OLD National Bancorp IN Has $391,000 Stake in Kinder Morgan, Inc. (KMI)

OLD National Bancorp IN cut its position in Kinder Morgan, Inc. (NYSE:KMI) by 23.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,377 shares of the pipeline company’s stock after selling 6,354 shares during the quarter. OLD National Bancorp IN’s holdings in Kinder Morgan were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Heritage Trust Co boosted its stake in Kinder Morgan by 457.7% during the 2nd quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock valued at $101,000 after acquiring an additional 4,302 shares during the last quarter. Fiduciary Trust Co. bought a new position in Kinder Morgan during the 2nd quarter valued at $115,000. Acrospire Investment Management LLC boosted its stake in Kinder Morgan by 30.7% during 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 during the last quarter. Parallel Advisors LLC boosted its stake in Kinder Morgan by 14.0% during 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 during the last quarter. Finally, Trust Co. of Vermont boosted its stake 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 valued at $138,000 after acquiring an additional 675 shares during the last quarter. Institutional investors and hedge funds own 59.09% of the company’s stock.

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A number of research firms have recently issued reports on KMI. Stifel Nicolaus reduced their price target on shares of Kinder Morgan from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. Goldman Sachs Group, Inc. (The) downgraded shares of Kinder Morgan from a “buy” rating to a “neutral” rating and raised their price target for the stock from $18.81 to $22.00 in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. SunTrust Banks, Inc. set a $23.00 price target on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Citigroup Inc. reduced their price target on shares of Kinder Morgan from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. Kinder Morgan has an average rating of “Hold” and a consensus price target of $23.03.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data 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. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.21 billion. Kinder Morgan had a return on equity of 4.33% and a net margin of 10.39%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.10) EPS.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued 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 2.81%. Kinder Morgan’s dividend payout ratio is currently 89.29%.

Kinder Morgan announced that its Board of Directors has authorized a stock buyback program on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to repurchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.

Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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