State of Michigan Retirement System grew its stake in Kinder Morgan Inc (NYSE:KMI) by 11.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 496,736 shares of the pipeline company’s stock after acquiring an additional 50,280 shares during the quarter. State of Michigan Retirement System’s holdings in Kinder Morgan were worth $7,535,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Red Door Wealth Management LLC acquired a new position in Kinder Morgan in the 1st quarter valued at $26,000. Truehand Inc purchased a new position in Kinder Morgan during the second quarter worth about $27,000. Larson Financial Group LLC boosted its stake in Kinder Morgan by 161.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,845 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,138 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Kinder Morgan in the 1st quarter worth about $31,000. Finally, AlphaMark Advisors LLC grew its holdings in Kinder Morgan by 240.0% in the 1st quarter. AlphaMark Advisors LLC now owns 2,550 shares of the pipeline company’s stock valued at $35,000 after buying an additional 1,800 shares during the period. 61.44% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the stock. Goldman Sachs Group cut shares of Kinder Morgan from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $16.00 to $15.00 in a research report on Monday, July 6th. Mizuho decreased their price target on shares of Kinder Morgan from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Wells Fargo & Co dropped their price objective on Kinder Morgan from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Piper Sandler reduced their target price on Kinder Morgan from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Finally, TD Securities lowered their price target on Kinder Morgan from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $18.72.
In other Kinder Morgan news, major shareholder Richard D. Kinder acquired 300,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were bought at an average cost of $14.14 per share, for a total transaction of $4,242,000.00. Following the acquisition, the insider now directly owns 244,839,120 shares of the company’s stock, valued at $3,462,025,156.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.19% of the stock is owned by company insiders.
Shares of KMI stock opened at $14.10 on Friday. The firm has a fifty day simple moving average of $14.88 and a 200-day simple moving average of $16.63. The company has a market capitalization of $31.89 billion, a PE ratio of 201.46, a price-to-earnings-growth ratio of 5.42 and a beta of 1.04. Kinder Morgan Inc has a twelve month low of $9.42 and a twelve month high of $22.58. The company has a current ratio of 0.48, a quick ratio of 0.50 and a debt-to-equity ratio of 0.98.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, July 22nd. The pipeline company reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. Kinder Morgan had a net margin of 1.41% and a return on equity of 6.02%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the prior year, the company posted $0.22 EPS. Equities research analysts predict that Kinder Morgan Inc will post 0.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date is Friday, July 31st. Kinder Morgan’s dividend payout ratio is currently 110.53%.
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.
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