Dupont Capital Management Corp Lowers Stake in Kinder Morgan Inc (KMI)

Share on StockTwits

Dupont Capital Management Corp cut its holdings in Kinder Morgan Inc (NYSE:KMI) by 34.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 305,522 shares of the pipeline company’s stock after selling 157,139 shares during the quarter. Dupont Capital Management Corp’s holdings in Kinder Morgan were worth $6,113,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in Kinder Morgan in the fourth quarter valued at about $299,180,000. BlackRock Inc. boosted its holdings in Kinder Morgan by 7.4% during the fourth quarter. BlackRock Inc. now owns 136,557,027 shares of the pipeline company’s stock worth $2,100,249,000 after buying an additional 9,360,355 shares during the last quarter. Millennium Management LLC boosted its holdings in Kinder Morgan by 1,169.3% during the fourth quarter. Millennium Management LLC now owns 9,022,925 shares of the pipeline company’s stock worth $138,773,000 after buying an additional 8,312,075 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Kinder Morgan by 1,497.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,112,727 shares of the pipeline company’s stock worth $462,000 after buying an additional 6,667,564 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. boosted its holdings in Kinder Morgan by 31.7% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 23,778,981 shares of the pipeline company’s stock worth $365,721,000 after buying an additional 5,716,899 shares during the last quarter. Institutional investors own 65.05% of the company’s stock.

Shares of NYSE KMI opened at $19.36 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.45 and a debt-to-equity ratio of 0.97. Kinder Morgan Inc has a 12 month low of $14.62 and a 12 month high of $20.44. The company has a market cap of $43.10 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 2.89 and a beta of 0.95.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.63 billion. Kinder Morgan had a return on equity of 6.13% and a net margin of 11.59%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. On average, research analysts expect that Kinder Morgan Inc will post 0.98 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, April 29th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 5.17%. Kinder Morgan’s payout ratio is 112.36%.

In related news, insider Richard D. Kinder bought 400,000 shares of the business’s stock in a transaction dated Thursday, February 7th. The stock was purchased at an average cost of $17.99 per share, for a total transaction of $7,196,000.00. Following the transaction, the insider now owns 236,177,613 shares in the company, valued at approximately $4,248,835,257.87. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Richard D. Kinder bought 150,000 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were bought at an average price of $18.31 per share, with a total value of $2,746,500.00. Following the completion of the transaction, the insider now owns 235,777,613 shares in the company, valued at approximately $4,317,088,094.03. The disclosure for this purchase can be found here. Insiders purchased a total of 3,345,534 shares of company stock valued at $64,200,242 over the last 90 days. 13.95% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lowered Kinder Morgan from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $21.00 to $22.00 in a research report on Friday, March 22nd. Citigroup lowered Kinder Morgan from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research report on Wednesday, March 27th. Zacks Investment Research lowered Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Jefferies Financial Group lowered Kinder Morgan from a “buy” rating to a “hold” rating and raised their price target for the stock from $19.00 to $20.00 in a research report on Monday, April 1st. Finally, Goldman Sachs Group lowered Kinder Morgan from a “conviction-buy” rating to a “buy” rating and set a $23.00 target price on the stock. in a research report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $21.82.

WARNING: This piece was originally reported by Week Herald and is the sole property of of Week Herald. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://weekherald.com/2019/05/03/dupont-capital-management-corp-lowers-stake-in-kinder-morgan-inc-kmi.html.

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.

Featured Article: Buyback

Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan Inc (NYSE:KMI).

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

Receive News & Ratings for Kinder Morgan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinder Morgan and related companies with MarketBeat.com's FREE daily email newsletter.