Bank of The West bought a new position in Kinder Morgan Inc (NYSE:KMI) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,180 shares of the pipeline company’s stock, valued at approximately $295,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Edge Capital Group LLC lifted its position in Kinder Morgan by 1,924.2% during the 1st quarter. Edge Capital Group LLC now owns 577,261 shares of the pipeline company’s stock worth $8,035,000 after buying an additional 548,743 shares in the last quarter. Foundry Partners LLC acquired a new position in Kinder Morgan during the 1st quarter worth about $3,320,000. Cincinnati Insurance Co. lifted its position in Kinder Morgan by 60.0% during the 1st quarter. Cincinnati Insurance Co. now owns 85,323 shares of the pipeline company’s stock worth $1,188,000 after buying an additional 32,012 shares in the last quarter. Swiss National Bank lifted its position in Kinder Morgan by 23.1% during the 1st quarter. Swiss National Bank now owns 7,911,633 shares of the pipeline company’s stock worth $110,130,000 after buying an additional 1,487,200 shares in the last quarter. Finally, West Family Investments Inc. acquired a new position in Kinder Morgan during the 1st quarter worth about $802,000. Institutional investors and hedge funds own 62.75% of the company’s stock.
In other Kinder Morgan news, major shareholder Richard D. Kinder bought 500,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average cost of $14.25 per share, with a total value of $7,125,000.00. Also, Director William A. Smith purchased 6,500 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were acquired at an average cost of $15.35 per share, with a total value of $99,775.00. Following the completion of the purchase, the director now directly owns 21,087 shares in the company, valued at $323,685.45. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,406,500 shares of company stock valued at $24,957,775. 14.19% of the stock is owned by company insiders.
Shares of NYSE:KMI opened at $15.36 on Friday. The firm’s 50 day simple moving average is $14.72 and its 200 day simple moving average is $18.46. Kinder Morgan Inc has a fifty-two week low of $9.42 and a fifty-two week high of $22.58. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.55 and a quick ratio of 0.50. The company has a market capitalization of $35.39 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 7.27 and a beta of 1.04.
Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, April 22nd. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Kinder Morgan had a return on equity of 6.24% and a net margin of 10.31%. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the previous year, the company posted $0.25 earnings per share. Kinder Morgan’s revenue for the quarter was down 9.4% compared to the same quarter last year. Equities research analysts expect that Kinder Morgan Inc will post 0.72 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were paid a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a yield of 6.84%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, May 1st. Kinder Morgan’s dividend payout ratio is presently 110.53%.
KMI has been the topic of several research reports. Piper Sandler reduced their price target on shares of Kinder Morgan from $16.00 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Royal Bank of Canada reiterated a “hold” rating and set a $19.00 price target on shares of Kinder Morgan in a research report on Tuesday, April 21st. US Capital Advisors upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating in a research report on Friday, March 13th. Morgan Stanley upgraded shares of Kinder Morgan from an “underweight” rating to an “equal weight” rating in a research report on Monday, March 16th. Finally, SunTrust Banks restated a “buy” rating and set a $18.00 target price on shares of Kinder Morgan in a research report on Thursday, April 23rd. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.40.
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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