Jacobus Wealth Management Inc. reduced its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 10.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 156,406 shares of the pipeline company’s stock after selling 17,650 shares during the quarter. Jacobus Wealth Management Inc.’s holdings in Kinder Morgan were worth $3,000,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of KMI. Heritage Trust Co raised its holdings 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 buying an additional 4,302 shares during the period. Fiduciary Trust Co. purchased a new stake in Kinder Morgan during the 2nd quarter valued at $115,000. Acrospire Investment Management LLC raised its holdings 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 buying an additional 1,600 shares during the period. Parallel Advisors LLC raised its holdings 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 buying an additional 819 shares during the period. Finally, Trust Co. of Vermont raised its holdings 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 buying an additional 675 shares during the period. Hedge funds and other institutional investors own 59.09% of the company’s stock.
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Several analysts recently weighed in on KMI shares. Stifel Nicolaus decreased their price target on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, October 24th. Goldman Sachs Group, Inc. (The) lowered Kinder Morgan from a “buy” rating to a “neutral” rating and increased their target price for the stock from $18.81 to $22.00 in a research note on Tuesday, October 17th. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. SunTrust Banks, Inc. set a $23.00 target price on Kinder Morgan and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, Citigroup Inc. reduced their target price on Kinder Morgan from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $23.03.
Shares of Kinder Morgan, Inc. (KMI) traded down $0.06 during mid-day trading on Friday, reaching $17.74. The company had a trading volume of 13,034,135 shares, compared to its average volume of 12,150,642. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.35 and a current ratio of 0.42. The company has a market capitalization of $39,617.68, a P/E ratio of 27.29, a P/E/G ratio of 1.38 and a beta of 0.65. Kinder Morgan, Inc. has a 12 month low of $17.59 and a 12 month high of $23.01.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.15. The business 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 business’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) earnings per share. sell-side analysts predict that Kinder Morgan, Inc. will post 0.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.50 annualized dividend and a dividend yield of 2.82%. Kinder Morgan’s dividend payout ratio is currently 89.29%.
Kinder Morgan declared that its board has initiated a stock 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 reacquire up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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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