Hoertkorn Richard Charles raised its holdings in Kinder Morgan Inc (NYSE:KMI) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,880 shares of the pipeline company’s stock after buying an additional 2,880 shares during the period. Kinder Morgan comprises about 4.0% of Hoertkorn Richard Charles’ holdings, making the stock its 9th largest position. Hoertkorn Richard Charles’ holdings in Kinder Morgan were worth $6,788,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new stake in Kinder Morgan in the second quarter valued at $110,000. Landaas & Co. WI ADV acquired a new stake in Kinder Morgan in the second quarter valued at $133,000. First Hawaiian Bank acquired a new stake in Kinder Morgan in the third quarter valued at $164,000. Mount Yale Investment Advisors LLC acquired a new stake in Kinder Morgan in the first quarter valued at $144,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in Kinder Morgan by 100.0% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 10,000 shares of the pipeline company’s stock valued at $177,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 60.34% of the company’s stock.
Shares of NYSE KMI traded up $0.17 during midday trading on Thursday, reaching $18.12. 1,028,209 shares of the company were exchanged, compared to its average volume of 14,299,030. The company has a quick ratio of 0.41, a current ratio of 0.49 and a debt-to-equity ratio of 1.03. Kinder Morgan Inc has a 1 year low of $14.69 and a 1 year high of $19.83. The firm has a market cap of $39.11 billion, a P/E ratio of 27.23, a P/E/G ratio of 2.51 and a beta of 0.73.
The business 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.42%. Kinder Morgan’s dividend payout ratio is currently 121.21%.
In related news, insider Richard D. Kinder purchased 500,000 shares of the stock in a transaction that occurred on Thursday, September 27th. The shares were purchased at an average price of $17.55 per share, with a total value of $8,775,000.00. Following the completion of the acquisition, the insider now directly owns 235,212,353 shares in the company, valued at approximately $4,127,976,795.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William A. Smith purchased 5,556 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were bought at an average cost of $18.09 per share, for a total transaction of $100,508.04. Following the acquisition, the director now owns 14,587 shares of the company’s stock, valued at $263,878.83. The disclosure for this purchase can be found here. Company insiders own 14.16% of the company’s stock.
Several equities analysts have issued reports on the company. Barclays set a $21.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a report on Friday, October 12th. Credit Suisse Group assumed coverage on Kinder Morgan in a report on Thursday, October 11th. They set an “outperform” rating and a $23.00 price objective on the stock. Goldman Sachs Group assumed coverage on Kinder Morgan in a report on Monday, October 8th. They set a “conviction-buy” rating and a $24.00 price objective on the stock. ValuEngine raised Kinder Morgan from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 15th. Finally, Stifel Nicolaus raised their price objective on Kinder Morgan from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Kinder Morgan presently has a consensus rating of “Buy” and a consensus target price of $20.81.
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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