Kinder Morgan, Inc. (KMI) Holdings Lessened by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board reduced its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 9.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,659,110 shares of the pipeline company’s stock after selling 174,079 shares during the quarter. Canada Pension Plan Investment Board owned 0.07% of Kinder Morgan worth $31,822,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in KMI. Vanguard Group Inc. increased its holdings in shares of Kinder Morgan by 4.7% in the first quarter. Vanguard Group Inc. now owns 138,904,165 shares of the pipeline company’s stock worth $3,019,777,000 after acquiring an additional 6,222,962 shares in the last quarter. Commonwealth Bank of Australia increased its holdings in shares of Kinder Morgan by 45.9% in the second quarter. Commonwealth Bank of Australia now owns 19,733,993 shares of the pipeline company’s stock worth $378,101,000 after acquiring an additional 6,205,165 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Kinder Morgan by 133.5% in the second quarter. Renaissance Technologies LLC now owns 8,210,372 shares of the pipeline company’s stock worth $157,311,000 after acquiring an additional 4,694,441 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Kinder Morgan by 56.2% in the first quarter. Dimensional Fund Advisors LP now owns 9,683,643 shares of the pipeline company’s stock worth $210,507,000 after acquiring an additional 3,483,039 shares in the last quarter. Finally, Eagle Global Advisors LLC increased its holdings in shares of Kinder Morgan by 54.8% in the second quarter. Eagle Global Advisors LLC now owns 6,487,737 shares of the pipeline company’s stock worth $124,305,000 after acquiring an additional 2,295,410 shares in the last quarter. Institutional investors own 59.13% of the company’s stock.
A number of research firms recently issued reports on KMI. Stifel Nicolaus decreased their price objective on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, October 24th. Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Mizuho reiterated a “hold” rating and set a $22.00 price objective on shares of Kinder Morgan in a report on Friday, October 20th. SunTrust Banks, Inc. set a $23.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Goldman Sachs Group, Inc. (The) downgraded Kinder Morgan from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $18.81 to $22.00 in a report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.03.
Shares of Kinder Morgan, Inc. (NYSE KMI) opened at $17.74 on Monday. Kinder Morgan, Inc. has a 52-week low of $17.59 and a 52-week high of $23.01. The stock has a market capitalization of $39,617.68, a P/E ratio of 27.29, a PEG ratio of 1.38 and a beta of 0.65. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.35.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. Kinder Morgan had a return on equity of 4.33% and a net margin of 10.39%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period last year, the firm posted ($0.10) earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. sell-side analysts anticipate that Kinder Morgan, Inc. will post 0.64 EPS for the current year.
Kinder Morgan announced that its board has initiated a share buyback plan on Wednesday, July 19th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the pipeline company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st will be given a $0.125 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.82%. Kinder Morgan’s payout ratio is 89.29%.
Kinder Morgan Company Profile
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
Receive News & Ratings for Kinder Morgan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinder Morgan Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.