Kinder Morgan Inc (KMI) Shares Bought by Adell Harriman & Carpenter Inc.
Adell Harriman & Carpenter Inc. boosted its position in Kinder Morgan Inc (NYSE:KMI) by 11.7% in the 1st quarter, HoldingsChannel reports. The firm owned 146,700 shares of the pipeline company’s stock after buying an additional 15,397 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Kinder Morgan were worth $2,935,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KMI. Founders Capital Management increased its stake in Kinder Morgan by 224.9% in the 1st quarter. Founders Capital Management now owns 1,228 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 850 shares in the last quarter. Avestar Capital LLC increased its stake in Kinder Morgan by 83.5% in 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 in the last quarter. Intercontinental Wealth Advisors LLC purchased a new position in Kinder Morgan in the 4th quarter valued at approximately $28,000. Cornerstone Advisors Inc. increased its stake in Kinder Morgan by 129.8% in 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 in the last quarter. Finally, Financial Gravity Wealth Inc. purchased a new position in Kinder Morgan in the 1st quarter valued at approximately $30,000. 65.34% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently weighed in on KMI. TheStreet raised Kinder Morgan from a “c” rating to a “b-” rating in a research note on Wednesday, January 16th. JPMorgan Chase & Co. downgraded Kinder Morgan from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $21.00 to $22.00 in a research report on Friday, March 22nd. Zacks Investment Research downgraded Kinder Morgan from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Argus reissued a “buy” rating and set a $23.00 price target on shares of Kinder Morgan in a research report on Tuesday, January 22nd. Finally, Goldman Sachs Group downgraded Kinder Morgan from a “conviction-buy” rating to a “buy” rating and set a $23.00 price target for the company. in a research report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $21.82.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.63 billion. Kinder Morgan had a return on equity of 6.13% and a net margin of 11.59%. Kinder Morgan’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 earnings per share. On average, research analysts anticipate that Kinder Morgan Inc will post 0.98 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a $0.25 dividend. 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%. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.20. Kinder Morgan’s payout ratio is currently 112.36%.
In other Kinder Morgan news, insider Richard D. Kinder acquired 300,000 shares of the stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $19.53 per share, with a total value of $5,859,000.00. Following the completion of the transaction, the insider now directly owns 240,879,496 shares in the company, valued at $4,704,376,556.88. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Deborah Macdonald acquired 2,500 shares of the stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average cost of $19.89 per share, with a total value of $49,725.00. Following the transaction, the director now owns 25,328 shares of the company’s stock, valued at $503,773.92. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,673,076 shares of company stock valued at $71,594,383. Company insiders own 13.95% of the company’s stock.
About Kinder Morgan
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.
Featured Article: Growth Stocks, What They Are, What They Are Not
Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan Inc (NYSE:KMI).
Receive News & Ratings for Kinder Morgan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinder Morgan and related companies with MarketBeat.com's FREE daily email newsletter.