Lathrop Investment Management Corp Trims Stock Holdings in Kinder Morgan Inc (NYSE:KMI)
Lathrop Investment Management Corp decreased its stake in Kinder Morgan Inc (NYSE:KMI) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 572,006 shares of the pipeline company’s stock after selling 9,399 shares during the quarter. Kinder Morgan makes up 2.6% of Lathrop Investment Management Corp’s portfolio, making the stock its 18th biggest holding. Lathrop Investment Management Corp’s holdings in Kinder Morgan were worth $8,677,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC grew its position in shares of Kinder Morgan by 4.8% in the first quarter. Fieldpoint Private Securities LLC now owns 15,028 shares of the pipeline company’s stock valued at $209,000 after purchasing an additional 687 shares in the last quarter. Old Port Advisors grew its holdings in shares of Kinder Morgan by 3.2% during the first quarter. Old Port Advisors now owns 22,549 shares of the pipeline company’s stock worth $314,000 after buying an additional 690 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Kinder Morgan by 4.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 17,630 shares of the pipeline company’s stock worth $245,000 after buying an additional 720 shares during the last quarter. IFG Advisors LLC lifted its position in Kinder Morgan by 4.5% in the first quarter. IFG Advisors LLC now owns 17,682 shares of the pipeline company’s stock valued at $246,000 after purchasing an additional 764 shares during the period. Finally, Advisors Management Group Inc. ADV lifted its position in shares of Kinder Morgan by 1.7% during the 1st quarter. Advisors Management Group Inc. ADV now owns 47,849 shares of the pipeline company’s stock valued at $666,000 after acquiring an additional 815 shares during the period. Hedge funds and other institutional investors own 61.44% of the company’s stock.
Shares of Kinder Morgan stock traded up $0.04 during trading on Friday, reaching $14.10. The company had a trading volume of 15,705,116 shares, compared to its average volume of 11,852,910. The company has a market cap of $31.89 billion, a price-to-earnings ratio of 201.46, a price-to-earnings-growth ratio of 5.50 and a beta of 1.04. The firm’s fifty day moving average is $14.88 and its 200-day moving average is $16.63. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.50 and a current ratio of 0.48. Kinder Morgan Inc has a fifty-two week low of $9.42 and a fifty-two week high of $22.58.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be given a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 7.45%. The ex-dividend date is Friday, July 31st. Kinder Morgan’s dividend payout ratio is presently 110.53%.
In other Kinder Morgan news, major shareholder Richard D. Kinder acquired 300,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was acquired at an average price of $14.14 per share, with a total value of $4,242,000.00. Following the transaction, the insider now directly owns 244,839,120 shares in the company, valued at $3,462,025,156.80. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 14.19% of the stock is owned by corporate insiders.
A number of research firms have recently issued reports on KMI. Raymond James reduced their price target on shares of Kinder Morgan from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Citigroup lowered their price objective on shares of Kinder Morgan from $21.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, May 20th. Piper Sandler lowered their price objective on shares of Kinder Morgan from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. SunTrust Banks restated a “buy” rating and set a $18.00 target price on shares of Kinder Morgan in a report on Thursday, April 23rd. Finally, Cfra reduced their target price on shares of Kinder Morgan from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $18.72.
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.
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