Flagship Harbor Advisors LLC Cuts Holdings in Kinder Morgan Inc (KMI)

Flagship Harbor Advisors LLC lessened its holdings in shares of Kinder Morgan Inc (NYSE:KMI) by 11.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,192 shares of the pipeline company’s stock after selling 1,392 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Kinder Morgan were worth $223,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Avestar Capital LLC boosted its position in shares of Kinder Morgan by 83.5% in the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 985 shares during the period. Intercontinental Wealth Advisors LLC bought a new position in shares of Kinder Morgan in the fourth quarter valued at approximately $28,000. Cornerstone Advisors Inc. boosted its position in shares of Kinder Morgan by 129.8% in the fourth quarter. Cornerstone Advisors Inc. now owns 1,896 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 1,071 shares during the period. Bedel Financial Consulting Inc. boosted its position in shares of Kinder Morgan by 573.6% in the fourth quarter. Bedel Financial Consulting Inc. now owns 1,987 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 1,692 shares during the period. Finally, Webster Bank N. A. bought a new position in shares of Kinder Morgan in the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 64.93% of the company’s stock.

In related news, Chairman Richard D. Kinder bought 100,000 shares of the company’s stock in a transaction on Thursday, January 31st. The stock was acquired at an average cost of $18.05 per share, for a total transaction of $1,805,000.00. Following the completion of the transaction, the chairman now directly owns 235,427,613 shares in the company, valued at approximately $4,249,468,414.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard D. Kinder bought 50,000 shares of the company’s stock in a transaction on Tuesday, January 29th. The shares were bought at an average price of $17.92 per share, with a total value of $896,000.00. Following the completion of the transaction, the insider now owns 235,262,353 shares of the company’s stock, valued at $4,215,901,365.76. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 3,265,912 shares of company stock valued at $62,333,764. 13.95% of the stock is currently owned by company insiders.

A number of research firms have recently commented on KMI. JPMorgan Chase & Co. lowered shares of Kinder Morgan from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $21.00 to $22.00 in a research report on Friday, March 22nd. Raymond James lowered shares of Kinder Morgan from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday. They noted that the move was a valuation call. Goldman Sachs Group lowered shares of Kinder Morgan from a “conviction-buy” rating to a “buy” rating and set a $23.00 price objective for the company. in a research report on Thursday, March 28th. Jefferies Financial Group lowered shares of Kinder Morgan from a “buy” rating to a “hold” rating and raised their price objective for the company from $19.00 to $20.00 in a research report on Monday, April 1st. Finally, Citigroup lowered shares of Kinder Morgan from a “buy” rating to a “neutral” rating and set a $20.00 price objective for the company. in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. Kinder Morgan has a consensus rating of “Buy” and an average target price of $21.32.

Shares of Kinder Morgan stock opened at $19.39 on Friday. Kinder Morgan Inc has a 1 year low of $14.62 and a 1 year high of $20.44. The company has a market cap of $42.78 billion, a price-to-earnings ratio of 21.79, a P/E/G ratio of 2.63 and a beta of 0.96. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.76 and a quick ratio of 0.71.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, April 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. Kinder Morgan had a net margin of 11.38% and a return on equity of 5.86%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the previous year, the business posted $0.22 earnings per share. Kinder Morgan’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts predict that Kinder Morgan Inc will post 1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 29th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 5.16%. Kinder Morgan’s payout ratio is presently 89.89%.

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About Kinder Morgan

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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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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