World Investment Advisors LLC purchased a new position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 37,391 shares of the pipeline company's stock, valued at approximately $826,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Northwest Investment Counselors LLC acquired a new position in shares of Kinder Morgan in the third quarter valued at approximately $28,000. HWG Holdings LP purchased a new position in Kinder Morgan in the 2nd quarter valued at $30,000. Planning Capital Management Corp increased its stake in Kinder Morgan by 143.6% in the 3rd quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company's stock valued at $30,000 after buying an additional 797 shares during the period. Strategic Financial Concepts LLC purchased a new position in Kinder Morgan during the 2nd quarter worth $31,000. Finally, HM Payson & Co. lifted its stake in shares of Kinder Morgan by 401.8% in the 3rd quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company's stock worth $32,000 after acquiring an additional 1,145 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Amy W. Chronis acquired 2,241 shares of the business's stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the acquisition, the director now directly owns 23,995 shares in the company, valued at approximately $597,235.55. The trade was a 10.30 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Thomas A. Martin sold 19,121 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total transaction of $502,499.88. Following the completion of the sale, the president now owns 897,652 shares of the company's stock, valued at approximately $23,590,294.56. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 727,263 shares of company stock valued at $18,075,634 in the last ninety days. Insiders own 12.64% of the company's stock.
KMI has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of Kinder Morgan from $26.00 to $29.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Royal Bank of Canada increased their target price on Kinder Morgan from $24.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Tuesday, October 22nd. Bank of America assumed coverage on Kinder Morgan in a report on Thursday, October 17th. They issued a "buy" rating and a $27.00 price target for the company. Stifel Nicolaus increased their price objective on Kinder Morgan from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Tuesday, August 27th. Finally, Barclays boosted their target price on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.75.
Read Our Latest Analysis on KMI
KMI stock opened at $26.56 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35. The company's 50 day simple moving average is $26.23 and its 200-day simple moving average is $22.76. Kinder Morgan, Inc. has a 12 month low of $16.47 and a 12 month high of $28.81. The firm has a market capitalization of $59.01 billion, a PE ratio of 23.30, a P/E/G ratio of 3.88 and a beta of 0.95.
Kinder Morgan (NYSE:KMI - Get Free Report) last announced its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the company posted $0.25 EPS. Kinder Morgan's quarterly revenue was down 5.3% compared to the same quarter last year. Equities analysts expect that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a $0.2875 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.33%. Kinder Morgan's dividend payout ratio (DPR) is 100.88%.
Kinder Morgan, Inc operates as an energy infrastructure company primarily 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 gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.
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