Oppenheimer Asset Management Inc. grew its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 12.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,410 shares of the pipeline company’s stock after purchasing an additional 6,264 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Kinder Morgan were worth $1,023,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in KMI. Freedom Wealth Alliance LLC purchased a new stake in Kinder Morgan in the fourth quarter worth $27,000. US Asset Management LLC bought a new position in shares of Kinder Morgan during the 4th quarter worth $33,000. Laffer Tengler Investments increased its holdings in Kinder Morgan by 103.5% in the 4th quarter. Laffer Tengler Investments now owns 1,966 shares of the pipeline company’s stock worth $36,000 after acquiring an additional 1,000 shares during the last quarter. Hollencrest Capital Management bought a new stake in Kinder Morgan in the 4th quarter valued at about $44,000. Finally, Certified Advisory Corp purchased a new stake in Kinder Morgan during the first quarter valued at about $49,000. 61.03% of the stock is currently owned by institutional investors.
In other Kinder Morgan news, VP John W. Schlosser sold 7,500 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $18.00, for a total value of $135,000.00. Following the completion of the sale, the vice president now directly owns 12,219 shares in the company, valued at $219,942. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Kinder Morgan news, VP Sital K. Mody sold 55,849 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $17.36, for a total value of $969,538.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John W. Schlosser sold 7,500 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $18.00, for a total transaction of $135,000.00. Following the sale, the vice president now owns 12,219 shares in the company, valued at approximately $219,942. The disclosure for this sale can be found here. Insiders own 12.64% of the company’s stock.
Kinder Morgan Price Performance
Kinder Morgan (NYSE:KMI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $4.55 billion. Kinder Morgan had a return on equity of 7.79% and a net margin of 14.65%. Kinder Morgan’s revenue was down 32.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.27 EPS. Analysts forecast that Kinder Morgan, Inc. will post 1.1 EPS for the current year.
Kinder Morgan Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st were issued a $0.2825 dividend. The ex-dividend date was Friday, July 28th. This represents a $1.13 annualized dividend and a yield of 6.52%. Kinder Morgan’s dividend payout ratio (DPR) is presently 101.80%.
Analyst Ratings Changes
Several brokerages have commented on KMI. Royal Bank of Canada restated a “sector perform” rating and issued a $20.00 target price on shares of Kinder Morgan in a research note on Thursday, July 20th. Stifel Nicolaus upped their target price on shares of Kinder Morgan from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Tuesday, August 1st. StockNews.com began coverage on shares of Kinder Morgan in a research report on Thursday, August 17th. They set a “hold” rating for the company. Barclays lowered their price objective on Kinder Morgan from $20.00 to $19.00 in a research report on Tuesday, July 18th. Finally, Wolfe Research raised Kinder Morgan from an “underperform” rating to a “peer perform” rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.10.
Kinder Morgan Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and underground storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.
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