Barton Investment Management purchased a new position in Kinder Morgan, Inc. (NYSE:KMI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,000 shares of the pipeline company’s stock, valued at approximately $480,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Heritage Trust Co boosted its position in shares of Kinder Morgan by 457.7% in the second quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock worth $101,000 after purchasing an additional 4,302 shares during the period. Fiduciary Trust Co. bought a new position in shares of Kinder Morgan in the second quarter worth approximately $115,000. Acrospire Investment Management LLC boosted its position in shares of Kinder Morgan by 30.7% in the second quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock worth $131,000 after purchasing an additional 1,600 shares during the period. Parallel Advisors LLC boosted its position in shares of Kinder Morgan by 14.0% in the second quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock worth $136,000 after purchasing an additional 819 shares during the period. Finally, Trust Co. of Vermont boosted its position in shares of Kinder Morgan by 10.3% in the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock worth $138,000 after purchasing an additional 675 shares during the period. Institutional investors and hedge funds own 59.09% of the company’s stock.
A number of brokerages recently weighed in on KMI. Stifel Nicolaus dropped their target price on shares of Kinder Morgan from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. Zacks Investment Research lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Mizuho restated a “hold” rating and set a $22.00 target price on shares of Kinder Morgan in a research report on Friday, October 20th. SunTrust Banks, Inc. set a $23.00 target price on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Kinder Morgan from a “buy” rating to a “neutral” rating and upped their target price for the stock from $18.81 to $22.00 in a research report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $23.03.
Kinder Morgan, Inc. (NYSE KMI) traded up 0.690% during trading on Wednesday, reaching $18.235. 5,208,154 shares of the company’s stock traded hands. Kinder Morgan, Inc. has a one year low of $17.82 and a one year high of $23.01. The firm has a market capitalization of $40.72 billion, a PE ratio of 60.182 and a beta of 0.65. The company has a 50-day moving average price of $18.92 and a 200 day moving average price of $19.39.
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 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 analysts’ expectations of $3.21 billion. During the same quarter in the previous year, the company posted ($0.10) EPS. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts anticipate that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
Kinder Morgan announced that its Board of Directors has initiated a stock repurchase program on Wednesday, July 19th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the pipeline company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.50 annualized dividend and a yield of 2.76%. Kinder Morgan’s dividend payout ratio (DPR) is presently 89.29%.
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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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