First Trust Advisors LP grew its stake in Kinder Morgan Inc (NYSE:KMI) by 117.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 522,957 shares of the pipeline company’s stock after acquiring an additional 282,890 shares during the quarter. First Trust Advisors LP’s holdings in Kinder Morgan were worth $7,933,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Kinder Morgan by 12.0% in the first quarter. FMR LLC now owns 1,037,820 shares of the pipeline company’s stock worth $20,767,000 after purchasing an additional 111,096 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Kinder Morgan in the fourth quarter worth $126,000. Macquarie Group Ltd. raised its stake in shares of Kinder Morgan by 45.8% in the fourth quarter. Macquarie Group Ltd. now owns 4,557,854 shares of the pipeline company’s stock worth $96,489,000 after purchasing an additional 1,432,384 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Kinder Morgan by 52.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 10,733 shares of the pipeline company’s stock worth $149,000 after purchasing an additional 3,671 shares during the last quarter. Finally, Global Trust Asset Management LLC raised its stake in shares of Kinder Morgan by 263.6% in the first quarter. Global Trust Asset Management LLC now owns 48,733 shares of the pipeline company’s stock worth $647,000 after purchasing an additional 35,330 shares during the last quarter. 61.44% of the stock is currently owned by institutional investors and hedge funds.
KMI has been the subject of several recent analyst reports. Wells Fargo & Co decreased their price target on Kinder Morgan from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Morgan Stanley upped their price objective on Kinder Morgan from $14.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Raymond James reduced their price objective on Kinder Morgan from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Piper Sandler reduced their price objective on Kinder Morgan from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, Cfra reduced their price objective on Kinder Morgan from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $18.72.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 22nd. The pipeline company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.91 billion. Kinder Morgan had a return on equity of 6.02% and a net margin of 1.41%. During the same quarter in the prior year, the company posted $0.22 earnings per share. Research analysts expect that Kinder Morgan Inc will post 0.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be paid a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date of this dividend is Friday, July 31st. Kinder Morgan’s dividend payout ratio (DPR) is 110.53%.
In other Kinder Morgan news, major shareholder Richard D. Kinder acquired 300,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average price of $14.14 per share, with a total value of $4,242,000.00. Following the completion of the purchase, the insider now directly owns 244,839,120 shares in the company, valued at approximately $3,462,025,156.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 14.19% of the company’s stock.
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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