ProVise Management Group LLC Lowers Holdings in Kinder Morgan, Inc. (KMI)
ProVise Management Group LLC cut its position in Kinder Morgan, Inc. (NYSE:KMI) by 30.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,938 shares of the pipeline company’s stock after selling 7,699 shares during the quarter. ProVise Management Group LLC’s holdings in Kinder Morgan were worth $344,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of KMI. Commonwealth Bank of Australia raised its stake 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 valued at $378,101,000 after buying an additional 6,205,165 shares during the period. Renaissance Technologies LLC raised its stake 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 valued at $157,311,000 after buying an additional 4,694,441 shares during the period. Eagle Global Advisors LLC raised its stake 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 valued at $124,305,000 after buying an additional 2,295,410 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Kinder Morgan by 22.9% in the second quarter. Dimensional Fund Advisors LP now owns 11,901,548 shares of the pipeline company’s stock valued at $228,029,000 after buying an additional 2,217,905 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Kinder Morgan by 29.1% in the second quarter. Russell Investments Group Ltd. now owns 9,683,478 shares of the pipeline company’s stock valued at $185,495,000 after buying an additional 2,182,985 shares during the period. Hedge funds and other institutional investors own 59.79% of the company’s stock.
Kinder Morgan, Inc. (KMI) traded up $0.27 on Wednesday, hitting $17.14. The stock had a trading volume of 3,434,200 shares, compared to its average volume of 11,369,259. Kinder Morgan, Inc. has a 1 year low of $16.70 and a 1 year high of $23.01. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.35. The stock has a market cap of $38,099.07, a PE ratio of 26.25, a P/E/G ratio of 1.32 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. Kinder Morgan had a return on equity of 4.33% and a net margin of 10.39%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the prior year, the business earned ($0.10) EPS. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. research analysts expect that Kinder Morgan, Inc. will post 0.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Tuesday, October 31st were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Monday, October 30th. Kinder Morgan’s payout ratio is currently 89.29%.
KMI has been the topic of several research reports. Goldman Sachs Group, Inc. (The) lowered Kinder Morgan from a “buy” rating to a “neutral” rating and boosted their target price for the company from $18.81 to $22.00 in a research note on Tuesday, October 17th. Morgan Stanley restated an “overweight” rating on shares of Kinder Morgan in a research note on Tuesday, September 5th. Zacks Investment Research upgraded Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Stifel Nicolaus lowered their target price on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, October 24th. Finally, BMO Capital Markets restated a “buy” rating and issued a $26.00 target price on shares of Kinder Morgan in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.97.
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Kinder Morgan 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.
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