Domani Wealth LLC grew its stake in shares of Kinder Morgan Inc (NYSE:KMI) by 55.3% during the second quarter, HoldingsChannel reports. The firm owned 139,869 shares of the pipeline company’s stock after buying an additional 49,834 shares during the period. Kinder Morgan accounts for 1.1% of Domani Wealth LLC’s portfolio, making the stock its 18th largest position. Domani Wealth LLC’s holdings in Kinder Morgan were worth $2,920,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in KMI. Comerica Securities Inc. acquired a new position in Kinder Morgan during the 4th quarter worth approximately $241,000. Geode Capital Management LLC increased its position in Kinder Morgan by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 23,513,119 shares of the pipeline company’s stock valued at $360,962,000 after acquiring an additional 1,758,792 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Kinder Morgan during the fourth quarter worth $3,488,000. MML Investors Services LLC increased its position in shares of Kinder Morgan by 10.7% during the fourth quarter. MML Investors Services LLC now owns 77,676 shares of the pipeline company’s stock worth $1,195,000 after buying an additional 7,526 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Kinder Morgan during the fourth quarter worth $784,000. Institutional investors and hedge funds own 62.59% of the company’s stock.
In other Kinder Morgan news, insider Richard D. Kinder bought 400,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average cost of $19.53 per share, for a total transaction of $7,812,000.00. Following the completion of the transaction, the insider now owns 240,201,954 shares in the company, valued at $4,691,144,161.62. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Richard D. Kinder purchased 300,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average price of $19.68 per share, for a total transaction of $5,904,000.00. Following the purchase, 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. Over the last 90 days, insiders purchased 1,577,542 shares of company stock valued at $30,896,641. 13.95% of the stock is owned by corporate insiders.
KMI has been the topic of several research analyst reports. Goldman Sachs Group raised shares of Bright Scholar Education Holdngs from a “neutral” rating to a “buy” rating and set a $10.28 target price on the stock in a research note on Thursday, March 28th. Stifel Nicolaus raised their price target on shares of Mondelez International from $48.00 to $52.00 and gave the company a “hold” rating in a research report on Monday, June 17th. Raymond James assumed coverage on shares of Planet Fitness in a report on Wednesday, June 26th. They set an “outperform” rating and a $80.00 price objective for the company. Zacks Investment Research restated a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th. Finally, Johnson Rice began coverage on shares of Enterprise Products Partners in a research note on Thursday, May 30th. They issued a “buy” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $21.73.
Shares of NYSE KMI traded up $0.27 during midday trading on Friday, hitting $20.85. 614,092 shares of the company’s stock traded hands, compared to its average volume of 10,758,792. Kinder Morgan Inc has a 1 year low of $14.62 and a 1 year high of $21.50. The stock has a market capitalization of $46.75 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 4.30 and a beta of 0.85. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.41 and a quick ratio of 0.37. The company has a fifty day moving average price of $20.89.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 17th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). Kinder Morgan had a return on equity of 6.23% and a net margin of 16.50%. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the company posted $0.20 earnings per share. The company’s revenue was down 6.2% compared to the same quarter last year. On average, analysts predict that Kinder Morgan Inc will post 0.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, July 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.80%. Kinder Morgan’s dividend payout ratio is currently 112.36%.
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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