Deltec Asset Management LLC reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 68.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,000 shares of the pipeline company’s stock after selling 65,340 shares during the quarter. Deltec Asset Management LLC’s holdings in Kinder Morgan were worth $575,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Heritage Trust Co grew its stake in shares of Kinder Morgan by 457.7% during the 2nd quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock worth $101,000 after acquiring an additional 4,302 shares during the period. Fiduciary Trust Co. bought a new position in Kinder Morgan in the 2nd quarter worth about $115,000. Acrospire Investment Management LLC raised its holdings in shares of Kinder Morgan by 30.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock valued at $131,000 after acquiring an additional 1,600 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Kinder Morgan by 14.0% in the 2nd quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock valued at $136,000 after acquiring an additional 819 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in Kinder Morgan by 10.3% during the 2nd quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock worth $138,000 after acquiring an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 59.09% of the company’s stock.
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Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.21 billion. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.33%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted ($0.10) earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors 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 yield of 2.83%. Kinder Morgan’s dividend payout ratio (DPR) is currently 89.29%.
Kinder Morgan declared that its Board of Directors has authorized a share buyback plan on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts recently weighed in on KMI shares. BidaskClub lowered Kinder Morgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Stifel Nicolaus decreased their price target on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, October 24th. Jefferies Group LLC restated a “hold” rating and issued a $20.00 price target on shares of Kinder Morgan in a research note on Thursday, July 20th. Mizuho reiterated a “hold” rating and set a $22.00 price objective on shares of Kinder Morgan in a research report on Friday, October 20th. Finally, Zacks Investment Research cut Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given 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 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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