Intercontinental Wealth Advisors LLC raised its stake in shares of Kinder Morgan Inc (NYSE:KMI) by 33.4% in the first quarter, Holdings Channel reports. The fund owned 2,456 shares of the pipeline company’s stock after purchasing an additional 615 shares during the period. Intercontinental Wealth Advisors LLC’s holdings in Kinder Morgan were worth $49,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in KMI. Founders Capital Management grew its holdings in Kinder Morgan by 224.9% during the 1st quarter. Founders Capital Management now owns 1,228 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 850 shares in the last quarter. Avestar Capital LLC grew its holdings in Kinder Morgan by 83.5% during the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 985 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new position in Kinder Morgan during the 1st quarter worth approximately $30,000. Hanson McClain Inc. grew its holdings in Kinder Morgan by 606.6% during the 1st quarter. Hanson McClain Inc. now owns 1,505 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 1,292 shares in the last quarter. Finally, Bedel Financial Consulting Inc. grew its holdings in Kinder Morgan by 573.6% during the 4th quarter. Bedel Financial Consulting Inc. now owns 1,987 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 1,692 shares in the last quarter. Institutional investors and hedge funds own 65.34% of the company’s stock.
Shares of Kinder Morgan stock opened at $20.29 on Tuesday. 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 one year low of $14.62 and a one year high of $20.55. The firm has a market cap of $44.74 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.94 and a beta of 0.95.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.25 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.25. Kinder Morgan had a net margin of 11.59% and a return on equity of 6.13%. The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period in the prior year, the company posted $0.22 EPS. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts forecast that Kinder Morgan Inc will post 0.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, April 29th. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.93%. Kinder Morgan’s dividend payout ratio is 112.36%.
In related news, insider Richard D. Kinder purchased 400,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average cost of $19.53 per share, with a total value of $7,812,000.00. Following the purchase, the insider now directly owns 240,201,954 shares in the company, valued at approximately $4,691,144,161.62. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard D. Kinder purchased 300,000 shares of the stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $19.53 per share, for a total transaction of $5,859,000.00. Following the completion of the purchase, the insider now owns 240,879,496 shares in the company, valued at $4,704,376,556.88. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 3,453,964 shares of company stock worth $67,449,269. Corporate insiders own 13.95% of the company’s stock.
Several research analysts have commented on KMI shares. Zacks Investment Research cut shares of Kinder Morgan from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Evercore ISI started coverage on shares of Kinder Morgan in a report on Tuesday, February 5th. They set an “outperform” rating for the company. ValuEngine upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Argus reiterated a “buy” rating and set a $23.00 price target on shares of Kinder Morgan in a report on Tuesday, January 22nd. Finally, Citigroup cut shares of Kinder Morgan from a “buy” rating to a “neutral” rating and set a $20.00 price target for the company. in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.82.
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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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