Commerce Bank grew its stake in Kinder Morgan, Inc. (NYSE:KMI) by 20.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,732 shares of the pipeline company’s stock after purchasing an additional 15,163 shares during the quarter. Commerce Bank’s holdings in Kinder Morgan were worth $1,106,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Kinder Morgan by 0.4% during the 3rd quarter. BlackRock Inc. now owns 151,634,108 shares of the pipeline company’s stock valued at $1,869,647,000 after buying an additional 642,630 shares during the last quarter. Blackstone Group Inc bought a new stake in shares of Kinder Morgan during the 2nd quarter valued at about $333,656,000. Bank of New York Mellon Corp grew its position in shares of Kinder Morgan by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,415,578 shares of the pipeline company’s stock valued at $264,196,000 after buying an additional 277,512 shares during the last quarter. Abrams Capital Management L.P. grew its position in shares of Kinder Morgan by 27.2% during the 2nd quarter. Abrams Capital Management L.P. now owns 12,476,200 shares of the pipeline company’s stock valued at $189,264,000 after buying an additional 2,669,942 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Kinder Morgan by 17.2% during the 2nd quarter. Prudential Financial Inc. now owns 8,691,685 shares of the pipeline company’s stock valued at $131,853,000 after buying an additional 1,272,676 shares during the last quarter. 60.63% of the stock is owned by institutional investors and hedge funds.
In related news, Director William A. Smith purchased 7,000 shares of the stock in a transaction dated Monday, August 31st. The stock was bought at an average cost of $13.96 per share, with a total value of $97,720.00. Following the purchase, the director now directly owns 28,087 shares in the company, valued at approximately $392,094.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 14.19% of the company’s stock.
KMI opened at $13.76 on Thursday. The stock has a 50-day moving average of $12.53 and a 200-day moving average of $14.07. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.54 and a current ratio of 0.61. The company has a market cap of $31.15 billion, a PE ratio of 275.20, a price-to-earnings-growth ratio of 4.57 and a beta of 0.99. Kinder Morgan, Inc. has a 52-week low of $9.42 and a 52-week high of $22.58.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 21st. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. Kinder Morgan had a net margin of 1.02% and a return on equity of 6.07%. On average, research analysts predict that Kinder Morgan, Inc. will post 0.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 16th. Stockholders of record on Monday, November 2nd were paid a $0.2625 dividend. The ex-dividend date was Friday, October 30th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 7.63%. Kinder Morgan’s dividend payout ratio (DPR) is presently 110.53%.
A number of brokerages recently weighed in on KMI. Piper Sandler lowered their price objective on shares of Kinder Morgan from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. Stifel Nicolaus decreased their target price on shares of Kinder Morgan from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Morgan Stanley decreased their target price on shares of Kinder Morgan from $17.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 25th. ValuEngine cut shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Wednesday, September 16th. Finally, Capital One Financial initiated coverage on shares of Kinder Morgan in a research report on Wednesday, October 21st. They issued an “equal weight” rating for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Kinder Morgan currently has an average rating of “Buy” and an average price target of $17.53.
About Kinder Morgan
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and 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 liquefaction and storage facilities.
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