasing an additional 14,152 shares during the period. Alps Advisors Inc. increased its holdings in shares of Kinder Morgan by 1.5% during the 3rd quarter. Alps Advisors Inc. now owns 335,484 shares of the pipeline company’s stock worth $6,435,000 after purchasing an additional 5,068 shares during the period. Pitcairn Co. increased its holdings in shares of Kinder Morgan by 35.9% during the 3rd quarter. Pitcairn Co. now owns 39,025 shares of the pipeline company’s stock worth $749,000 after purchasing an additional 10,299 shares during the period. Bessemer Group Inc. increased its holdings in shares of Kinder Morgan by 56.6% during the 3rd quarter. Bessemer Group Inc. now owns 703,729 shares of the pipeline company’s stock worth $13,497,000 after purchasing an additional 254,231 shares during the period. Finally, Bradley Foster & Sargent Inc. CT increased its holdings in shares of Kinder Morgan by 96.0% during the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 286,683 shares of the pipeline company’s stock worth $5,499,000 after purchasing an additional 140,400 shares during the period. Hedge funds and other institutional investors own 59.03% of the company’s stock.
KMI has been the topic of several research reports. BMO Capital Markets restated a “buy” rating and set a $26.00 price objective on shares of Kinder Morgan in a report on Friday, July 28th. Raymond James Financial, Inc. restated a “buy” rating on shares of Kinder Morgan in a report on Saturday, July 22nd. Stifel Nicolaus set a $25.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a report on Thursday, August 17th. SunTrust Banks, Inc. set a $23.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $23.03.
Shares of Kinder Morgan, Inc. (NYSE:KMI) traded down $0.06 during mid-day trading on Monday, hitting $17.62. 1,568,929 shares of the stock were exchanged, compared to its average volume of 11,314,384. Kinder Morgan, Inc. has a 12 month low of $17.59 and a 12 month high of $23.01. The firm has a market capitalization of $39,461.35, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.37 and a beta of 0.65. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.35.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.15. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.33%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period in the prior year, the business earned ($0.10) earnings per share. Kinder Morgan’s quarterly revenue was down 1.5% on a year-over-year basis. equities research analysts anticipate that Kinder Morgan, Inc. will post 0.64 earnings per share for the current year.
Kinder Morgan declared that its Board of Directors has initiated a share buyback program on Wednesday, July 19th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.84%. Kinder Morgan’s payout ratio is 89.29%.
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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