Crossmark Global Holdings Inc. Boosts Position in Kinder Morgan Inc (KMI)
Crossmark Global Holdings Inc. raised its stake in Kinder Morgan Inc (NYSE:KMI) by 32.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 179,688 shares of the pipeline company’s stock after purchasing an additional 44,168 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Kinder Morgan were worth $3,247,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Macquarie Group Ltd. grew its stake in Kinder Morgan by 1.1% in the third quarter. Macquarie Group Ltd. now owns 6,676,184 shares of the pipeline company’s stock valued at $128,049,000 after purchasing an additional 71,980 shares in the last quarter. CI Investments Inc. grew its stake in Kinder Morgan by 32.6% in the third quarter. CI Investments Inc. now owns 4,555,724 shares of the pipeline company’s stock valued at $87,379,000 after purchasing an additional 1,119,021 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Kinder Morgan by 4.3% in 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 purchasing an additional 268,913 shares in the last quarter. Claar Advisors LLC grew its stake in Kinder Morgan by 3,026.4% in the third quarter. Claar Advisors LLC now owns 541,967 shares of the pipeline company’s stock valued at $10,395,000 after purchasing an additional 524,632 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its stake in Kinder Morgan by 11.0% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 13,908,625 shares of the pipeline company’s stock valued at $266,767,000 after purchasing an additional 1,373,610 shares in the last quarter. Hedge funds and other institutional investors own 60.57% of the company’s stock.
A number of research firms have weighed in on KMI. Morgan Stanley decreased their price target on Kinder Morgan from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday. Mizuho restated a “hold” rating and issued a $22.00 price target on shares of Kinder Morgan in a research note on Friday, October 20th. Wells Fargo & Co restated a “market perform” rating on shares of Kinder Morgan in a research note on Thursday, January 11th. Bank of America began coverage on Kinder Morgan in a research note on Tuesday, January 9th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. Kinder Morgan has a consensus rating of “Hold” and an average target price of $22.66.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, January 17th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. Kinder Morgan had a return on equity of 4.38% and a net margin of 1.34%. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period last year, the firm posted $0.08 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. sell-side analysts anticipate that Kinder Morgan Inc will post 0.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.90%. Kinder Morgan’s payout ratio is 5,000.00%.
In other news, VP Thomas A. Martin purchased 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was acquired at an average cost of $17.10 per share, with a total value of $51,300.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William A. Smith purchased 5,500 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were purchased at an average cost of $19.52 per share, with a total value of $107,360.00. Following the completion of the acquisition, the director now owns 14,587 shares in the company, valued at approximately $284,738.24. The disclosure for this purchase can be found here. Company insiders own 13.99% of the company’s stock.
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Kinder Morgan 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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