Kinder Morgan Inc (KMI) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in shares of Kinder Morgan Inc (NYSE:KMI) by 23.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 827,194 shares of the pipeline company’s stock after selling 251,467 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Kinder Morgan were worth $14,617,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of KMI. Ostrum Asset Management acquired a new position in Kinder Morgan during the first quarter worth approximately $121,000. Landaas & Co. WI ADV acquired a new position in Kinder Morgan during the second quarter worth approximately $133,000. Mount Yale Investment Advisors LLC acquired a new position in Kinder Morgan during the first quarter worth approximately $144,000. BKS Advisors LLC acquired a new position in Kinder Morgan during the first quarter worth approximately $153,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in Kinder Morgan by 100.0% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 10,000 shares of the pipeline company’s stock worth $177,000 after buying an additional 5,000 shares during the period. 60.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of KMI stock opened at $17.81 on Wednesday. Kinder Morgan Inc has a twelve month low of $14.69 and a twelve month high of $19.85. The company has a market capitalization of $39.64 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 2.42 and a beta of 0.67. The company has a current ratio of 0.49, a quick ratio of 0.41 and a debt-to-equity ratio of 1.03.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Investors of record on Tuesday, July 31st were paid a $0.20 dividend. The ex-dividend date was Monday, July 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.49%. Kinder Morgan’s dividend payout ratio (DPR) is presently 121.21%.
In other Kinder Morgan news, Director William A. Smith purchased 5,556 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The shares were purchased at an average cost of $18.09 per share, for a total transaction of $100,508.04. Following the completion of the purchase, the director now directly owns 14,587 shares in the company, valued at $263,878.83. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 14.16% of the stock is owned by insiders.
Several research firms have commented on KMI. ValuEngine raised Kinder Morgan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Stifel Nicolaus lifted their price target on Kinder Morgan from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. JPMorgan Chase & Co. lifted their price target on Kinder Morgan from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Citigroup cut their price target on Kinder Morgan from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Thursday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $20.89.
Kinder Morgan Company Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada 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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