Tortoise Capital Advisors L.L.C. raised its holdings in Kinder Morgan Inc (NYSE:KMI) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,908,625 shares of the pipeline company’s stock after buying an additional 1,373,610 shares during the quarter. Kinder Morgan comprises 1.7% of Tortoise Capital Advisors L.L.C.’s investment portfolio, making the stock its 23rd largest position. Tortoise Capital Advisors L.L.C. owned approximately 0.62% of Kinder Morgan worth $266,767,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of KMI. Heritage Trust Co boosted its position in shares of Kinder Morgan by 457.7% during the second 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. Welch Investments LLC bought a new stake in shares of Kinder Morgan during the third quarter valued at approximately $102,000. Valeo Financial Advisors LLC bought a new stake in shares of Kinder Morgan during the third quarter valued at approximately $104,000. Fiduciary Trust Co. bought a new stake in shares of Kinder Morgan during the second quarter valued at approximately $115,000. Finally, Parallel Advisors LLC boosted its position in shares of Kinder Morgan by 14.0% during the second 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. Hedge funds and other institutional investors own 60.88% of the company’s stock.
In other Kinder Morgan news, VP Thomas A. Martin purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was purchased at an average price of $17.10 per share, for a total transaction of $51,300.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.99% of the stock is owned by insiders.
Kinder Morgan Inc (NYSE KMI) traded up $0.06 during mid-day trading on Thursday, hitting $17.91. The stock had a trading volume of 3,146,656 shares, compared to its average volume of 11,633,114. Kinder Morgan Inc has a 52-week low of $16.68 and a 52-week high of $23.01. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $39,640.01, a PE ratio of 27.31, a P/E/G ratio of 1.38 and a beta of 0.62.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Kinder Morgan had a return on equity of 4.33% and a net margin of 10.39%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The company’s revenue was down 1.5% on a year-over-year basis. analysts expect that Kinder Morgan Inc will post 0.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Monday, October 30th. Kinder Morgan’s dividend payout ratio is currently 89.29%.
Several equities research analysts recently weighed in on the company. Stifel Nicolaus set a $25.00 price target on Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, August 17th. BidaskClub cut Kinder Morgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 16th. Mizuho reiterated a “hold” rating and set a $22.00 price objective on shares of Kinder Morgan in a research note on Friday, October 20th. BMO Capital Markets set a $26.00 price objective on Kinder Morgan and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Kinder Morgan in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Kinder Morgan has an average rating of “Hold” and a consensus target price of $22.97.
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Kinder Morgan Company Profile
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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