Tiedemann Wealth Management LLC Increases Position in Kinder Morgan, Inc. (KMI)
Tiedemann Wealth Management LLC boosted its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 332.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 479,401 shares of the pipeline company’s stock after buying an additional 368,443 shares during the period. Kinder Morgan makes up about 0.8% of Tiedemann Wealth Management LLC’s portfolio, making the stock its 27th biggest holding. Tiedemann Wealth Management LLC’s holdings in Kinder Morgan were worth $6,925,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its stake in Kinder Morgan by 4.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 6,594,487 shares of the pipeline company’s stock valued at $126,483,000 after buying an additional 268,913 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Kinder Morgan by 3.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,372,821 shares of the pipeline company’s stock valued at $83,871,000 after purchasing an additional 133,621 shares during the period. Amalgamated Bank raised its position in Kinder Morgan by 2.0% during the third quarter. Amalgamated Bank now owns 220,885 shares of the pipeline company’s stock valued at $4,237,000 after purchasing an additional 4,251 shares during the period. LVW Advisors LLC purchased a new stake in Kinder Morgan during the third quarter valued at approximately $444,000. Finally, Hartland & Co. LLC purchased a new stake in Kinder Morgan during the third quarter valued at approximately $1,802,000. 60.87% of the stock is owned by institutional investors.
Shares of Kinder Morgan, Inc. (NYSE:KMI) traded down $0.05 during midday trading on Wednesday, hitting $16.98. The stock had a trading volume of 6,907,695 shares, compared to its average volume of 11,356,688. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.35 and a current ratio of 0.42. Kinder Morgan, Inc. has a 12-month low of $16.70 and a 12-month high of $23.01. The stock has a market capitalization of $38,030.00, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 1.33 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share for the quarter, hitting the 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 prior year, the business posted ($0.10) earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. research analysts expect that Kinder Morgan, Inc. will post 0.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were issued a $0.125 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.50 annualized dividend and a dividend yield of 2.95%. Kinder Morgan’s payout ratio is 89.29%.
A number of brokerages have issued reports on KMI. Morgan Stanley decreased their price objective on Kinder Morgan from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, November 17th. BidaskClub downgraded Kinder Morgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Stifel Nicolaus set a $25.00 price objective on Kinder Morgan and gave the company a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Mizuho restated a “hold” rating and set a $22.00 price objective on shares of Kinder Morgan in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. Kinder Morgan currently has a consensus rating of “Hold” and a consensus price target of $22.97.
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About Kinder Morgan
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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