Private Asset Management Inc. Has $11,447,000 Stake in Kinder Morgan Inc. (KMI)
Private Asset Management Inc. lowered its stake in Kinder Morgan Inc. (NYSE:KMI) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 494,915 shares of the company’s stock after selling 11,198 shares during the period. Kinder Morgan makes up about 1.9% of Private Asset Management Inc.’s holdings, making the stock its 17th largest position. Private Asset Management Inc.’s holdings in Kinder Morgan were worth $11,447,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the company. CI Global Investments Inc. bought a new stake in Kinder Morgan during the second quarter valued at about $103,965,000. Advisor Partners LLC raised its stake in Kinder Morgan by 8.8% in the second quarter. Advisor Partners LLC now owns 37,640 shares of the company’s stock valued at $705,000 after buying an additional 3,051 shares during the last quarter. GW&K Investment Management LLC raised its stake in Kinder Morgan by 6.6% in the second quarter. GW&K Investment Management LLC now owns 891,435 shares of the company’s stock valued at $16,688,000 after buying an additional 55,463 shares during the last quarter. Confluence Investment Management LLC raised its stake in Kinder Morgan by 16.7% in the second quarter. Confluence Investment Management LLC now owns 2,352,603 shares of the company’s stock valued at $44,041,000 after buying an additional 337,389 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its stake in Kinder Morgan by 3.4% in the second quarter. Hennessy Advisors Inc. now owns 4,143,225 shares of the company’s stock valued at $77,561,000 after buying an additional 135,000 shares during the last quarter. Institutional investors and hedge funds own 54.72% of the company’s stock.
Shares of Kinder Morgan Inc. (NYSE:KMI) traded up 1.36% on Friday, hitting $21.67. The stock had a trading volume of 11,044,374 shares. The firm has a 50-day moving average of $21.19 and a 200 day moving average of $19.99. The company’s market capitalization is $48.38 billion. Kinder Morgan Inc. has a 1-year low of $11.20 and a 1-year high of $24.62.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 19th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.25. The company earned $3.33 billion during the quarter, compared to the consensus estimate of $3.47 billion. Kinder Morgan had a positive return on equity of 4.69% and a negative net margin of 1.13%. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.08 EPS. On average, equities analysts anticipate that Kinder Morgan Inc. will post $0.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st were issued a dividend of $0.125 per share. The ex-dividend date was Friday, October 28th. This represents a $0.50 dividend on an annualized basis and a yield of 2.31%. Kinder Morgan’s payout ratio is -416.67%.
Several analysts have issued reports on KMI shares. Wolfe Research started coverage on Kinder Morgan in a research note on Friday, October 7th. They issued a “hold” rating and a $24.00 price objective on the stock. Zacks Investment Research upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Tuesday, September 20th. SunTrust Banks Inc. restated a “buy” rating on shares of Kinder Morgan in a research note on Sunday, October 23rd. Vetr upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $22.41 price objective on the stock in a research note on Thursday, August 25th. Finally, Raymond James Financial Inc. upgraded Kinder Morgan from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $23.00 to $27.00 in a research note on Monday, October 24th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Kinder Morgan has a consensus rating of “Buy” and a consensus price target of $22.32.
In other Kinder Morgan news, Director Fayez Sarofim bought 700,000 shares of the stock in a transaction on Monday, October 24th. The shares were acquired at an average price of $21.41 per share, with a total value of $14,987,000.00. Following the acquisition, the director now directly owns 29,142,387 shares of the company’s stock, valued at approximately $623,938,505.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 13.97% of the company’s stock.
About Kinder Morgan
Kinder Morgan, Inc (KMI) is an energy infrastructure company in North America. The Company segments include Natural Gas Pipelines, carbon dioxide (CO2), Terminals, Products Pipelines, Kinder Morgan Canada and Other. The Company’s Natural Gas Pipelines segment includes interstate and intrastate pipelines and its liquefied natural gas (LNG) terminals.
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