Cambridge Investment Research Advisors Inc. trimmed its holdings in Kinder Morgan Inc (NYSE:KMI) by 4.8% in the first quarter, Holdings Channel reports. The institutional investor owned 254,145 shares of the pipeline company’s stock after selling 12,825 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Kinder Morgan were worth $3,538,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. West Family Investments Inc. bought a new stake in shares of Kinder Morgan in the first quarter valued at approximately $802,000. BRYN MAWR TRUST Co acquired a new position in Kinder Morgan in the 1st quarter valued at $140,000. Hoylecohen LLC lifted its position in shares of Kinder Morgan by 12.9% during the 1st quarter. Hoylecohen LLC now owns 298,908 shares of the pipeline company’s stock valued at $4,161,000 after acquiring an additional 34,159 shares during the period. First Pacific Advisors LP grew its holdings in shares of Kinder Morgan by 6.2% during the 1st quarter. First Pacific Advisors LP now owns 15,321,824 shares of the pipeline company’s stock worth $213,280,000 after purchasing an additional 892,778 shares in the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of Kinder Morgan by 36.8% during the 1st quarter. Cetera Advisors LLC now owns 38,351 shares of the pipeline company’s stock worth $534,000 after purchasing an additional 10,325 shares in the last quarter. Institutional investors own 62.75% of the company’s stock.
NYSE KMI opened at $15.41 on Friday. The company has a market capitalization of $34.74 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 7.14 and a beta of 1.04. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 0.94. Kinder Morgan Inc has a twelve month low of $9.42 and a twelve month high of $22.58. The stock has a fifty day simple moving average of $14.75 and a 200 day simple moving average of $18.44.
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a $0.2625 dividend. The ex-dividend date was Friday, May 1st. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.25. This represents a $1.05 annualized dividend and a yield of 6.81%. Kinder Morgan’s dividend payout ratio is presently 110.53%.
Several equities research analysts recently weighed in on KMI shares. ValuEngine raised shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Thursday, March 5th. TheStreet downgraded shares of Kinder Morgan from a “b-” rating to a “c+” rating in a report on Tuesday, March 24th. Mizuho reduced their price target on shares of Kinder Morgan from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Citigroup lowered their price objective on shares of Kinder Morgan from $21.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Cfra cut their target price on Kinder Morgan from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $19.40.
In other news, major shareholder Richard D. Kinder acquired 500,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was bought at an average cost of $14.25 per share, for a total transaction of $7,125,000.00. Also, Director William A. Smith bought 6,500 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were purchased at an average cost of $15.35 per share, with a total value of $99,775.00. Following the purchase, the director now directly owns 21,087 shares of the company’s stock, valued at $323,685.45. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,406,500 shares of company stock valued at $24,957,775 in the last three months. Insiders own 14.19% of the company’s stock.
Kinder Morgan 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.
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