Prudential Financial Inc. trimmed its position in Kinder Morgan, Inc. (NYSE:KMI – Get Rating) by 49.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,834,190 shares of the pipeline company’s stock after selling 1,768,713 shares during the quarter. Prudential Financial Inc.’s holdings in Kinder Morgan were worth $30,936,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in KMI. Fairfield Bush & CO. purchased a new stake in shares of Kinder Morgan in the 1st quarter worth $93,000. Scotia Capital Inc. lifted its holdings in shares of Kinder Morgan by 12.2% in the 1st quarter. Scotia Capital Inc. now owns 20,676 shares of the pipeline company’s stock worth $391,000 after buying an additional 2,250 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Kinder Morgan by 50.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 192,592 shares of the pipeline company’s stock worth $3,642,000 after buying an additional 64,385 shares during the period. Western Wealth Management LLC purchased a new stake in shares of Kinder Morgan in the 1st quarter worth $253,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Kinder Morgan by 7.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,302,637 shares of the pipeline company’s stock worth $81,364,000 after purchasing an additional 293,497 shares during the last quarter. 61.12% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, VP John W. Schlosser sold 1,500 shares of the stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $18.00, for a total value of $27,000.00. Following the transaction, the vice president now directly owns 24,219 shares of the company’s stock, valued at $435,942. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 4,500 shares of company stock valued at $82,050. Company insiders own 12.51% of the company’s stock.
Kinder Morgan Trading Down 1.8 %
Shares of NYSE:KMI opened at $17.45 on Monday. The business’s 50-day moving average is $18.01 and its 200 day moving average is $17.93. Kinder Morgan, Inc. has a 1 year low of $15.01 and a 1 year high of $20.20. The firm has a market capitalization of $39.22 billion, a P/E ratio of 15.86, a P/E/G ratio of 5.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.62 and a quick ratio of 0.50.
Kinder Morgan (NYSE:KMI – Get Rating) last announced its quarterly earnings data on Wednesday, October 19th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.04). The firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $4.56 billion. Kinder Morgan had a net margin of 13.20% and a return on equity of 7.97%. The firm’s revenue for the quarter was up 35.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. On average, research analysts predict that Kinder Morgan, Inc. will post 1.15 earnings per share for the current fiscal year.
Kinder Morgan Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Stockholders of record on Monday, October 31st were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date of this dividend was Friday, October 28th. Kinder Morgan’s dividend payout ratio is presently 100.91%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on KMI. StockNews.com began coverage on Kinder Morgan in a research note on Wednesday, October 12th. They set a “hold” rating for the company. TD Securities decreased their price objective on Kinder Morgan from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, October 20th. The Goldman Sachs Group upgraded Kinder Morgan from a “sell” rating to a “neutral” rating and set a $19.00 price objective for the company in a research note on Wednesday, September 7th. Barclays decreased their price objective on Kinder Morgan from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 19th. Finally, Wells Fargo & Company decreased their price objective on Kinder Morgan from $20.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.22.
About Kinder Morgan
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Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and underground storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas liquefaction and storage facilities.
See Also
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