Mcrae Capital Management Inc. reduced its position in Kinder Morgan, Inc. (NYSE:KMI – Get Rating) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 733,270 shares of the pipeline company's stock after selling 7,467 shares during the quarter. Kinder Morgan makes up about 3.3% of Mcrae Capital Management Inc.'s investment portfolio, making the stock its 9th biggest holding. Mcrae Capital Management Inc.'s holdings in Kinder Morgan were worth $12,290,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. grew its holdings in shares of Kinder Morgan by 0.4% during the fourth quarter. Alliancebernstein L.P. now owns 2,916,355 shares of the pipeline company's stock valued at $46,253,000 after purchasing an additional 12,278 shares during the last quarter. Eaton Vance Management lifted its position in Kinder Morgan by 66.0% in the fourth quarter. Eaton Vance Management now owns 295,235 shares of the pipeline company's stock worth $4,140,000 after purchasing an additional 117,386 shares during the period. Guggenheim Capital LLC lifted its position in Kinder Morgan by 86.5% in the fourth quarter. Guggenheim Capital LLC now owns 1,109,454 shares of the pipeline company's stock worth $17,597,000 after purchasing an additional 514,423 shares during the period. Lombard Odier Asset Management Europe Ltd acquired a new stake in Kinder Morgan in the fourth quarter worth approximately $4,641,000. Finally, Canada Pension Plan Investment Board lifted its position in shares of Kinder Morgan by 28.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 870,546 shares of the pipeline company's stock valued at $13,807,000 after acquiring an additional 193,541 shares during the last quarter. 61.12% of the stock is owned by institutional investors.
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Insider Activity at Kinder Morgan
In related news, VP John W. Schlosser sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $19.17, for a total value of $28,755.00. Following the completion of the sale, the vice president now owns 27,219 shares of the company's stock, valued at $521,788.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Kinder Morgan news, VP John W. Schlosser sold 1,500 shares of the firm's stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $19.17, for a total value of $28,755.00. Following the transaction, the vice president now directly owns 27,219 shares of the company's stock, valued at $521,788.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John W. Schlosser sold 3,000 shares of the firm'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 transaction, the vice president now directly owns 28,719 shares in the company, valued at $516,942. The disclosure for this sale can be found here. 14.22% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
KMI has been the subject of a number of recent research reports. UBS Group increased their price objective on Kinder Morgan to $25.00 in a research report on Friday, July 22nd. The Goldman Sachs Group raised shares of Kinder Morgan from a "sell" rating to a "neutral" rating and set a $19.00 price target on the stock in a research note on Wednesday, September 7th. US Capital Advisors reaffirmed a "hold" rating on shares of Kinder Morgan in a research note on Wednesday, June 1st. Finally, Barclays increased their target price on shares of Kinder Morgan from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Kinder Morgan currently has an average rating of "Hold" and a consensus target price of $21.00.
Kinder Morgan Price Performance
Shares of NYSE KMI traded down $0.32 during mid-day trading on Thursday, hitting $16.52. 110,242 shares of the stock were exchanged, compared to its average volume of 18,569,180. The company has a market cap of $37.22 billion, a P/E ratio of 15.74, a PEG ratio of 4.54 and a beta of 0.92. The stock's fifty day simple moving average is $18.07 and its two-hundred day simple moving average is $18.24. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.42 and a current ratio of 0.52. Kinder Morgan, Inc. has a twelve month low of $15.01 and a twelve month high of $20.20.
Kinder Morgan (NYSE:KMI – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The pipeline company reported $0.27 earnings per share for the quarter, meeting analysts' consensus estimates of $0.27. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $3.67 billion. Kinder Morgan had a net margin of 13.76% and a return on equity of 7.82%. Kinder Morgan's revenue for the quarter was up 63.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. As a group, analysts forecast that Kinder Morgan, Inc. will post 1.2 EPS for the current fiscal year.
Kinder Morgan Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 1st were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date was Friday, July 29th. Kinder Morgan's dividend payout ratio is currently 103.74%.
About Kinder Morgan
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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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