Huntington Steele LLC Lowers Stake in Kinder Morgan Inc (KMI)
Huntington Steele LLC cut its stake in shares of Kinder Morgan Inc (NYSE:KMI) by 62.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,516 shares of the pipeline company’s stock after selling 25,617 shares during the period. Huntington Steele LLC’s holdings in Kinder Morgan were worth $280,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Kinder Morgan by 17.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 13,950,108 shares of the pipeline company’s stock valued at $267,575,000 after buying an additional 2,048,560 shares during the period. Tortoise Capital Advisors L.L.C. grew its stake in shares of Kinder Morgan by 11.0% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 13,908,625 shares of the pipeline company’s stock valued at $266,767,000 after buying an additional 1,373,610 shares during the period. Legal & General Group Plc grew its stake in shares of Kinder Morgan by 6.0% during the 3rd quarter. Legal & General Group Plc now owns 11,314,018 shares of the pipeline company’s stock valued at $217,014,000 after buying an additional 636,683 shares during the period. Brookfield Asset Management Inc. grew its stake in shares of Kinder Morgan by 4.3% during the 2nd quarter. Brookfield Asset Management Inc. now owns 10,843,859 shares of the pipeline company’s stock valued at $207,769,000 after buying an additional 447,389 shares during the period. Finally, Cohen & Steers Inc. grew its stake in shares of Kinder Morgan by 22.7% during the 3rd quarter. Cohen & Steers Inc. now owns 9,743,540 shares of the pipeline company’s stock valued at $186,881,000 after buying an additional 1,801,348 shares during the period. 60.72% of the stock is owned by institutional investors.
In other news, VP Thomas A. Martin acquired 3,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were purchased at an average price of $17.10 per share, for a total transaction of $51,300.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William A. Smith acquired 5,500 shares of the business’s stock in a transaction on Monday, January 22nd. The stock was purchased at an average price of $19.52 per share, for a total transaction of $107,360.00. Following the acquisition, the director now directly owns 14,587 shares in the company, valued at $284,738.24. The disclosure for this purchase can be found here. Insiders own 13.99% of the company’s stock.
Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, January 17th. The pipeline company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.52 billion. Kinder Morgan had a net margin of 1.34% and a return on equity of 4.38%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. equities research analysts forecast that Kinder Morgan Inc will post 0.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.50 annualized dividend and a dividend yield of 2.55%. Kinder Morgan’s payout ratio is 5,000.00%.
KMI has been the subject of several research reports. Royal Bank of Canada reissued a “hold” rating and set a $22.00 price objective on shares of Kinder Morgan in a research note on Wednesday, November 15th. Credit Suisse Group initiated coverage on shares of Kinder Morgan in a research note on Thursday, January 4th. They set an “outperform” rating and a $23.00 price objective for the company. Zacks Investment Research cut shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Morgan Stanley lowered their price objective on shares of Kinder Morgan from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, November 17th. Finally, Wells Fargo & Co reissued a “market perform” rating on shares of Kinder Morgan in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $22.72.
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About Kinder Morgan
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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