Oppenheimer Asset Management Inc. boosted its position in shares of Kinder Morgan Inc (NYSE:KMI) by 77.8% in the third quarter, Holdings Channel.com reports. The firm owned 66,501 shares of the pipeline company’s stock after acquiring an additional 29,109 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Kinder Morgan were worth $1,371,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in KMI. Comerica Bank lifted its stake in Kinder Morgan by 1.4% in the 3rd quarter. Comerica Bank now owns 407,654 shares of the pipeline company’s stock valued at $8,332,000 after purchasing an additional 5,732 shares during the last quarter. California Public Employees Retirement System lifted its stake in Kinder Morgan by 28.5% in the 3rd quarter. California Public Employees Retirement System now owns 4,748,254 shares of the pipeline company’s stock valued at $97,862,000 after purchasing an additional 1,053,377 shares during the last quarter. Bridger Capital Management LLC acquired a new stake in Kinder Morgan in the 3rd quarter valued at about $40,000. Usca Ria LLC raised its position in shares of Kinder Morgan by 7.8% in the third quarter. Usca Ria LLC now owns 493,228 shares of the pipeline company’s stock valued at $10,165,000 after buying an additional 35,873 shares in the last quarter. Finally, UMB Bank N A MO raised its position in shares of Kinder Morgan by 17.5% in the third quarter. UMB Bank N A MO now owns 281,234 shares of the pipeline company’s stock valued at $5,796,000 after buying an additional 41,834 shares in the last quarter. Hedge funds and other institutional investors own 61.98% of the company’s stock.
Shares of NYSE:KMI opened at $20.04 on Friday. The company’s 50 day simple moving average is $20.38 and its 200 day simple moving average is $20.39. The stock has a market capitalization of $46.48 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 4.29 and a beta of 0.80. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.35 and a quick ratio of 0.29. Kinder Morgan Inc has a 1 year low of $14.62 and a 1 year high of $21.50.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.99%. Kinder Morgan’s payout ratio is presently 112.36%.
In other Kinder Morgan news, insider Richard D. Kinder acquired 400,000 shares of Kinder Morgan stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $19.95 per share, with a total value of $7,980,000.00. Following the completion of the purchase, the insider now directly owns 241,579,496 shares in the company, valued at approximately $4,819,510,945.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas A. Martin sold 20,733 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $20.65, for a total transaction of $428,136.45. Following the completion of the sale, the vice president now directly owns 908,974 shares in the company, valued at approximately $18,770,313.10. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 1,305,000 shares of company stock worth $26,061,550. Insiders own 13.95% of the company’s stock.
KMI has been the subject of a number of analyst reports. Goldman Sachs Group downgraded shares of Kinder Morgan from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research report on Thursday, October 24th. SunTrust Banks dropped their price target on shares of Kinder Morgan from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Scotiabank initiated coverage on shares of Kinder Morgan in a research report on Tuesday, September 3rd. They issued a “sector perform” rating and a $23.00 price target for the company. BMO Capital Markets downgraded shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a research report on Monday, July 29th. Finally, Scotia Howard Weill initiated coverage on shares of Kinder Morgan in a research report on Tuesday, September 3rd. They issued a “sector perform” rating and a $23.00 price target for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Kinder Morgan currently has a consensus rating of “Hold” and an average price target of $21.98.
Kinder Morgan Company Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 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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