Mengis Capital Management Inc. lifted its position in Kinder Morgan Inc (NYSE:KMI) by 22.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,576 shares of the pipeline company’s stock after buying an additional 6,803 shares during the quarter. Mengis Capital Management Inc.’s holdings in Kinder Morgan were worth $666,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. grew its stake in shares of Kinder Morgan by 13.6% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 18,255,609 shares of the pipeline company’s stock valued at $322,577,000 after buying an additional 2,186,054 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Kinder Morgan by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 15,483,633 shares of the pipeline company’s stock worth $273,561,000 after purchasing an additional 322,787 shares during the period. Legal & General Group Plc boosted its position in Kinder Morgan by 0.7% during the second quarter. Legal & General Group Plc now owns 11,028,849 shares of the pipeline company’s stock worth $194,841,000 after purchasing an additional 80,214 shares during the period. Russell Investments Group Ltd. boosted its position in Kinder Morgan by 6.3% during the third quarter. Russell Investments Group Ltd. now owns 10,537,887 shares of the pipeline company’s stock worth $186,451,000 after purchasing an additional 623,705 shares during the period. Finally, Putnam Investments LLC boosted its position in Kinder Morgan by 8.6% during the second quarter. Putnam Investments LLC now owns 9,255,454 shares of the pipeline company’s stock worth $163,544,000 after purchasing an additional 730,488 shares during the period. 60.52% of the stock is owned by institutional investors and hedge funds.
In other news, insider Richard D. Kinder bought 500,000 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was bought at an average price of $17.55 per share, with a total value of $8,775,000.00. Following the completion of the acquisition, the insider now owns 235,212,353 shares of the company’s stock, valued at $4,127,976,795.15. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 14.16% of the stock is currently owned by company insiders.
Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.21. Kinder Morgan had a return on equity of 5.51% and a net margin of 0.78%. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the firm earned $0.15 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts predict that Kinder Morgan Inc will post 0.87 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Tuesday, October 30th. Kinder Morgan’s dividend payout ratio is currently 121.21%.
KMI has been the subject of a number of research analyst reports. Goldman Sachs Group initiated coverage on shares of Kinder Morgan in a research report on Monday, October 8th. They set a “conviction-buy” rating and a $24.00 price objective for the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Thursday, July 19th. JPMorgan Chase & Co. lifted their price objective on shares of Kinder Morgan from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, July 27th. Stifel Nicolaus lifted their price objective on shares of Kinder Morgan from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Finally, Citigroup reduced their price objective on shares of Kinder Morgan from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $20.73.
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About Kinder Morgan
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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