Jennison Associates LLC boosted its holdings in shares of Kinder Morgan Inc (NYSE:KMI) by 23.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,088,031 shares of the pipeline company’s stock after buying an additional 204,895 shares during the quarter. Jennison Associates LLC’s holdings in Kinder Morgan were worth $19,226,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of KMI. First Pacific Advisors LLC purchased a new position in Kinder Morgan during the first quarter valued at approximately $246,833,000. Abrams Capital Management L.P. purchased a new position in Kinder Morgan during the first quarter valued at approximately $127,598,000. Franklin Resources Inc. increased its holdings in Kinder Morgan by 9.2% during the first quarter. Franklin Resources Inc. now owns 45,446,733 shares of the pipeline company’s stock valued at $684,415,000 after buying an additional 3,839,865 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Kinder Morgan during the first quarter valued at approximately $38,882,000. Finally, Russell Investments Group Ltd. increased its holdings in Kinder Morgan by 26.2% during the first quarter. Russell Investments Group Ltd. now owns 9,532,519 shares of the pipeline company’s stock valued at $143,410,000 after buying an additional 1,977,665 shares during the period. 61.56% of the stock is currently owned by institutional investors.
Several equities analysts recently issued reports on KMI shares. ValuEngine lowered shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Sanford C. Bernstein raised shares of Kinder Morgan from a “market perform” rating to an “outperform” rating in a report on Tuesday, June 26th. JPMorgan Chase & Co. lifted their price target on shares of Kinder Morgan from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Thursday, July 19th. Finally, Raymond James raised shares of Kinder Morgan from a “market perform” rating to an “outperform” rating in a report on Monday, June 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the stock. Kinder Morgan currently has a consensus rating of “Buy” and a consensus price target of $20.89.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, July 18th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.42 billion. Kinder Morgan had a negative net margin of 1.82% and a positive return on equity of 5.07%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. sell-side analysts anticipate that Kinder Morgan Inc will post 0.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Tuesday, July 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Monday, July 30th. Kinder Morgan’s dividend payout ratio (DPR) is presently 121.21%.
In related news, Director William A. Smith acquired 5,556 shares of the company’s stock in a transaction dated Thursday, July 26th. The shares were purchased at an average cost of $18.09 per share, with a total value of $100,508.04. Following the completion of the acquisition, the director now directly owns 14,587 shares of the company’s stock, valued at $263,878.83. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 14.16% of the stock is owned by insiders.
About Kinder Morgan
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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