TIAA FSB lowered its holdings in shares of Kinder Morgan Inc (NYSE:KMI) by 9.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,358 shares of the pipeline company’s stock after selling 2,097 shares during the period. TIAA FSB’s holdings in Kinder Morgan were worth $387,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Avestar Capital LLC increased its position in shares of Kinder Morgan by 83.5% during the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 985 shares during the period. Intercontinental Wealth Advisors LLC acquired a new position in shares of Kinder Morgan in the 4th quarter worth $28,000. Cornerstone Advisors Inc. grew its holdings in shares of Kinder Morgan by 129.8% in the 4th quarter. Cornerstone Advisors Inc. now owns 1,896 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 1,071 shares during the last quarter. Bedel Financial Consulting Inc. grew its holdings in shares of Kinder Morgan by 573.6% in the 4th quarter. Bedel Financial Consulting Inc. now owns 1,987 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 1,692 shares during the last quarter. Finally, Webster Bank N. A. acquired a new position in shares of Kinder Morgan in the 1st quarter worth $31,000. 65.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:KMI opened at $19.70 on Friday. Kinder Morgan Inc has a fifty-two week low of $14.62 and a fifty-two week high of $20.44. The stock has a market capitalization of $43.46 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 2.87 and a beta of 0.95. The company has a quick ratio of 0.37, a current ratio of 0.45 and a debt-to-equity ratio of 0.97.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, April 29th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.08%. Kinder Morgan’s payout ratio is presently 112.36%.
A number of brokerages have recently weighed in on KMI. Raymond James downgraded Kinder Morgan from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, April 16th. They noted that the move was a valuation call. JPMorgan Chase & Co. downgraded Kinder Morgan from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $21.00 to $22.00 in a report on Friday, March 22nd. Goldman Sachs Group downgraded Kinder Morgan from a “conviction-buy” rating to a “buy” rating and set a $23.00 price target on the stock. in a report on Thursday, March 28th. Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group cut Kinder Morgan from a “buy” rating to a “hold” rating and lifted their price objective for the company from $19.00 to $20.00 in a research report on Monday, April 1st. 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 stock. The company currently has an average rating of “Buy” and a consensus target price of $21.82.
In other Kinder Morgan news, insider Richard D. Kinder acquired 200,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $19.47 per share, for a total transaction of $3,894,000.00. Following the completion of the purchase, the insider now owns 240,401,954 shares of the company’s stock, valued at approximately $4,680,626,044.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John W. Schlosser sold 54,100 shares of Kinder Morgan stock in a transaction dated Friday, March 8th. The stock was 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 owns 34,632 shares in the company, valued at $679,826.16. The disclosure for this sale can be found here. Insiders bought 3,395,534 shares of company stock worth $65,963,742 over the last quarter. 13.95% of the stock is currently owned by corporate insiders.
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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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