Redmond Asset Management LLC increased its stake in shares of Kinder Morgan Inc (NYSE:KMI) by 3.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,672 shares of the pipeline company’s stock after purchasing an additional 932 shares during the quarter. Redmond Asset Management LLC’s holdings in Kinder Morgan were worth $515,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Clearbridge Investments LLC lifted its holdings in Kinder Morgan by 54.6% during the 1st quarter. Clearbridge Investments LLC now owns 29,164,247 shares of the pipeline company’s stock worth $583,577,000 after buying an additional 10,302,503 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in Kinder Morgan by 4.7% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 24,890,725 shares of the pipeline company’s stock worth $498,063,000 after buying an additional 1,111,744 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Kinder Morgan by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 23,513,119 shares of the pipeline company’s stock worth $360,962,000 after buying an additional 1,758,792 shares during the last quarter. Northern Trust Corp lifted its holdings in Kinder Morgan by 2.7% during the 1st quarter. Northern Trust Corp now owns 22,121,959 shares of the pipeline company’s stock worth $442,660,000 after buying an additional 582,599 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Kinder Morgan by 1.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,679,533 shares of the pipeline company’s stock worth $160,349,000 after buying an additional 109,843 shares during the last quarter. 62.82% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Richard D. Kinder bought 300,000 shares of Kinder Morgan stock in a transaction dated Wednesday, May 29th. The stock was acquired at an average cost of $19.68 per share, with a total value of $5,904,000.00. Following the acquisition, the insider now owns 241,179,496 shares of the company’s stock, valued at $4,746,412,481.28. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 13.95% of the stock is currently owned by insiders.
Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, July 17th. The pipeline company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). Kinder Morgan had a net margin of 16.50% and a return on equity of 6.23%. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, research analysts predict that Kinder Morgan Inc will post 0.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Tuesday, July 30th. Kinder Morgan’s payout ratio is currently 112.36%.
A number of analysts have issued reports on the company. BMO Capital Markets downgraded Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a report on Monday, July 29th. Stifel Nicolaus downgraded Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a report on Monday, June 17th. Raymond James downgraded Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 price target for the company. in a report on Wednesday, June 26th. ValuEngine downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Johnson Rice assumed coverage on Kinder Morgan in a report on Thursday, May 30th. They set a “hold” rating and a $21.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $21.75.
Kinder Morgan Company Profile
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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