Wetherby Asset Management Inc. Increases Holdings in Kinder Morgan Inc (KMI)
Wetherby Asset Management Inc. boosted its position in Kinder Morgan Inc (NYSE:KMI) by 11.7% during the 3rd quarter, Holdings Channel reports. The firm owned 27,681 shares of the pipeline company’s stock after purchasing an additional 2,894 shares during the period. Wetherby Asset Management Inc.’s holdings in Kinder Morgan were worth $490,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new position in Kinder Morgan in the second quarter worth about $110,000. Westbourne Investment Advisors Inc. purchased a new position in Kinder Morgan in the third quarter worth about $117,000. Blue Chip Partners Inc. purchased a new position in Kinder Morgan in the third quarter worth about $128,000. Landaas & Co. WI ADV purchased a new position in Kinder Morgan in the second quarter worth about $133,000. Finally, Capital Advantage Inc. purchased a new position in Kinder Morgan in the third quarter worth about $142,000. 60.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of KMI opened at $16.94 on Thursday. The company has a market cap of $38.54 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 2.36 and a beta of 0.69. Kinder Morgan Inc has a 12-month low of $14.69 and a 12-month high of $19.83. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.98 and a current ratio of 1.05.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend is Tuesday, October 30th. Kinder Morgan’s dividend payout ratio (DPR) is presently 121.21%.
In other Kinder Morgan news, insider Richard D. Kinder bought 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were bought at an average price of $17.55 per share, with a total value of $8,775,000.00. Following the purchase, the insider now owns 235,212,353 shares of the company’s stock, valued at $4,127,976,795.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 14.16% of the stock is currently owned by company insiders.
KMI has been the topic of a number of analyst reports. Zacks Investment Research cut Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus lifted their price objective on Kinder Morgan from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Citigroup lowered their price objective 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. Wells Fargo & Co reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Thursday, July 19th. Finally, ValuEngine raised Kinder Morgan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.73.
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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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