Empower Advisory Group LLC purchased a new position in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,477,808 shares of the pipeline company’s stock, valued at approximately $61,418,000. Empower Advisory Group LLC owned about 0.16% of Kinder Morgan as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. CHICAGO TRUST Co NA boosted its holdings in shares of Kinder Morgan by 4.5% during the 1st quarter. CHICAGO TRUST Co NA now owns 13,066 shares of the pipeline company’s stock worth $229,000 after buying an additional 559 shares during the period. RDA Financial Network increased its stake in shares of Kinder Morgan by 1.7% in the first quarter. RDA Financial Network now owns 34,263 shares of the pipeline company’s stock worth $600,000 after purchasing an additional 572 shares during the period. Atlas Brown Inc. lifted its position in shares of Kinder Morgan by 4.8% during the 1st quarter. Atlas Brown Inc. now owns 12,837 shares of the pipeline company’s stock worth $225,000 after purchasing an additional 593 shares during the last quarter. Shelton Capital Management grew its holdings in Kinder Morgan by 4.7% in the 1st quarter. Shelton Capital Management now owns 13,315 shares of the pipeline company’s stock valued at $233,000 after buying an additional 599 shares during the last quarter. Finally, Fortitude Advisory Group L.L.C. increased its position in Kinder Morgan by 6.1% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 10,893 shares of the pipeline company’s stock worth $191,000 after buying an additional 624 shares during the period. Institutional investors and hedge funds own 62.33% of the company’s stock.
Insider Transactions at Kinder Morgan
In other Kinder Morgan news, VP Sital K. Mody sold 55,849 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $17.36, for a total value of $969,538.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP John W. Schlosser sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $18.00, for a total transaction of $135,000.00. Following the completion of the sale, the vice president now owns 12,219 shares in the company, valued at $219,942. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Sital K. Mody sold 55,849 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $17.36, for a total value of $969,538.64. The disclosure for this sale can be found here. 12.64% of the stock is owned by insiders.
Kinder Morgan Trading Up 0.2 %
Kinder Morgan (NYSE:KMI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 19th. The pipeline company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. Kinder Morgan had a net margin of 14.65% and a return on equity of 7.79%. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $4.55 billion. The business’s revenue was down 32.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Equities research analysts anticipate that Kinder Morgan, Inc. will post 1.1 earnings per share for the current fiscal year.
Kinder Morgan Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a $0.2825 dividend. The ex-dividend date of this dividend was Friday, July 28th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 6.59%. Kinder Morgan’s dividend payout ratio (DPR) is 101.80%.
Analysts Set New Price Targets
KMI has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $20.00 target price on shares of Kinder Morgan in a research note on Thursday, July 20th. Barclays decreased their target price on Kinder Morgan from $20.00 to $19.00 in a research report on Tuesday, July 18th. Wolfe Research upgraded Kinder Morgan from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, July 12th. StockNews.com initiated coverage on Kinder Morgan in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Stifel Nicolaus lifted their price target on shares of Kinder Morgan from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.22.
Kinder Morgan Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and underground storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.
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