Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Kinder Morgan Inc (NYSE:KMI) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 423,889 shares of the pipeline company’s stock after selling 13,235 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kinder Morgan were worth $8,974,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC raised its position in shares of Kinder Morgan by 12.0% during the 1st quarter. FMR LLC now owns 1,037,820 shares of the pipeline company’s stock valued at $20,767,000 after acquiring an additional 111,096 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Kinder Morgan by 0.9% during the 2nd quarter. Mackenzie Financial Corp now owns 8,470,654 shares of the pipeline company’s stock valued at $176,867,000 after acquiring an additional 72,814 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Kinder Morgan by 116.4% during the 2nd quarter. Victory Capital Management Inc. now owns 61,725 shares of the pipeline company’s stock valued at $1,289,000 after acquiring an additional 33,208 shares in the last quarter. Andra AP fonden raised its position in shares of Kinder Morgan by 28.1% during the 2nd quarter. Andra AP fonden now owns 220,900 shares of the pipeline company’s stock valued at $4,612,000 after acquiring an additional 48,400 shares in the last quarter. Finally, Peapack Gladstone Financial Corp acquired a new stake in shares of Kinder Morgan during the 2nd quarter valued at approximately $265,000. 62.15% of the stock is currently owned by institutional investors.
In related news, Chairman Richard D. Kinder bought 300,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were purchased at an average cost of $20.17 per share, with a total value of $6,051,000.00. Following the completion of the transaction, the chairman now directly owns 242,179,496 shares of the company’s stock, valued at $4,884,760,434.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Richard D. Kinder bought 59,624 shares of the company’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $20.14 per share, for a total transaction of $1,200,827.36. Following the completion of the transaction, the chairman now directly owns 243,139,120 shares of the company’s stock, valued at $4,896,821,876.80. The disclosure for this purchase can be found here. Insiders acquired 1,459,624 shares of company stock worth $29,187,827 over the last ninety days. 13.95% of the stock is owned by corporate insiders.
Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, January 22nd. The pipeline company reported $0.26 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Kinder Morgan had a return on equity of 6.27% and a net margin of 16.58%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.62 billion. During the same period last year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. Equities research analysts expect that Kinder Morgan Inc will post 0.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.60%. The ex-dividend date is Friday, January 31st. Kinder Morgan’s dividend payout ratio is presently 105.26%.
Several equities research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Kinder Morgan in a research report on Monday, January 6th. They set an “underweight” rating and a $19.00 price target on the stock. Citigroup lowered Kinder Morgan from a “buy” rating to a “neutral” rating in a research report on Monday, January 6th. They noted that the move was a valuation call. Piper Jaffray Companies assumed coverage on Kinder Morgan in a research report on Wednesday, December 18th. They set a “neutral” rating and a $23.00 price target on the stock. Barclays lowered Kinder Morgan from an “overweight” rating to an “equal weight” rating and set a $23.00 price target on the stock. in a research report on Tuesday, January 14th. Finally, SunTrust Banks dropped their price target on Kinder Morgan from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. Kinder Morgan has a consensus rating of “Hold” and an average target price of $21.86.
Kinder Morgan Company 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.
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