Principal Financial Group Inc. boosted its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,248,987 shares of the pipeline company’s stock after purchasing an additional 177,053 shares during the quarter. Principal Financial Group Inc. owned about 0.24% of Kinder Morgan worth $100,676,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its holdings in Kinder Morgan by 47.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 356,546 shares of the pipeline company’s stock worth $6,832,000 after purchasing an additional 114,124 shares in the last quarter. Ballentine Partners LLC bought a new stake in Kinder Morgan in the second quarter worth approximately $1,078,000. Brookfield Asset Management Inc. increased its holdings in Kinder Morgan by 10.4% in the first quarter. Brookfield Asset Management Inc. now owns 10,396,470 shares of the pipeline company’s stock worth $226,019,000 after purchasing an additional 976,320 shares in the last quarter. Norinchukin Bank The increased its holdings in Kinder Morgan by 4.0% in the second quarter. Norinchukin Bank The now owns 232,006 shares of the pipeline company’s stock worth $4,445,000 after purchasing an additional 8,908 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT increased its holdings in Kinder Morgan by 553.8% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 146,283 shares of the pipeline company’s stock worth $2,803,000 after purchasing an additional 123,909 shares in the last quarter. Institutional investors and hedge funds own 59.13% of the company’s stock.
Shares of Kinder Morgan, Inc. (KMI) opened at $17.67 on Friday. Kinder Morgan, Inc. has a 1-year low of $17.59 and a 1-year high of $23.01. The stock has a market capitalization of $39,461.35, a price-to-earnings ratio of 27.18, a P/E/G 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 (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Kinder Morgan had a return on equity of 4.33% and a net margin of 10.39%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the prior year, the company posted ($0.10) earnings per share. Kinder Morgan’s revenue was down 1.5% compared to the same quarter last year. analysts forecast that Kinder Morgan, Inc. will post 0.64 EPS for the current fiscal year.
Kinder Morgan declared that its board has authorized a stock buyback program on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to buy up to 4.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a $0.125 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.50 annualized dividend and a yield of 2.83%. Kinder Morgan’s dividend payout ratio is currently 89.29%.
Several equities research analysts have recently commented on KMI shares. Stifel Nicolaus decreased their price objective on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, October 24th. Mizuho restated a “hold” rating and set a $22.00 price objective on shares of Kinder Morgan in a report on Friday, October 20th. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. SunTrust Banks, Inc. set a $23.00 price objective on Kinder Morgan and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Goldman Sachs Group, Inc. (The) downgraded Kinder Morgan from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $18.81 to $22.00 in a report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $23.03.
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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