Ironwood Investment Counsel LLC Sells 40,294 Shares of Kinder Morgan, Inc. (KMI)
Ironwood Investment Counsel LLC lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 61.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,398 shares of the pipeline company’s stock after selling 40,294 shares during the period. Ironwood Investment Counsel LLC’s holdings in Kinder Morgan were worth $487,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Heritage Trust Co lifted its position in shares of Kinder Morgan by 457.7% during the second quarter. Heritage Trust Co now owns 5,242 shares of the pipeline company’s stock worth $101,000 after acquiring an additional 4,302 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in shares of Kinder Morgan during the second quarter worth $115,000. Acrospire Investment Management LLC lifted its position in shares of Kinder Morgan by 30.7% during the second quarter. Acrospire Investment Management LLC now owns 6,814 shares of the pipeline company’s stock worth $131,000 after acquiring an additional 1,600 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Kinder Morgan by 14.0% during the second quarter. Parallel Advisors LLC now owns 6,673 shares of the pipeline company’s stock worth $136,000 after acquiring an additional 819 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in shares of Kinder Morgan by 10.3% during the second quarter. Trust Co. of Vermont now owns 7,197 shares of the pipeline company’s stock worth $138,000 after acquiring an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 59.09% of the company’s stock.
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Several research firms have issued reports on KMI. Stifel Nicolaus dropped their target price on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. Mizuho restated a “hold” rating and set a $22.00 target price on shares of Kinder Morgan in a research report on Friday, October 20th. SunTrust Banks, Inc. set a $23.00 target price on Kinder Morgan and gave the stock a “buy” rating in a research report on Thursday, October 19th. Citigroup Inc. dropped their target price on Kinder Morgan from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 17th. Finally, Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $23.03.
Kinder Morgan, Inc. (NYSE KMI) traded up 0.414% on Wednesday, reaching $18.185. The company had a trading volume of 4,383,418 shares. Kinder Morgan, Inc. has a 12-month low of $17.82 and a 12-month high of $23.01. The stock’s 50 day moving average price is $18.92 and its 200-day moving average price is $19.39. The stock has a market capitalization of $40.61 billion, a PE ratio of 60.016 and a beta of 0.65.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 18th. The pipeline company reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Kinder Morgan had a net margin of 10.39% and a return on equity of 4.33%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. Equities analysts expect that Kinder Morgan, Inc. will post $0.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.76%. The ex-dividend date is Monday, October 30th. Kinder Morgan’s payout ratio is currently 89.29%.
Kinder Morgan announced that its Board of Directors has approved a stock repurchase program on Wednesday, July 19th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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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