Investors Buy Kinder Morgan (KMI) on Weakness
Traders bought shares of Kinder Morgan Inc (NYSE:KMI) on weakness during trading on Friday. $248.03 million flowed into the stock on the tick-up and $74.62 million flowed out of the stock on the tick-down, for a money net flow of $173.41 million into the stock. Of all stocks tracked, Kinder Morgan had the 13th highest net in-flow for the day. Kinder Morgan traded down ($0.11) for the day and closed at $19.87
KMI has been the subject of several research analyst reports. Mizuho initiated coverage on Kinder Morgan in a research note on Wednesday, November 28th. They set a “buy” rating and a $22.00 target price for the company. Wolfe Research downgraded Kinder Morgan from a “market perform” rating to an “underperform” rating in a research note on Monday, November 26th. TheStreet upgraded Kinder Morgan from a “c” rating to a “b-” rating in a research note on Wednesday, January 16th. Evercore ISI initiated coverage on Kinder Morgan in a research note on Tuesday, February 5th. They set an “outperform” rating for the company. Finally, Jefferies Financial Group upgraded Kinder Morgan from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. One analyst has rated the stock with a sell rating, one has given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Kinder Morgan has an average rating of “Buy” and an average target price of $20.87.
The firm has a market capitalization of $43.83 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 2.65 and a beta of 0.96. The company has a quick ratio of 0.71, a current ratio of 0.76 and a debt-to-equity ratio of 0.98.
The company also recently declared 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 was Wednesday, January 30th. This represents a $0.80 annualized dividend and a yield of 4.03%. Kinder Morgan’s payout ratio is currently 89.89%.
In related news, Chairman Richard D. Kinder acquired 200,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The stock was purchased at an average cost of $18.39 per share, with a total value of $3,678,000.00. Following the acquisition, the chairman now directly owns 236,492,545 shares of the company’s stock, valued at $4,349,097,902.55. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Richard D. Kinder acquired 100,000 shares of the company’s stock in a transaction on Thursday, January 31st. The stock was bought at an average cost of $18.05 per share, with a total value of $1,805,000.00. Following the completion of the acquisition, the chairman now directly owns 235,427,613 shares in the company, valued at $4,249,468,414.65. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,521,612 shares of company stock valued at $47,637,339. 14.16% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. M&T Bank Corp raised its holdings in Kinder Morgan by 11.4% in the 4th quarter. M&T Bank Corp now owns 153,671 shares of the pipeline company’s stock valued at $2,363,000 after acquiring an additional 15,724 shares in the last quarter. First Manhattan Co. raised its holdings in Kinder Morgan by 14.1% in the 4th quarter. First Manhattan Co. now owns 142,412 shares of the pipeline company’s stock valued at $2,190,000 after acquiring an additional 17,574 shares in the last quarter. Prudential Financial Inc. raised its holdings in Kinder Morgan by 4.2% in the 3rd quarter. Prudential Financial Inc. now owns 2,388,206 shares of the pipeline company’s stock valued at $42,343,000 after acquiring an additional 95,410 shares in the last quarter. Wesbanco Bank Inc. raised its holdings in Kinder Morgan by 12.6% in the 3rd quarter. Wesbanco Bank Inc. now owns 36,495 shares of the pipeline company’s stock valued at $647,000 after acquiring an additional 4,077 shares in the last quarter. Finally, Old Port Advisors acquired a new position in Kinder Morgan in the 4th quarter valued at $426,000. 63.89% of the stock is owned by hedge funds and other institutional investors.
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Kinder Morgan Company Profile (NYSE:KMI)
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 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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