Kinder Morgan, Inc. (KMI) Shares Sold by Jennison Associates LLC
Jennison Associates LLC decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,899,402 shares of the pipeline company’s stock after selling 131,804 shares during the period. Jennison Associates LLC owned 0.13% of Kinder Morgan worth $55,611,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Commonwealth Bank of Australia increased its position in Kinder Morgan by 45.9% during the second quarter. Commonwealth Bank of Australia now owns 19,733,993 shares of the pipeline company’s stock worth $378,101,000 after buying an additional 6,205,165 shares during the period. Dimensional Fund Advisors LP increased its position in Kinder Morgan by 22.9% during the second quarter. Dimensional Fund Advisors LP now owns 11,901,548 shares of the pipeline company’s stock worth $228,029,000 after buying an additional 2,217,905 shares during the period. Atlantic Trust Group LLC increased its position in Kinder Morgan by 1.3% during the second quarter. Atlantic Trust Group LLC now owns 11,484,627 shares of the pipeline company’s stock worth $220,046,000 after buying an additional 146,901 shares during the period. Brookfield Asset Management Inc. increased its position in Kinder Morgan by 4.3% during the second quarter. Brookfield Asset Management Inc. now owns 10,843,859 shares of the pipeline company’s stock worth $207,769,000 after buying an additional 447,389 shares during the period. Finally, Legal & General Group Plc increased its position in Kinder Morgan by 3.9% during the second quarter. Legal & General Group Plc now owns 10,677,335 shares of the pipeline company’s stock worth $204,577,000 after buying an additional 403,448 shares during the period. 59.03% of the stock is currently owned by institutional investors.
Several research firms have commented on KMI. Raymond James Financial, Inc. reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $26.00 price target on shares of Kinder Morgan in a research report on Friday, July 28th. Mizuho began coverage on Kinder Morgan in a research report on Thursday, July 27th. They set a “neutral” rating and a $22.00 price target on the stock. Zacks Investment Research raised Kinder Morgan from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 price target on shares of Kinder Morgan in a research report on Thursday, July 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Kinder Morgan currently has a consensus rating of “Hold” and an average price target of $23.03.
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Shares of Kinder Morgan, Inc. (NYSE KMI) opened at $17.46 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.42 and a debt-to-equity ratio of 0.96. Kinder Morgan, Inc. has a 12 month low of $17.41 and a 12 month high of $23.01. The firm has a market capitalization of $39,461.35, a P/E ratio of 27.18, a P/E/G ratio of 1.37 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.15. Kinder Morgan had a return on equity of 4.33% and a net margin of 10.39%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the previous year, the business earned ($0.10) earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. research analysts anticipate that Kinder Morgan, Inc. will post 0.64 EPS for the current year.
Kinder Morgan announced that its board has authorized a share buyback plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the pipeline company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Tuesday, October 31st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.86%. Kinder Morgan’s dividend payout ratio (DPR) is presently 89.29%.
Kinder Morgan Company Profile
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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