Front Barnett Associates LLC Decreases Position in Kinder Morgan Inc (KMI)
Front Barnett Associates LLC trimmed its position in Kinder Morgan Inc (NYSE:KMI) by 13.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,571 shares of the pipeline company’s stock after selling 2,750 shares during the period. Front Barnett Associates LLC’s holdings in Kinder Morgan were worth $270,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Avestar Capital LLC boosted its stake in Kinder Morgan by 83.5% in the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 985 shares during the period. Intercontinental Wealth Advisors LLC acquired a new position in Kinder Morgan in the fourth quarter valued at approximately $28,000. Cornerstone Advisors Inc. boosted its stake in Kinder Morgan by 129.8% in the fourth quarter. Cornerstone Advisors Inc. now owns 1,896 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 1,071 shares during the period. Bedel Financial Consulting Inc. boosted its stake in Kinder Morgan by 573.6% in the fourth quarter. Bedel Financial Consulting Inc. now owns 1,987 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 1,692 shares during the period. Finally, Spence Asset Management acquired a new position in Kinder Morgan in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 62.57% of the company’s stock.
In other news, insider Richard D. Kinder bought 400,000 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The shares were purchased at an average price of $17.99 per share, with a total value of $7,196,000.00. Following the completion of the acquisition, the insider now directly owns 236,177,613 shares in the company, valued at $4,248,835,257.87. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard D. Kinder bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 29th. The shares were purchased at an average cost of $17.92 per share, for a total transaction of $896,000.00. Following the acquisition, the insider now owns 235,262,353 shares of the company’s stock, valued at $4,215,901,365.76. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,100,000 shares of company stock worth $20,107,500. 14.16% of the stock is owned by corporate insiders.
KMI opened at $19.15 on Wednesday. The company has a market cap of $41.47 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.52 and a beta of 0.89. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 0.98. Kinder Morgan Inc has a twelve month low of $14.62 and a twelve month high of $19.22.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, January 16th. The pipeline company reported $0.25 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.25. The company had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Kinder Morgan had a return on equity of 5.86% and a net margin of 11.38%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, analysts anticipate that Kinder Morgan Inc will post 1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Thursday, January 31st were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, January 30th. This represents a $0.80 annualized dividend and a yield of 4.18%. Kinder Morgan’s payout ratio is 89.89%.
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About Kinder Morgan
Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada 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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