Riggs Asset Managment Co. Inc. raised its position in Kinder Morgan Inc (NYSE:KMI) by 33.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,000 shares of the pipeline company’s stock after purchasing an additional 1,000 shares during the quarter. Riggs Asset Managment Co. Inc.’s holdings in Kinder Morgan were worth $84,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in KMI. Founders Capital Management increased its stake in shares of Kinder Morgan by 224.9% in the first quarter. Founders Capital Management now owns 1,228 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 850 shares during the period. Citizens Financial Group Inc RI increased its stake in shares of Kinder Morgan by 119.2% in the first quarter. Citizens Financial Group Inc RI now owns 1,256 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 683 shares during the period. Financial Gravity Wealth Inc. acquired a new position in shares of Kinder Morgan during the first quarter valued at approximately $30,000. Hanson McClain Inc. increased its stake in shares of Kinder Morgan by 606.6% during the first quarter. Hanson McClain Inc. now owns 1,505 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 1,292 shares during the period. Finally, Webster Bank N. A. acquired a new position in shares of Kinder Morgan during the first quarter valued at approximately $31,000. Institutional investors own 62.56% of the company’s stock.
Kinder Morgan stock traded up $0.17 during mid-day trading on Tuesday, hitting $20.01. The company’s stock had a trading volume of 8,101,735 shares, compared to its average volume of 13,332,994. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $44.98 billion, a PE ratio of 22.48, a P/E/G ratio of 4.20 and a beta of 0.86. Kinder Morgan Inc has a twelve month low of $14.62 and a twelve month high of $21.50. The firm’s fifty day simple moving average is $20.83.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $1.00 annualized dividend and a yield of 5.00%. Kinder Morgan’s dividend payout ratio (DPR) is 112.36%.
A number of research analysts recently commented on the stock. Johnson Rice assumed coverage on shares of Kinder Morgan in a research note on Thursday, May 30th. They set a “hold” rating and a $21.00 price objective on the stock. Raymond James lowered 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 note on Wednesday, June 26th. ValuEngine lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. BMO Capital Markets lowered 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 note on Monday, July 29th. Finally, 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. Two equities 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. The stock currently has an average rating of “Hold” and a consensus target price of $21.75.
In other Kinder Morgan news, insider Richard D. Kinder purchased 177,542 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were purchased at an average price of $19.43 per share, for a total transaction of $3,449,641.06. Following the completion of the transaction, the insider now owns 240,579,496 shares in the company, valued at approximately $4,674,459,607.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard D. Kinder purchased 300,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $19.68 per share, for a total transaction of $5,904,000.00. Following the transaction, the insider now owns 241,179,496 shares of the company’s stock, valued at approximately $4,746,412,481.28. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 777,542 shares of company stock worth $15,212,641. 13.95% of the stock is currently owned by company 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.
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