Nippon Life Global Investors Americas Inc. Sells 37,660 Shares of Kinder Morgan Inc (NYSE:KMI)

Nippon Life Global Investors Americas Inc. reduced its position in shares of Kinder Morgan Inc (NYSE:KMI) by 13.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 239,590 shares of the pipeline company’s stock after selling 37,660 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Kinder Morgan were worth $5,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in KMI. Comerica Securities Inc. purchased a new position in shares of Kinder Morgan in the fourth quarter worth approximately $241,000. Geode Capital Management LLC increased its position in shares of 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 worth $360,962,000 after acquiring an additional 1,758,792 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Kinder Morgan in the fourth quarter worth approximately $3,488,000. Thrivent Financial for Lutherans increased its position in shares of Kinder Morgan by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 82,924 shares of the pipeline company’s stock worth $1,275,000 after acquiring an additional 1,463 shares in the last quarter. Finally, Nordea Investment Management AB increased its position 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 in the last quarter. Institutional investors own 62.53% of the company’s stock.

KMI traded down $0.25 on Friday, reaching $20.52. 1,564,089 shares of the company traded hands, compared to its average volume of 11,042,108. 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 stock has a market cap of $46.84 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 4.30 and a beta of 0.85. The business has a 50 day moving average price of $20.87. Kinder Morgan Inc has a 52-week low of $14.62 and a 52-week high of $21.50.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, July 17th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.59 billion. Kinder Morgan had a net margin of 16.50% and a return on equity of 6.23%. Kinder Morgan’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. On average, sell-side analysts anticipate that Kinder Morgan Inc will post 0.96 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Tuesday, July 30th. Kinder Morgan’s dividend payout ratio (DPR) is presently 112.36%.

A number of brokerages recently commented on KMI. Stifel Nicolaus downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research report on Monday, June 17th. ValuEngine downgraded shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Thursday. BMO Capital Markets downgraded shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 price objective on the stock. in a research report on Monday. Raymond James downgraded shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 price objective on the stock. in a research report on Wednesday, June 26th. Finally, Johnson Rice began coverage on shares of Kinder Morgan in a research report on Thursday, May 30th. They set a “hold” rating and a $21.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Kinder Morgan has an average rating of “Hold” and a consensus price target of $21.75.

In other Kinder Morgan news, insider Richard D. Kinder bought 177,542 shares of Kinder Morgan stock in a transaction on Friday, May 10th. The stock was purchased at an average cost of $19.43 per share, for a total transaction of $3,449,641.06. Following the completion of the purchase, the insider now directly owns 240,579,496 shares of the company’s stock, valued at $4,674,459,607.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Richard D. Kinder bought 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, with a total value of $5,904,000.00. Following the completion of the purchase, the insider now directly owns 241,179,496 shares of the company’s stock, valued at $4,746,412,481.28. The disclosure for this purchase can be found here. Insiders acquired 977,542 shares of company stock valued at $19,106,641 over the last quarter. Corporate insiders own 13.95% of the company’s stock.

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.

Read More: What does an outperform rating mean?

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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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