Financial Advocates Investment Management lowered its stake in Kinder Morgan Inc (NYSE:KMI) by 11.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,678 shares of the pipeline company’s stock after selling 1,854 shares during the quarter. Financial Advocates Investment Management’s holdings in Kinder Morgan were worth $226,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. raised its holdings in Kinder Morgan by 280.1% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 94,472 shares of the pipeline company’s stock worth $1,453,000 after purchasing an additional 69,618 shares in the last quarter. Kentucky Retirement Systems raised its holdings in Kinder Morgan by 48.5% in the fourth quarter. Kentucky Retirement Systems now owns 82,561 shares of the pipeline company’s stock worth $1,270,000 after purchasing an additional 26,972 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Kinder Morgan in the fourth quarter worth $577,000. Headinvest LLC grew its stake in shares of Kinder Morgan by 96.5% in the fourth quarter. Headinvest LLC now owns 213,824 shares of the pipeline company’s stock worth $3,289,000 after acquiring an additional 104,984 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Kinder Morgan by 6.6% in the fourth quarter. Nordea Investment Management AB now owns 137,699 shares of the pipeline company’s stock worth $2,118,000 after acquiring an additional 8,491 shares during the last quarter. Hedge funds and other institutional investors own 65.02% of the company’s stock.
In other news, Chairman Richard D. Kinder bought 29,622 shares of the stock in a transaction on Tuesday, April 23rd. The shares were bought at an average price of $19.90 per share, with a total value of $589,477.80. Following the completion of the acquisition, the chairman now owns 239,601,954 shares in the company, valued at $4,768,078,884.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John W. Schlosser sold 54,100 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $19.63, for a total value of $1,061,983.00. Following the completion of the transaction, the vice president now directly owns 34,632 shares in the company, valued at approximately $679,826.16. The disclosure for this sale can be found here. In the last three months, insiders acquired 3,295,534 shares of company stock worth $62,923,242. 13.95% of the stock is owned by corporate insiders.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. Kinder Morgan had a return on equity of 6.13% and a net margin of 11.59%. The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period last year, the firm posted $0.22 earnings per share. Kinder Morgan’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that Kinder Morgan Inc will post 0.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.25 dividend. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, April 29th. This represents a $1.00 dividend on an annualized basis and a yield of 5.01%. Kinder Morgan’s dividend payout ratio is currently 89.89%.
KMI has been the topic of a number of recent research reports. TheStreet raised Kinder Morgan from a “c” rating to a “b-” rating in a research note on Wednesday, January 16th. Argus reissued a “buy” rating and issued a $23.00 target price on shares of Kinder Morgan in a research note on Tuesday, January 22nd. Evercore ISI initiated coverage on Kinder Morgan in a research note on Tuesday, February 5th. They issued an “outperform” rating on the stock. Raymond James cut Kinder Morgan from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, April 16th. They noted that the move was a valuation call. Finally, Citigroup cut Kinder Morgan from a “buy” rating to a “neutral” rating and set a $20.00 target price on the stock. in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. Kinder Morgan presently has an average rating of “Buy” and an average target price of $21.82.
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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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