GW&K Investment Management LLC boosted its stake in shares of Kinder Morgan Inc (NYSE:KMI) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,804,178 shares of the pipeline company’s stock after acquiring an additional 4,663 shares during the quarter. GW&K Investment Management LLC owned 0.08% of Kinder Morgan worth $37,184,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Gilbert & Cook Inc. raised its position in Kinder Morgan by 4.8% during the third quarter. Gilbert & Cook Inc. now owns 10,744 shares of the pipeline company’s stock valued at $221,000 after acquiring an additional 494 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Kinder Morgan by 4.7% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 16,850 shares of the pipeline company’s stock valued at $347,000 after acquiring an additional 756 shares in the last quarter. Whitnell & Co. grew its holdings in Kinder Morgan by 7.1% in the third quarter. Whitnell & Co. now owns 37,900 shares of the pipeline company’s stock valued at $781,000 after purchasing an additional 2,500 shares during the period. WealthTrust Axiom LLC grew its holdings in Kinder Morgan by 90.3% in the third quarter. WealthTrust Axiom LLC now owns 88,003 shares of the pipeline company’s stock valued at $1,813,000 after purchasing an additional 41,757 shares during the period. Finally, Brasada Capital Management LP acquired a new stake in Kinder Morgan in the third quarter valued at approximately $925,000. Institutional investors own 61.98% of the company’s stock.
Several brokerages have commented on KMI. TD Securities began coverage on Kinder Morgan in a report on Wednesday, October 2nd. They issued a “buy” rating and a $25.00 price objective on the stock. Scotiabank began coverage on Kinder Morgan in a report on Tuesday, September 3rd. They issued a “sector perform” rating and a $23.00 price objective on the stock. Argus lowered Kinder Morgan from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. SunTrust Banks dropped their price objective on Kinder Morgan from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, Goldman Sachs Group lowered Kinder Morgan from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $21.98.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.02). The firm had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.51 billion. Kinder Morgan had a return on equity of 6.25% and a net margin of 15.21%. The business’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. Sell-side analysts expect that Kinder Morgan Inc will post 0.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date is Wednesday, October 30th. Kinder Morgan’s dividend payout ratio is presently 112.36%.
In other Kinder Morgan news, VP Dax Sanders sold 71,944 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $20.05, for a total transaction of $1,442,477.20. Following the transaction, the vice president now owns 204,605 shares of the company’s stock, valued at $4,102,330.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas A. Martin sold 20,733 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $20.65, for a total value of $428,136.45. Following the transaction, the vice president now directly owns 908,974 shares in the company, valued at approximately $18,770,313.10. The disclosure for this sale can be found here. Insiders bought 1,305,000 shares of company stock worth $26,061,550 over the last ninety days. Corporate insiders own 13.95% of the company’s stock.
Kinder Morgan 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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