Front Barnett Associates LLC Trims Holdings in Kinder Morgan Inc (KMI)
Front Barnett Associates LLC cut its stake in Kinder Morgan Inc (NYSE:KMI) by 24.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 20,321 shares of the pipeline company’s stock after selling 6,521 shares during the quarter. Front Barnett Associates LLC’s holdings in Kinder Morgan were worth $367,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Welch Investments LLC purchased a new position in shares of Kinder Morgan in the 3rd quarter valued at $102,000. Valeo Financial Advisors LLC purchased a new position in shares of Kinder Morgan in the 3rd quarter valued at $104,000. Sit Investment Associates Inc. increased its holdings in shares of Kinder Morgan by 237.1% in the 4th quarter. Sit Investment Associates Inc. now owns 6,725 shares of the pipeline company’s stock valued at $122,000 after acquiring an additional 4,730 shares during the period. Cerebellum GP LLC purchased a new position in shares of Kinder Morgan in the 4th quarter valued at $126,000. Finally, Goodman Financial Corp purchased a new position in shares of Kinder Morgan in the 4th quarter valued at $126,000. Institutional investors and hedge funds own 60.57% of the company’s stock.
Kinder Morgan Inc (NYSE KMI) opened at $17.00 on Friday. The firm has a market capitalization of $37,980.00, a PE ratio of 1,700.00, a price-to-earnings-growth ratio of 1.18 and a beta of 0.56. Kinder Morgan Inc has a 52 week low of $16.56 and a 52 week high of $22.75. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.35 and a current ratio of 0.44.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.94%. Kinder Morgan’s payout ratio is currently 5,000.00%.
In other Kinder Morgan news, Director William A. Smith purchased 5,500 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was purchased at an average price of $19.52 per share, for a total transaction of $107,360.00. Following the purchase, the director now directly owns 14,587 shares in the company, valued at $284,738.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas A. Martin purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was acquired at an average price of $17.10 per share, with a total value of $51,300.00. The disclosure for this purchase can be found here. Company insiders own 13.99% of the company’s stock.
KMI has been the subject of a number of recent analyst reports. SunTrust Banks set a $23.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, October 19th. BMO Capital Markets set a $26.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, October 12th. Stifel Nicolaus lowered their price objective on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating in a research report on Monday, January 29th. They noted that the move was a valuation call. Finally, Mizuho reissued a “hold” rating and issued a $22.00 price objective on shares of Kinder Morgan in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $22.72.
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Kinder Morgan 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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