Abrams Capital Management L.P. acquired a new position in Kinder Morgan (NYSE:KMI) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,472,622 shares of the pipeline company’s stock, valued at approximately $127,598,000. Kinder Morgan accounts for 4.0% of Abrams Capital Management L.P.’s portfolio, making the stock its 12th largest holding. Abrams Capital Management L.P. owned approximately 0.38% of Kinder Morgan at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of KMI. Clearbridge Investments LLC raised its stake in shares of Kinder Morgan by 125.7% in the fourth quarter. Clearbridge Investments LLC now owns 12,648,613 shares of the pipeline company’s stock valued at $228,560,000 after acquiring an additional 7,043,594 shares in the last quarter. Mackenzie Financial Corp raised its stake in Kinder Morgan by 193.5% in the fourth quarter. Mackenzie Financial Corp now owns 8,456,050 shares of the pipeline company’s stock valued at $152,801,000 after buying an additional 5,574,481 shares in the last quarter. Franklin Resources Inc. raised its stake in Kinder Morgan by 9.2% in the first quarter. Franklin Resources Inc. now owns 45,446,733 shares of the pipeline company’s stock valued at $684,415,000 after buying an additional 3,839,865 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Kinder Morgan in the first quarter valued at $38,882,000. Finally, Clearbridge LLC raised its stake in Kinder Morgan by 106.4% in the fourth quarter. Clearbridge LLC now owns 4,939,820 shares of the pipeline company’s stock valued at $89,263,000 after buying an additional 2,546,130 shares in the last quarter. Institutional investors own 61.92% of the company’s stock.
A number of analysts have weighed in on the company. Stifel Nicolaus cut their price target on Kinder Morgan from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, April 30th. Jefferies Financial Group dropped their price objective on Kinder Morgan from $20.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, April 16th. Bank of America raised Kinder Morgan from a “neutral” rating to a “buy” rating and raised their price target for the stock from $15.61 to $20.00 in a report on Wednesday, March 21st. Barclays lowered their price target on Kinder Morgan from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, April 17th. Finally, ValuEngine downgraded shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $21.23.
NYSE KMI traded up $0.21 on Thursday, hitting $16.95. The stock had a trading volume of 12,079,917 shares, compared to its average volume of 16,106,221. Kinder Morgan has a one year low of $14.69 and a one year high of $21.25. The stock has a market cap of $37.83 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 1.88 and a beta of 0.64. The company has a current ratio of 0.48, a quick ratio of 0.40 and a debt-to-equity ratio of 1.01.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, April 18th. The pipeline company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Kinder Morgan had a net margin of 1.95% and a return on equity of 4.57%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. equities research analysts expect that Kinder Morgan will post 0.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Monday, April 30th were paid a dividend of $0.20 per share. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, April 27th. This represents a $0.80 annualized dividend and a dividend yield of 4.72%. Kinder Morgan’s dividend payout ratio is 121.21%.
Kinder Morgan Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada 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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