California State Teachers Retirement System cut its holdings in Kinder Morgan, Inc. (NYSE:KMI – Get Rating) by 0.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,538,256 shares of the pipeline company’s stock after selling 29,296 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Kinder Morgan worth $58,877,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the business. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Kinder Morgan during the 3rd quarter worth approximately $26,000. EdgeRock Capital LLC acquired a new stake in Kinder Morgan during the third quarter worth approximately $29,000. TD Capital Management LLC acquired a new position in Kinder Morgan in the 3rd quarter valued at $33,000. Clearstead Advisors LLC lifted its position in shares of Kinder Morgan by 40.7% during the 2nd quarter. Clearstead Advisors LLC now owns 2,054 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 594 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Kinder Morgan by 109.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,155 shares of the pipeline company’s stock worth $36,000 after purchasing an additional 1,125 shares in the last quarter. 60.48% of the stock is owned by institutional investors.
Analysts Set New Price Targets
KMI has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Kinder Morgan from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Monday, January 9th. Sanford C. Bernstein upgraded shares of Kinder Morgan from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $19.00 to $22.00 in a research report on Wednesday, March 1st. StockNews.com started coverage on shares of Kinder Morgan in a research report on Thursday. They set a “hold” rating for the company. Scotiabank started coverage on Kinder Morgan in a report on Thursday, March 2nd. They issued a “sector perform” rating and a $20.00 target price on the stock. Finally, Barclays boosted their price target on Kinder Morgan from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.55.
Kinder Morgan Price Performance
Kinder Morgan (NYSE:KMI – Get Rating) last issued its quarterly earnings data on Wednesday, January 18th. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. Kinder Morgan had a net margin of 13.27% and a return on equity of 8.26%. The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the business earned $0.27 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. Analysts expect that Kinder Morgan, Inc. will post 1.1 EPS for the current year.
Kinder Morgan declared that its board has authorized a stock buyback program on Wednesday, January 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the pipeline company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Kinder Morgan Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Tuesday, January 31st were issued a $0.2775 dividend. The ex-dividend date of this dividend was Monday, January 30th. This represents a $1.11 dividend on an annualized basis and a yield of 6.71%. Kinder Morgan’s payout ratio is 99.11%.
Insider Buying and Selling
In other news, VP Anthony B. Ashley sold 13,232 shares of the stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $18.14, for a total value of $240,028.48. Following the completion of the sale, the vice president now owns 27,826 shares of the company’s stock, valued at $504,763.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP John W. Schlosser sold 1,500 shares of the company’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $18.18, for a total value of $27,270.00. Following the sale, the vice president now directly owns 21,219 shares of the company’s stock, valued at approximately $385,761.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Anthony B. Ashley sold 13,232 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $18.14, for a total transaction of $240,028.48. Following the sale, the vice president now owns 27,826 shares of the company’s stock, valued at $504,763.64. The disclosure for this sale can be found here. Insiders sold a total of 16,232 shares of company stock valued at $294,958 in the last three months. Insiders own 12.51% of the company’s stock.
Kinder Morgan Company Profile
Kinder Morgan, Inc engages in providing pipeline transportation of natural gas services. It operates through the following business segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment operates major interstate and intrastate natural gas pipelines and storage systems.
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