CIBC Private Wealth Group LLC Sells 827,869 Shares of Kinder Morgan Inc (KMI)
CIBC Private Wealth Group LLC trimmed its position in shares of Kinder Morgan Inc (NYSE:KMI) by 13.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,366,553 shares of the pipeline company’s stock after selling 827,869 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.24% of Kinder Morgan worth $82,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Avestar Capital LLC increased its position in shares of Kinder Morgan by 83.5% during the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 985 shares during the last quarter. Intercontinental Wealth Advisors LLC bought a new position in shares of Kinder Morgan during the 4th quarter valued at approximately $28,000. Cornerstone Advisors Inc. increased its position in shares of Kinder Morgan by 129.8% during the 4th quarter. Cornerstone Advisors Inc. now owns 1,896 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 1,071 shares during the last quarter. Bedel Financial Consulting Inc. increased its position in shares of Kinder Morgan by 573.6% during the 4th quarter. Bedel Financial Consulting Inc. now owns 1,987 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 1,692 shares during the last quarter. Finally, Spence Asset Management bought a new position in shares of Kinder Morgan during the 4th quarter valued at approximately $37,000. 61.17% of the stock is currently owned by institutional investors and hedge funds.
KMI opened at $18.02 on Monday. Kinder Morgan Inc has a 12-month low of $14.62 and a 12-month high of $18.67. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.98 and a current ratio of 0.76. The firm has a market cap of $39.75 billion, a PE ratio of 20.25, a PEG ratio of 2.41 and a beta of 0.89.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Thursday, January 31st will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Wednesday, January 30th. Kinder Morgan’s dividend payout ratio (DPR) is currently 89.89%.
Several equities analysts have recently weighed in on KMI shares. Zacks Investment Research raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, October 24th. Wolfe Research downgraded Kinder Morgan from a “market perform” rating to an “underperform” rating in a research report on Monday, November 26th. Mizuho started coverage on Kinder Morgan in a research report on Wednesday, November 28th. They set a “buy” rating and a $22.00 target price on the stock. Jefferies Financial Group raised Kinder Morgan from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Finally, TheStreet raised Kinder Morgan from a “c” rating to a “b-” rating in a research report on Wednesday, January 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Kinder Morgan has an average rating of “Buy” and a consensus price target of $21.08.
In related news, insider Richard D. Kinder acquired 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The stock was purchased at an average cost of $17.99 per share, for a total transaction of $7,196,000.00. Following the purchase, the insider now directly owns 236,177,613 shares of the company’s stock, valued at approximately $4,248,835,257.87. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard D. Kinder acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 29th. The shares were bought at an average price of $17.92 per share, with a total value of $896,000.00. Following the completion of the purchase, the insider now directly owns 235,262,353 shares in the company, valued at $4,215,901,365.76. The disclosure for this purchase can be found here. Insiders have purchased a total of 700,000 shares of company stock valued at $12,643,500 over the last 90 days. 14.16% of the stock is currently owned by company insiders.
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Kinder Morgan Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada 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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