Kinder Morgan, Inc. (KMI) Shares Sold by Wellington Shields Capital Management LLC
Wellington Shields Capital Management LLC lessened its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 18.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,151 shares of the pipeline company’s stock after selling 8,093 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Kinder Morgan were worth $674,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Heritage Trust Co grew its position in shares of Kinder Morgan by 457.7% during the 2nd quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock worth $101,000 after buying an additional 4,302 shares in the last quarter. Fiduciary Trust Co. bought a new position in shares of Kinder Morgan during the 2nd quarter worth $115,000. Acrospire Investment Management LLC grew its position in shares of Kinder Morgan by 30.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock worth $131,000 after buying an additional 1,600 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Kinder Morgan by 14.0% during the 2nd quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock worth $136,000 after buying an additional 819 shares in the last quarter. Finally, Trust Co. of Vermont grew its position in shares of Kinder Morgan by 10.3% during the 2nd quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock worth $138,000 after buying an additional 675 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors.
Kinder Morgan, Inc. (NYSE KMI) traded down $0.29 during trading on Wednesday, reaching $17.14. The company’s stock had a trading volume of 7,776,603 shares, compared to its average volume of 11,322,913. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.35 and a current ratio of 0.42. Kinder Morgan, Inc. has a 52 week low of $17.27 and a 52 week high of $23.01. The stock has a market capitalization of $38,992.37, a PE ratio of 26.86, a PEG ratio of 1.36 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. Kinder Morgan had a return on equity of 4.33% and a net margin of 10.39%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period last year, the business posted ($0.10) earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. equities research analysts predict that Kinder Morgan, Inc. will post 0.64 EPS for the current fiscal year.
Kinder Morgan announced that its board has approved a share repurchase plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the pipeline company to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Monday, October 30th. Kinder Morgan’s dividend payout ratio (DPR) is presently 89.29%.
A number of research firms have recently issued reports on KMI. Stifel Nicolaus dropped their price target on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. Mizuho reissued a “hold” rating and set a $22.00 price target on shares of Kinder Morgan in a research report on Friday, October 20th. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. SunTrust Banks, Inc. set a $23.00 price target on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Goldman Sachs Group, Inc. (The) downgraded Kinder Morgan from a “buy” rating to a “neutral” rating and increased their price target for the stock from $18.81 to $22.00 in a research report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Kinder Morgan presently has a consensus rating of “Hold” and a consensus target price of $23.03.
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Kinder Morgan Company Profile
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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