Paradigm Financial Advisors LLC lessened its stake in Kinder Morgan Inc (NYSE:KMI) by 22.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,541 shares of the pipeline company’s stock after selling 11,832 shares during the period. Paradigm Financial Advisors LLC’s holdings in Kinder Morgan were worth $718,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. increased its position in Kinder Morgan by 13.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 18,255,609 shares of the pipeline company’s stock worth $322,577,000 after purchasing an additional 2,186,054 shares during the period. Dimensional Fund Advisors LP increased its position in Kinder Morgan by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,483,633 shares of the pipeline company’s stock worth $273,561,000 after purchasing an additional 322,787 shares during the period. Legal & General Group Plc increased its position in Kinder Morgan by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 11,028,849 shares of the pipeline company’s stock worth $194,841,000 after purchasing an additional 80,214 shares during the period. Russell Investments Group Ltd. increased its position in Kinder Morgan by 6.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,537,887 shares of the pipeline company’s stock worth $186,451,000 after purchasing an additional 623,705 shares during the period. Finally, Putnam Investments LLC increased its position in Kinder Morgan by 8.6% during the 2nd quarter. Putnam Investments LLC now owns 9,255,454 shares of the pipeline company’s stock worth $163,544,000 after purchasing an additional 730,488 shares during the period. Hedge funds and other institutional investors own 60.52% of the company’s stock.
KMI has been the topic of several recent analyst reports. Credit Suisse Group initiated coverage on Kinder Morgan in a research report on Thursday, October 11th. They set an “outperform” rating and a $23.00 target price on the stock. Goldman Sachs Group initiated coverage on Kinder Morgan in a research report on Monday, October 8th. They set a “conviction-buy” rating and a $24.00 target price on the stock. Stifel Nicolaus boosted their target price on Kinder Morgan from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. ValuEngine upgraded Kinder Morgan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Finally, Citigroup dropped their target price on Kinder Morgan from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.73.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. The business had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Kinder Morgan had a return on equity of 5.51% and a net margin of 0.78%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. As a group, equities research analysts forecast that Kinder Morgan Inc will post 0.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Tuesday, October 30th. Kinder Morgan’s dividend payout ratio is currently 121.21%.
In other news, insider Richard D. Kinder purchased 500,000 shares of the stock in a transaction that occurred on Thursday, September 27th. The shares were acquired at an average price of $17.55 per share, for a total transaction of $8,775,000.00. Following the acquisition, the insider now directly owns 235,212,353 shares in the company, valued at approximately $4,127,976,795.15. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 14.16% of the company’s stock.
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About Kinder Morgan
Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and storage systems; natural gas and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.
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