Bank of The West acquired a new position in Kinder Morgan Inc (NYSE:KMI) during the first quarter, HoldingsChannel reports. The institutional investor acquired 21,180 shares of the pipeline company’s stock, valued at approximately $295,000.
Other hedge funds have also modified their holdings of the company. Red Door Wealth Management LLC bought a new stake in shares of Kinder Morgan in the 1st quarter worth approximately $26,000. Carmichael Hill & Associates Inc. purchased a new position in shares of Kinder Morgan in the 4th quarter valued at approximately $25,000. RMR Wealth Builders purchased a new position in shares of Kinder Morgan in the 4th quarter valued at approximately $26,000. Coastal Capital Group Inc. lifted its stake in shares of Kinder Morgan by 163.6% in the 4th quarter. Coastal Capital Group Inc. now owns 1,244 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 772 shares during the period. Finally, PSI Advisors LLC purchased a new position in shares of Kinder Morgan in the 4th quarter valued at approximately $26,000. Hedge funds and other institutional investors own 62.75% of the company’s stock.
In related news, Director William A. Smith purchased 6,500 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was acquired at an average price of $15.35 per share, with a total value of $99,775.00. Following the completion of the acquisition, the director now owns 21,087 shares of the company’s stock, valued at approximately $323,685.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard D. Kinder purchased 300,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were bought at an average cost of $20.72 per share, with a total value of $6,216,000.00. Following the acquisition, the chairman now directly owns 243,439,120 shares of the company’s stock, valued at approximately $5,044,058,566.40. The disclosure for this purchase can be found here. Insiders have acquired 1,406,500 shares of company stock valued at $24,957,775 in the last three months. 14.19% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on the company. US Capital Advisors upgraded Kinder Morgan from a “hold” rating to a “buy” rating in a research note on Friday, March 13th. TheStreet cut Kinder Morgan from a “b-” rating to a “c+” rating in a research note on Tuesday, March 24th. Wells Fargo & Co reduced their target price on Kinder Morgan from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Raymond James reduced their target price on Kinder Morgan from $18.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, Cfra reduced their target price on Kinder Morgan from $20.00 to $18.00 and set a “buy” rating for the company in a report on Friday, April 24th. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Kinder Morgan presently has a consensus rating of “Hold” and an average target price of $19.40.
Shares of KMI opened at $15.36 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.50. Kinder Morgan Inc has a one year low of $9.42 and a one year high of $22.58. The firm has a market capitalization of $35.39 billion, a P/E ratio of 26.48, a PEG ratio of 7.27 and a beta of 1.04. The business has a fifty day moving average of $14.72 and a 200 day moving average of $18.46.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, April 22nd. The pipeline company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.03). Kinder Morgan had a return on equity of 6.24% and a net margin of 10.31%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the previous year, the firm earned $0.25 EPS. The business’s revenue was down 9.4% on a year-over-year basis. Analysts expect that Kinder Morgan Inc will post 0.72 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a yield of 6.84%. The ex-dividend date was Friday, May 1st. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.25. Kinder Morgan’s payout ratio is currently 110.53%.
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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