Mcrae Capital Management Inc. lifted its position in Kinder Morgan Inc (NYSE:KMI) by 3.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 397,614 shares of the pipeline company’s stock after purchasing an additional 14,950 shares during the period. Kinder Morgan comprises approximately 3.2% of Mcrae Capital Management Inc.’s portfolio, making the stock its 13th biggest holding. Mcrae Capital Management Inc.’s holdings in Kinder Morgan were worth $8,195,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of KMI. Ingalls & Snyder LLC increased its holdings in Kinder Morgan by 12.3% in the 2nd quarter. Ingalls & Snyder LLC now owns 114,793 shares of the pipeline company’s stock worth $2,397,000 after buying an additional 12,569 shares in the last quarter. Chesapeake Wealth Management bought a new stake in shares of Kinder Morgan during the 2nd quarter valued at about $810,000. Lee Financial Co grew its stake in shares of Kinder Morgan by 1.1% during the 2nd quarter. Lee Financial Co now owns 75,678 shares of the pipeline company’s stock valued at $1,580,000 after purchasing an additional 812 shares during the period. Contravisory Investment Management Inc. grew its stake in shares of Kinder Morgan by 22.7% during the 3rd quarter. Contravisory Investment Management Inc. now owns 4,128 shares of the pipeline company’s stock valued at $85,000 after purchasing an additional 765 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Kinder Morgan by 9.5% during the 2nd quarter. Jennison Associates LLC now owns 3,091,779 shares of the pipeline company’s stock valued at $64,556,000 after purchasing an additional 268,800 shares during the period. Hedge funds and other institutional investors own 61.77% of the company’s stock.
A number of research firms have issued reports on KMI. ValuEngine downgraded Kinder Morgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Scotia Howard Weill started coverage on Kinder Morgan in a research note on Tuesday, September 3rd. They set a “sector perform” rating and a $23.00 price objective for the company. Zacks Investment Research reiterated a “buy” rating and set a $23.00 price objective on shares of Kinder Morgan in a research note on Saturday, June 29th. BMO Capital Markets downgraded Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a research note on Monday, July 29th. Finally, Wolfe Research upgraded Kinder Morgan from an “underperform” rating to a “peer perform” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $22.11.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). Kinder Morgan had a return on equity of 6.25% and a net margin of 15.21%. The company had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Kinder Morgan Inc will post 0.96 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Wednesday, October 30th. Kinder Morgan’s dividend payout ratio (DPR) is 112.36%.
In other news, Director Deborah Macdonald bought 5,000 shares of Kinder Morgan stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $19.91 per share, with a total value of $99,550.00. Following the acquisition, the director now owns 30,328 shares of the company’s stock, valued at $603,830.48. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Richard D. Kinder bought 300,000 shares of Kinder Morgan stock in a transaction dated Monday, August 26th. The stock was purchased at an average cost of $19.76 per share, with a total value of $5,928,000.00. Following the completion of the acquisition, the insider now directly owns 241,879,496 shares in the company, valued at approximately $4,779,538,840.96. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 705,000 shares of company stock worth $14,007,550. 13.95% of the stock is owned by corporate insiders.
Kinder Morgan Company Profile
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.
See Also: What is Liquidity?
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.