Bank Hapoalim BM Buys New Position in Kinder Morgan Inc (KMI)
Bank Hapoalim BM bought a new stake in shares of Kinder Morgan Inc (NYSE:KMI) during the first quarter, Holdings Channel reports. The fund bought 10,282 shares of the pipeline company’s stock, valued at approximately $206,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall Wace LLP raised its stake in shares of Kinder Morgan by 63.0% in the 3rd quarter. Marshall Wace LLP now owns 30,993 shares of the pipeline company’s stock worth $550,000 after buying an additional 11,978 shares in the last quarter. Vanguard Group Inc raised its position in shares of Kinder Morgan by 1.1% during the third quarter. Vanguard Group Inc now owns 146,125,762 shares of the pipeline company’s stock worth $2,590,809,000 after purchasing an additional 1,648,894 shares during the period. First Hawaiian Bank raised its position in shares of Kinder Morgan by 274.6% during the fourth quarter. First Hawaiian Bank now owns 34,524 shares of the pipeline company’s stock worth $531,000 after purchasing an additional 25,308 shares during the period. Sit Investment Associates Inc. raised its position in shares of Kinder Morgan by 14.2% during the fourth quarter. Sit Investment Associates Inc. now owns 12,850 shares of the pipeline company’s stock worth $198,000 after purchasing an additional 1,600 shares during the period. Finally, Ipswich Investment Management Co. Inc. acquired a new stake in shares of Kinder Morgan during the fourth quarter worth $99,000. 65.34% of the stock is currently owned by hedge funds and other institutional investors.
In other Kinder Morgan news, insider Richard D. Kinder purchased 400,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average price of $19.53 per share, for a total transaction of $7,812,000.00. Following the completion of the acquisition, the insider now owns 240,201,954 shares of the company’s stock, valued at approximately $4,691,144,161.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard D. Kinder purchased 200,000 shares of the stock in a transaction dated Friday, February 15th. The shares were acquired at an average price of $18.93 per share, for a total transaction of $3,786,000.00. Following the acquisition, the insider now directly owns 236,692,545 shares of the company’s stock, valued at approximately $4,480,589,876.85. The disclosure for this purchase can be found here. Insiders have bought 3,673,076 shares of company stock worth $71,594,383 in the last quarter. 13.95% of the stock is currently owned by corporate insiders.
Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. Kinder Morgan had a return on equity of 6.13% and a net margin of 11.59%. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. Kinder Morgan’s revenue for the quarter was up .3% compared to the same quarter last year. On average, equities research analysts anticipate that Kinder Morgan Inc will post 0.98 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were issued a dividend of $0.25 per share. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.97%. Kinder Morgan’s payout ratio is currently 112.36%.
A number of equities research analysts have recently issued reports on KMI shares. TheStreet raised Kinder Morgan from a “c” rating to a “b-” rating in a research report on Wednesday, January 16th. Argus reaffirmed a “buy” rating and set a $23.00 target price on shares of Kinder Morgan in a research report on Tuesday, January 22nd. Evercore ISI started coverage on Kinder Morgan in a research report on Tuesday, February 5th. They set an “outperform” rating on the stock. Raymond James lowered Kinder Morgan from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, April 16th. They noted that the move was a valuation call. Finally, Citigroup lowered Kinder Morgan from a “buy” rating to a “neutral” rating and set a $20.00 target price on the stock. in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. Kinder Morgan currently has an average rating of “Buy” and an average target price of $21.82.
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Kinder Morgan Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 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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