Smith Chas P & Associates PA Cpas decreased its position in shares of Kinder Morgan Inc (NYSE:KMI) by 23.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,226 shares of the pipeline company’s stock after selling 19,811 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Kinder Morgan were worth $1,156,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Griffin Asset Management Inc. raised its position in shares of Kinder Morgan by 4.8% during the second quarter. Griffin Asset Management Inc. now owns 62,625 shares of the pipeline company’s stock valued at $1,107,000 after buying an additional 2,867 shares during the last quarter. Hoertkorn Richard Charles raised its position in shares of Kinder Morgan by 0.8% during the third quarter. Hoertkorn Richard Charles now owns 382,880 shares of the pipeline company’s stock valued at $6,788,000 after buying an additional 2,880 shares during the last quarter. Wetherby Asset Management Inc. raised its position in shares of Kinder Morgan by 11.7% during the third quarter. Wetherby Asset Management Inc. now owns 27,681 shares of the pipeline company’s stock valued at $490,000 after buying an additional 2,894 shares during the last quarter. Meridian Management Co. raised its position in shares of Kinder Morgan by 2.4% during the second quarter. Meridian Management Co. now owns 127,142 shares of the pipeline company’s stock valued at $2,247,000 after buying an additional 2,925 shares during the last quarter. Finally, OLD National Bancorp IN raised its position in shares of Kinder Morgan by 15.1% during the second quarter. OLD National Bancorp IN now owns 22,384 shares of the pipeline company’s stock valued at $396,000 after buying an additional 2,930 shares during the last quarter. Institutional investors own 61.04% of the company’s stock.
KMI traded down $0.57 during trading hours on Friday, hitting $16.60. The company’s stock had a trading volume of 137,943 shares, compared to its average volume of 15,544,437. Kinder Morgan Inc has a 12 month low of $14.69 and a 12 month high of $19.83. The stock has a market capitalization of $37.88 billion, a PE ratio of 25.20, a P/E/G ratio of 2.32 and a beta of 0.69. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.98 and a current ratio of 1.05.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Wednesday, October 31st were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.82%. The ex-dividend date was Tuesday, October 30th. Kinder Morgan’s payout ratio is 121.21%.
Several equities research analysts have recently issued reports on KMI shares. Goldman Sachs Group started 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 on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Kinder Morgan from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Stifel Nicolaus boosted their price target 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. Zacks Investment Research cut shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Tuesday, November 13th. Finally, Barclays set a $21.00 price target on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Friday, October 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $20.73.
In other news, insider Richard D. Kinder acquired 500,000 shares of the company’s stock in a transaction on Thursday, September 27th. The stock was bought at an average cost of $17.55 per share, with a total value of $8,775,000.00. Following the completion of the purchase, the insider now directly owns 235,212,353 shares of the company’s stock, valued at $4,127,976,795.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 14.16% of the stock is owned by insiders.
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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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