Cedar Hill Associates LLC Invests $241,000 in Kinder Morgan Inc (KMI)
Cedar Hill Associates LLC acquired a new stake in Kinder Morgan Inc (NYSE:KMI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,554 shares of the pipeline company’s stock, valued at approximately $241,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Private Harbour Investment Management & Counsel LLC raised its stake in Kinder Morgan by 0.3% during the 2nd quarter. Private Harbour Investment Management & Counsel LLC now owns 15,050 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 50 shares in the last quarter. North Star Asset Management Inc. raised its stake in Kinder Morgan by 0.6% during the 2nd quarter. North Star Asset Management Inc. now owns 10,029 shares of the pipeline company’s stock worth $192,000 after acquiring an additional 61 shares in the last quarter. CNH Partners LLC raised its stake in Kinder Morgan by 0.4% during the 2nd quarter. CNH Partners LLC now owns 27,467 shares of the pipeline company’s stock worth $526,000 after acquiring an additional 100 shares in the last quarter. Merriman Wealth Management LLC raised its stake in Kinder Morgan by 0.4% during the 2nd quarter. Merriman Wealth Management LLC now owns 59,481 shares of the pipeline company’s stock worth $1,140,000 after acquiring an additional 239 shares in the last quarter. Finally, Fernwood Investment Management LLC raised its stake in Kinder Morgan by 1.6% during the 2nd quarter. Fernwood Investment Management LLC now owns 19,999 shares of the pipeline company’s stock worth $383,000 after acquiring an additional 319 shares in the last quarter. Institutional investors and hedge funds own 60.88% of the company’s stock.
Several equities research analysts recently commented on the stock. Stifel Nicolaus cut their price target on shares of Kinder Morgan from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, October 24th. Mizuho reiterated a “hold” rating and set a $22.00 price target on shares of Kinder Morgan in a research note on Friday, October 20th. Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. SunTrust Banks set a $23.00 price objective on shares of Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, October 19th. Finally, Goldman Sachs Group downgraded shares of Kinder Morgan from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $18.81 to $22.00 in a research report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $22.97.
Shares of Kinder Morgan Inc (NYSE KMI) traded down $0.10 during trading hours on Tuesday, hitting $17.86. 4,179,587 shares of the stock traded hands, compared to its average volume of 11,614,710. The stock has a market capitalization of $39,729.34, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 1.38 and a beta of 0.62. The company has a current ratio of 0.42, a quick ratio of 0.35 and a debt-to-equity ratio of 0.96. Kinder Morgan Inc has a 1-year low of $16.68 and a 1-year high of $23.01.
Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.21 billion. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.33%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. sell-side analysts forecast that Kinder Morgan Inc will post 0.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Monday, October 30th. Kinder Morgan’s payout ratio is 89.29%.
In other news, VP Thomas A. Martin bought 3,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were acquired at an average price of $17.10 per share, with a total value of $51,300.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.99% of the stock is owned by insiders.
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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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