Monetary Management Group Inc. trimmed its holdings in Kinder Morgan Inc (NYSE:KMI) by 9.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 34,100 shares of the pipeline company’s stock after selling 3,526 shares during the quarter. Monetary Management Group Inc.’s holdings in Kinder Morgan were worth $475,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in KMI. FMR LLC lifted its holdings in shares of Kinder Morgan by 12.0% in the 1st quarter. FMR LLC now owns 1,037,820 shares of the pipeline company’s stock worth $20,767,000 after acquiring an additional 111,096 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Kinder Morgan by 27.3% in the 4th quarter. Park Avenue Securities LLC now owns 13,660 shares of the pipeline company’s stock worth $289,000 after acquiring an additional 2,929 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Kinder Morgan by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 381,811 shares of the pipeline company’s stock worth $8,083,000 after acquiring an additional 1,493 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Kinder Morgan by 6.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,808,956 shares of the pipeline company’s stock worth $37,753,000 after acquiring an additional 117,099 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Kinder Morgan by 12.3% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 434,256 shares of the pipeline company’s stock worth $9,206,000 after acquiring an additional 47,503 shares during the last quarter. Hedge funds and other institutional investors own 61.59% of the company’s stock.
KMI traded down $0.98 during midday trading on Thursday, hitting $15.95. 780,260 shares of the company traded hands, compared to its average volume of 17,558,113. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $36.25 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 6.50 and a beta of 1.05. The company’s 50-day moving average is $15.39 and its 200 day moving average is $18.04. Kinder Morgan Inc has a 52 week low of $9.42 and a 52 week high of $22.58.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, April 22nd. The pipeline company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.03). The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.41 billion. Kinder Morgan had a return on equity of 6.24% and a net margin of 10.31%. Kinder Morgan’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. On average, sell-side analysts predict that Kinder Morgan Inc will post 0.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a yield of 6.58%. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, May 1st. Kinder Morgan’s dividend payout ratio is currently 110.53%.
KMI has been the subject of a number of recent research reports. Mizuho lowered their price objective on shares of Kinder Morgan from $23.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Barclays raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a research note on Tuesday, March 24th. Piper Sandler decreased their target price on shares of Kinder Morgan from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Cfra decreased their target price on shares of Kinder Morgan from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Finally, Bank of America raised shares of Kinder Morgan from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, March 11th. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Kinder Morgan has an average rating of “Buy” and a consensus target price of $19.21.
In related news, Director William A. Smith acquired 6,500 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was acquired at an average cost of $15.35 per share, with a total value of $99,775.00. Following the acquisition, the director now directly owns 21,087 shares in the company, valued at approximately $323,685.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 14.19% of the company’s stock.
About Kinder Morgan
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.
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