Los Angeles Capital Management LLC boosted its holdings in Kinder Morgan, Inc. (NYSE:KMI – Get Rating) by 31.8% during the first quarter, HoldingsChannel.com reports. The fund owned 1,408,231 shares of the pipeline company’s stock after purchasing an additional 339,884 shares during the period. Los Angeles Capital Management LLC’s holdings in Kinder Morgan were worth $26,630,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. City State Bank bought a new stake in Kinder Morgan in the fourth quarter valued at about $25,000. Joseph P. Lucia & Associates LLC bought a new stake in Kinder Morgan in the first quarter valued at about $29,000. Toth Financial Advisory Corp boosted its position in Kinder Morgan by 177.2% in the first quarter. Toth Financial Advisory Corp now owns 1,663 shares of the pipeline company’s stock valued at $31,000 after buying an additional 1,063 shares in the last quarter. Elkhorn Partners Limited Partnership acquired a new position in Kinder Morgan in the fourth quarter valued at about $32,000. Finally, American National Bank boosted its position in Kinder Morgan by 63.6% in the first quarter. American National Bank now owns 1,667 shares of the pipeline company’s stock valued at $32,000 after buying an additional 648 shares in the last quarter. Institutional investors own 58.53% of the company’s stock.
Insider Activity at Kinder Morgan
In related news, VP John W. Schlosser sold 3,000 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $18.00, for a total value of $54,000.00. Following the transaction, the vice president now directly owns 28,719 shares in the company, valued at $516,942. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Kinder Morgan news, VP John W. Schlosser sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $19.21, for a total value of $28,815.00. Following the completion of the sale, the vice president now owns 31,719 shares of the company’s stock, valued at $609,321.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John W. Schlosser sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $18.00, for a total transaction of $54,000.00. Following the completion of the sale, the vice president now directly owns 28,719 shares of the company’s stock, valued at approximately $516,942. The disclosure for this sale can be found here. 14.22% of the stock is currently owned by company insiders.
Kinder Morgan Price Performance
Kinder Morgan (NYSE:KMI – Get Rating) last announced its earnings results on Wednesday, July 20th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. Kinder Morgan had a net margin of 13.76% and a return on equity of 7.82%. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period in the prior year, the business earned $0.23 earnings per share. Kinder Morgan’s quarterly revenue was up 63.5% on a year-over-year basis. Sell-side analysts forecast that Kinder Morgan, Inc. will post 1.2 EPS for the current fiscal year.
Kinder Morgan Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 1st will be issued a $0.2775 dividend. The ex-dividend date is Friday, July 29th. This represents a $1.11 annualized dividend and a yield of 6.35%. Kinder Morgan’s dividend payout ratio is currently 103.74%.
Wall Street Analyst Weigh In
A number of research firms have commented on KMI. Mizuho boosted their price target on shares of Kinder Morgan from $21.00 to $22.00 in a research report on Thursday, April 21st. Wolfe Research lowered shares of Kinder Morgan from a “peer perform” rating to an “underperform” rating and boosted their price target for the company from $17.00 to $18.00 in a research report on Monday, April 11th. US Capital Advisors restated a “hold” rating on shares of Kinder Morgan in a research report on Wednesday, June 1st. Morgan Stanley boosted their price target on shares of Kinder Morgan from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, April 20th. Finally, UBS Group boosted their price target on shares of Kinder Morgan to $25.00 in a research report on Friday, July 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Kinder Morgan has a consensus rating of “Hold” and an average price target of $21.14.
Kinder Morgan Profile
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.
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