M&T Bank Corp raised its position in shares of Kinder Morgan Inc (NYSE:KMI) by 11.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 153,671 shares of the pipeline company’s stock after purchasing an additional 15,724 shares during the quarter. M&T Bank Corp’s holdings in Kinder Morgan were worth $2,363,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Avestar Capital LLC lifted its position in shares of Kinder Morgan by 83.5% in the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 985 shares during the period. Intercontinental Wealth Advisors LLC purchased a new stake in shares of Kinder Morgan in the 4th quarter worth about $28,000. Cornerstone Advisors Inc. lifted its position in shares of Kinder Morgan by 129.8% in the 4th quarter. Cornerstone Advisors Inc. now owns 1,896 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 1,071 shares during the period. Bedel Financial Consulting Inc. lifted its position in shares of Kinder Morgan by 573.6% in the 4th quarter. Bedel Financial Consulting Inc. now owns 1,987 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 1,692 shares during the period. Finally, Spence Asset Management purchased a new stake in shares of Kinder Morgan in the 4th quarter worth about $37,000. 61.17% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on KMI. Evercore ISI began coverage on shares of Kinder Morgan in a research report on Tuesday, February 5th. They issued an “outperform” rating for the company. ValuEngine raised shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Argus reaffirmed a “buy” rating and issued a $23.00 target price on shares of Kinder Morgan in a research report on Tuesday, January 22nd. TheStreet raised shares of Kinder Morgan from a “c” rating to a “b-” rating in a research report on Wednesday, January 16th. Finally, Jefferies Financial Group raised shares of Kinder Morgan from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $21.08.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, January 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. Kinder Morgan had a net margin of 11.38% and a return on equity of 5.86%. The company had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the company posted $0.21 EPS. Kinder Morgan’s revenue was up 4.1% on a year-over-year basis. As a group, research analysts forecast that Kinder Morgan Inc will post 1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Thursday, January 31st will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, January 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.38%. Kinder Morgan’s dividend payout ratio is currently 89.89%.
In other news, insider Richard D. Kinder acquired 50,000 shares of Kinder Morgan stock in a transaction on Tuesday, January 29th. The stock was acquired at an average cost of $17.92 per share, for a total transaction of $896,000.00. Following the purchase, the insider now owns 235,262,353 shares in the company, valued at $4,215,901,365.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard D. Kinder acquired 400,000 shares of Kinder Morgan stock in a transaction on Thursday, February 7th. The shares were purchased at an average price of $17.99 per share, with a total value of $7,196,000.00. Following the completion of the purchase, the insider now owns 236,177,613 shares in the company, valued at approximately $4,248,835,257.87. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 700,000 shares of company stock valued at $12,643,500. 14.16% of the stock is owned by company insiders.
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Kinder Morgan Company 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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