River Road Asset Management LLC bought a new stake in Kinder Morgan Inc (NYSE:KMI) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 869,605 shares of the pipeline company’s stock, valued at approximately $15,418,000.
Several other institutional investors also recently modified their holdings of the company. Starr International Co. Inc. raised its stake in Kinder Morgan by 36.0% during the second quarter. Starr International Co. Inc. now owns 198,576 shares of the pipeline company’s stock worth $3,509,000 after acquiring an additional 52,599 shares during the period. Paloma Partners Management Co raised its stake in Kinder Morgan by 14.3% during the second quarter. Paloma Partners Management Co now owns 84,323 shares of the pipeline company’s stock worth $1,490,000 after acquiring an additional 10,541 shares during the period. Renaissance Technologies LLC acquired a new stake in Kinder Morgan during the second quarter worth about $24,035,000. Millennium Management LLC raised its stake in Kinder Morgan by 81.4% during the second quarter. Millennium Management LLC now owns 3,673,782 shares of the pipeline company’s stock worth $64,916,000 after acquiring an additional 1,648,737 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in Kinder Morgan by 6.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 7,546,169 shares of the pipeline company’s stock worth $133,341,000 after acquiring an additional 442,152 shares during the period. Institutional investors and hedge funds own 60.52% of the company’s stock.
NYSE KMI opened at $17.26 on Tuesday. Kinder Morgan Inc has a 52 week low of $14.69 and a 52 week high of $19.83. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $37.19 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.28 and a beta of 0.69.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Kinder Morgan had a net margin of 0.78% and a return on equity of 5.51%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $0.15 earnings per share. As a group, equities analysts expect that Kinder Morgan Inc will post 0.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Tuesday, October 30th. Kinder Morgan’s dividend payout ratio (DPR) is presently 121.21%.
Several equities research analysts recently weighed in on KMI shares. Barclays set a $21.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a research note on Friday, October 12th. JPMorgan Chase & Co. increased their price objective on shares of Kinder Morgan from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Goldman Sachs Group started coverage on shares of Kinder Morgan in a research note on Monday, October 8th. They set a “conviction-buy” rating and a $24.00 price objective on the stock. Credit Suisse Group started coverage on shares of Kinder Morgan in a research note on Thursday, October 11th. They set an “outperform” rating and a $23.00 price objective on the stock. Finally, ValuEngine upgraded shares of Kinder Morgan from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $20.73.
In related news, insider Richard D. Kinder acquired 500,000 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was acquired at an average cost of $17.55 per share, for a total transaction of $8,775,000.00. Following the completion of the acquisition, the insider now directly owns 235,212,353 shares of the company’s stock, valued at approximately $4,127,976,795.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 14.16% of the company’s stock.
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Kinder Morgan Company Profile
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.
Further Reading: Cash Flow
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