FDx Advisors Inc. boosted its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 12.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,735 shares of the pipeline company’s stock after acquiring an additional 14,152 shares during the quarter. FDx Advisors Inc.’s holdings in Kinder Morgan were worth $2,450,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Heritage Trust Co lifted its position in Kinder Morgan by 457.7% in the 2nd quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock valued at $101,000 after acquiring an additional 4,302 shares in the last quarter. Fiduciary Trust Co. bought a new position in Kinder Morgan in the 2nd quarter valued at approximately $115,000. Acrospire Investment Management LLC lifted its position in Kinder Morgan by 30.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock valued at $131,000 after acquiring an additional 1,600 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of 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 lifted its holdings in shares of 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. 59.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Kinder Morgan, Inc. (KMI) traded down $0.24 during trading on Friday, hitting $17.67. The stock had a trading volume of 9,151,700 shares, compared to its average volume of 12,931,414. The stock has a market capitalization of $39,461.35, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 1.37 and a beta of 0.65. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.96. Kinder Morgan, Inc. has a 52-week low of $17.59 and a 52-week high of $23.01.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.15. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.21 billion. Kinder Morgan had a return on equity of 4.33% and a net margin of 10.39%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) earnings per share. sell-side analysts forecast that Kinder Morgan, Inc. will post 0.64 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.125 per share. The ex-dividend date is Monday, October 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.83%. Kinder Morgan’s payout ratio is 89.29%.
Kinder Morgan declared that its Board of Directors has authorized a share buyback plan on Wednesday, July 19th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
KMI has been the topic of several research analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Kinder Morgan in a report on Tuesday, September 5th. Goldman Sachs Group, Inc. (The) cut Kinder Morgan from a “buy” rating to a “neutral” rating and increased their price target for the company from $18.81 to $22.00 in a report on Tuesday, October 17th. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Raymond James Financial, Inc. reissued a “buy” rating on shares of Kinder Morgan in a report on Saturday, July 22nd. Finally, BMO Capital Markets restated a “buy” rating and issued a $26.00 price objective on shares of Kinder Morgan in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. Kinder Morgan presently has an average rating of “Hold” and an average target price of $23.03.
Kinder Morgan 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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