WESPAC Advisors SoCal LLC Purchases 7,275 Shares of Kinder Morgan Inc (NYSE:KMI)

WESPAC Advisors SoCal LLC lifted its stake in shares of Kinder Morgan Inc (NYSE:KMI) by 3.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 232,000 shares of the pipeline company’s stock after acquiring an additional 7,275 shares during the period. Kinder Morgan makes up 2.6% of WESPAC Advisors SoCal LLC’s investment portfolio, making the stock its 19th biggest position. WESPAC Advisors SoCal LLC’s holdings in Kinder Morgan were worth $4,844,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Clearbridge Investments LLC lifted its holdings in shares of Kinder Morgan by 54.6% during the 1st quarter. Clearbridge Investments LLC now owns 29,164,247 shares of the pipeline company’s stock worth $583,577,000 after acquiring an additional 10,302,503 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in Kinder Morgan by 4.7% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 24,890,725 shares of the pipeline company’s stock worth $498,063,000 after purchasing an additional 1,111,744 shares during the last quarter. Geode Capital Management LLC lifted its stake in Kinder Morgan by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 23,513,119 shares of the pipeline company’s stock worth $360,962,000 after purchasing an additional 1,758,792 shares during the last quarter. Northern Trust Corp lifted its stake in Kinder Morgan by 2.7% in the first quarter. Northern Trust Corp now owns 22,121,959 shares of the pipeline company’s stock worth $442,660,000 after purchasing an additional 582,599 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Kinder Morgan by 1.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,679,533 shares of the pipeline company’s stock worth $160,349,000 after purchasing an additional 109,843 shares during the last quarter. 62.56% of the stock is owned by institutional investors.

In related news, insider Richard D. Kinder purchased 300,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average price of $19.68 per share, for a total transaction of $5,904,000.00. Following the completion of the transaction, the insider now directly owns 241,179,496 shares of the company’s stock, valued at $4,746,412,481.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.95% of the stock is currently owned by insiders.

Shares of KMI stock remained flat at $$20.37 during mid-day trading on Friday. 9,850,917 shares of the company’s stock were exchanged, compared to its average volume of 14,760,803. The firm has a 50-day simple moving average of $20.78. Kinder Morgan Inc has a 12-month low of $14.62 and a 12-month high of $21.50. The stock has a market cap of $46.11 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 4.27 and a beta of 0.86. The company has a quick ratio of 0.33, a current ratio of 0.41 and a debt-to-equity ratio of 0.96.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). Kinder Morgan had a net margin of 16.50% and a return on equity of 6.23%. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the firm posted $0.20 EPS. Kinder Morgan’s revenue was down 6.2% compared to the same quarter last year. Research analysts expect that Kinder Morgan Inc will post 0.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Tuesday, July 30th. Kinder Morgan’s payout ratio is 112.36%.

KMI has been the subject of several recent research reports. BMO Capital Markets downgraded shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a research note on Monday, July 29th. Raymond James downgraded shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 price target for the company. in a research note on Wednesday, June 26th. Johnson Rice initiated coverage on shares of Kinder Morgan in a research note on Thursday, May 30th. They issued a “hold” rating and a $21.00 price target for the company. Stifel Nicolaus downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a research note on Monday, June 17th. Finally, Zacks Investment Research restated a “buy” rating and issued a $23.00 price objective on shares of Kinder Morgan in a research report on Saturday, June 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $21.75.

Kinder Morgan 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.

Further Reading: Growth and Income Funds

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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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