Stevens Capital Management LP increased its holdings in shares of Kinder Morgan Inc (NYSE:KMI) by 182.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 308,479 shares of the pipeline company’s stock after purchasing an additional 199,230 shares during the quarter. Stevens Capital Management LP’s holdings in Kinder Morgan were worth $6,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of KMI. Clearbridge Investments LLC lifted its holdings in Kinder Morgan by 54.6% in the first quarter. Clearbridge Investments LLC now owns 29,164,247 shares of the pipeline company’s stock valued at $583,577,000 after acquiring an additional 10,302,503 shares during the period. Geode Capital Management LLC lifted its holdings in Kinder Morgan by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 23,513,119 shares of the pipeline company’s stock valued at $360,962,000 after acquiring an additional 1,758,792 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Kinder Morgan by 144.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,346,407 shares of the pipeline company’s stock valued at $46,952,000 after acquiring an additional 1,386,053 shares during the period. Chickasaw Capital Management LLC lifted its holdings in Kinder Morgan by 19.5% in the second quarter. Chickasaw Capital Management LLC now owns 7,600,590 shares of the pipeline company’s stock valued at $158,700,000 after acquiring an additional 1,241,720 shares during the period. Finally, State of Tennessee Treasury Department lifted its holdings in Kinder Morgan by 156.6% in the first quarter. State of Tennessee Treasury Department now owns 1,993,382 shares of the pipeline company’s stock valued at $39,887,000 after acquiring an additional 1,216,450 shares during the period. 62.82% of the stock is currently owned by institutional investors.
KMI traded down $0.46 during midday trading on Wednesday, reaching $20.05. The company had a trading volume of 241,026 shares, compared to its average volume of 14,599,687. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 0.96. The company’s 50-day moving average price is $20.71. The firm has a market capitalization of $46.11 billion, a P/E ratio of 22.49, a P/E/G ratio of 4.27 and a beta of 0.86. Kinder Morgan Inc has a 1 year low of $14.62 and a 1 year high of $21.50.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date is Tuesday, July 30th. Kinder Morgan’s payout ratio is 112.36%.
In related news, insider Richard D. Kinder purchased 300,000 shares of Kinder Morgan stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $19.68 per share, for a total transaction of $5,904,000.00. Following the completion of the transaction, the insider now directly owns 241,179,496 shares in the company, valued at approximately $4,746,412,481.28. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 13.95% of the company’s stock.
A number of research analysts have weighed in on the company. Johnson Rice assumed coverage on Kinder Morgan in a report on Thursday, May 30th. They issued a “hold” rating and a $21.00 target price on the stock. Raymond James downgraded Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 target price on the stock. in a report on Wednesday, June 26th. ValuEngine downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Stifel Nicolaus downgraded Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a report on Monday, June 17th. Finally, BMO Capital Markets cut Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Kinder Morgan currently has an average rating of “Hold” and a consensus price target of $21.75.
About Kinder Morgan
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 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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