Girard Partners LTD. reduced its stake in shares of Kinder Morgan Inc. (NYSE:KMI) by 11.7% during the third quarter, Holdings Channel reports. The fund owned 31,026 shares of the company’s stock after selling 4,113 shares during the period. Girard Partners LTD.’s holdings in Kinder Morgan were worth $718,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of KMI. Cohen & Steers Inc. raised its stake in Kinder Morgan by 247.5% in the second quarter. Cohen & Steers Inc. now owns 14,915,734 shares of the company’s stock valued at $336,051,000 after buying an additional 10,623,045 shares during the last quarter. Brookfield Asset Management Inc. raised its stake in Kinder Morgan by 164.4% in the second quarter. Brookfield Asset Management Inc. now owns 12,280,750 shares of the company’s stock valued at $229,896,000 after buying an additional 7,635,500 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in Kinder Morgan during the second quarter valued at approximately $106,291,000. CI Global Investments Inc. acquired a new stake in Kinder Morgan during the second quarter valued at approximately $103,965,000. Finally, APG Asset Management N.V. raised its stake in Kinder Morgan by 100.9% in the third quarter. APG Asset Management N.V. now owns 6,618,227 shares of the company’s stock valued at $153,080,000 after buying an additional 3,324,100 shares during the last quarter. 54.05% of the stock is currently owned by institutional investors.
Kinder Morgan Inc. (NYSE:KMI) traded down 1.47% during trading on Monday, hitting $21.49. 4,005,935 shares of the company were exchanged. The company’s market capitalization is $47.97 billion. The company has a 50-day moving average of $20.96 and a 200-day moving average of $20.28. Kinder Morgan Inc. has a 12 month low of $11.20 and a 12 month high of $23.99.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, October 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by $0.25. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.47 billion. Kinder Morgan had a positive return on equity of 4.69% and a negative net margin of 1.13%. The business’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. Analysts forecast that Kinder Morgan Inc. will post $0.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, October 28th. Kinder Morgan’s payout ratio is currently -416.67%.
A number of research analysts have weighed in on KMI shares. Wolfe Research started coverage on shares of Kinder Morgan in a research report on Friday, October 7th. They issued a “hold” rating and a $24.00 price objective for the company. Vetr upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $23.64 price objective for the company in a research report on Monday, September 5th. Stifel Nicolaus downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research report on Tuesday, October 4th. BMO Capital Markets upgraded shares of Kinder Morgan from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $21.11 to $26.00 in a research report on Monday, October 24th. Finally, Zacks Investment Research upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, September 20th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $22.32.
In other Kinder Morgan news, Director Fayez Sarofim bought 700,000 shares of the business’s stock in a transaction on Monday, October 24th. The stock was bought at an average price of $21.41 per share, for a total transaction of $14,987,000.00. Following the completion of the transaction, the director now owns 29,142,387 shares in the company, valued at approximately $623,938,505.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.97% of the company’s stock.
Kinder Morgan Company Profile
Kinder Morgan, Inc (KMI) is an energy infrastructure company in North America. The Company segments include Natural Gas Pipelines, carbon dioxide (CO2), Terminals, Products Pipelines, Kinder Morgan Canada and Other. The Company’s Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.