CIBC Asset Management Inc cut its position in Kinder Morgan Inc (NYSE:KMI) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189,046 shares of the pipeline company’s stock after selling 11,797 shares during the period. CIBC Asset Management Inc’s holdings in Kinder Morgan were worth $3,416,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in KMI. Mackenzie Financial Corp increased its holdings in shares of Kinder Morgan by 307.5% in the third quarter. Mackenzie Financial Corp now owns 2,881,569 shares of the pipeline company’s stock valued at $55,268,000 after purchasing an additional 2,174,518 shares during the period. Maple Brown Abbott Ltd increased its holdings in shares of Kinder Morgan by 46.6% in the fourth quarter. Maple Brown Abbott Ltd now owns 6,772,088 shares of the pipeline company’s stock valued at $122,372,000 after purchasing an additional 2,154,212 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Kinder Morgan by 17.2% in the third quarter. Dimensional Fund Advisors LP now owns 13,950,108 shares of the pipeline company’s stock valued at $267,575,000 after purchasing an additional 2,048,560 shares during the period. Cohen & Steers Inc. increased its holdings in shares of Kinder Morgan by 22.7% in the third quarter. Cohen & Steers Inc. now owns 9,743,540 shares of the pipeline company’s stock valued at $186,881,000 after purchasing an additional 1,801,348 shares during the period. Finally, Tortoise Capital Advisors L.L.C. increased its holdings in shares of Kinder Morgan by 11.0% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 13,908,625 shares of the pipeline company’s stock valued at $266,767,000 after purchasing an additional 1,373,610 shares during the period. 60.57% of the stock is currently owned by institutional investors and hedge funds.
KMI has been the topic of a number of research reports. Stifel Nicolaus cut their price objective on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, October 24th. Zacks Investment Research lowered Kinder Morgan from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Goldman Sachs Group lowered Kinder Morgan from a “buy” rating to a “neutral” rating and increased their price objective for the company from $18.81 to $22.00 in a report on Tuesday, October 17th. Morgan Stanley cut their price objective on Kinder Morgan from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, November 17th. Finally, SunTrust Banks set a $23.00 target price on Kinder Morgan and gave the stock a “buy” rating in a report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $22.72.
Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, January 17th. The pipeline company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.52 billion. Kinder Morgan had a return on equity of 4.38% and a net margin of 1.34%. Kinder Morgan’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. analysts predict that Kinder Morgan Inc will post 0.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.50 dividend on an annualized basis and a yield of 2.89%. Kinder Morgan’s dividend payout ratio is currently 5,000.00%.
In other Kinder Morgan news, Director William A. Smith purchased 5,500 shares of the stock in a transaction on Monday, January 22nd. The shares were bought at an average price of $19.52 per share, for a total transaction of $107,360.00. Following the completion of the transaction, the director now owns 14,587 shares of the company’s stock, valued at approximately $284,738.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas A. Martin purchased 3,000 shares of the stock in a transaction on Tuesday, December 5th. The shares were acquired at an average price of $17.10 per share, for a total transaction of $51,300.00. The disclosure for this purchase can be found here. Corporate insiders own 13.99% of the company’s stock.
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.
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