BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Holdings in Kinder Morgan Inc (KMI)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in Kinder Morgan Inc (NYSE:KMI) by 26.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 610,793 shares of the pipeline company’s stock after selling 216,401 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Kinder Morgan were worth $10,829,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in Kinder Morgan in the 2nd quarter worth approximately $110,000. Westbourne Investment Advisors Inc. purchased a new stake in shares of Kinder Morgan in the 3rd quarter valued at $117,000. Blue Chip Partners Inc. purchased a new stake in shares of Kinder Morgan in the 3rd quarter valued at $128,000. Landaas & Co. WI ADV purchased a new stake in shares of Kinder Morgan in the 2nd quarter valued at $133,000. Finally, Capital Advantage Inc. purchased a new stake in shares of Kinder Morgan in the 3rd quarter valued at $142,000. 61.56% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. Mizuho assumed coverage on shares of Kinder Morgan in a research note on Wednesday, November 28th. They issued a “buy” rating and a $22.00 price objective for the company. Wolfe Research cut shares of Kinder Morgan from a “market perform” rating to an “underperform” rating in a research note on Monday, November 26th. Zacks Investment Research cut shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Barclays set a $21.00 price objective on shares of Kinder Morgan and gave the company a “buy” rating in a research note on Friday, October 12th. Finally, Credit Suisse Group assumed coverage on shares of Kinder Morgan in a research note on Thursday, October 11th. They issued an “outperform” rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $20.94.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Kinder Morgan had a net margin of 0.78% and a return on equity of 5.51%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 EPS. As a group, equities research analysts forecast that Kinder Morgan Inc will post 0.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 30th. This represents a $0.80 annualized dividend and a yield of 4.86%. Kinder Morgan’s payout ratio is currently 121.21%.
In other news, insider Richard D. Kinder purchased 500,000 shares of the company’s stock in a transaction on Thursday, September 27th. The stock was acquired at an average price of $17.55 per share, with a total value of $8,775,000.00. Following the transaction, the insider now directly owns 235,212,353 shares of the company’s stock, valued at approximately $4,127,976,795.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 14.16% of the company’s stock.
Kinder Morgan 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.
Recommended Story: Catch-Up Contributions
Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan Inc (NYSE:KMI).
Receive News & Ratings for Kinder Morgan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinder Morgan and related companies with MarketBeat.com's FREE daily email newsletter.