Toronto Dominion Bank raised its stake in Kinder Morgan, Inc. (NYSE:KMI) by 12.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 732,033 shares of the pipeline company’s stock after acquiring an additional 80,549 shares during the period. Toronto Dominion Bank’s holdings in Kinder Morgan were worth $14,038,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Harbour Investment Management & Counsel LLC grew its stake in shares of Kinder Morgan by 0.3% in the second quarter. Private Harbour Investment Management & Counsel LLC now owns 15,050 shares of the pipeline company’s stock worth $288,000 after acquiring an additional 50 shares during the last quarter. North Star Asset Management Inc. grew its stake in shares of Kinder Morgan by 0.6% in the second quarter. North Star Asset Management Inc. now owns 10,029 shares of the pipeline company’s stock worth $192,000 after acquiring an additional 61 shares during the last quarter. CNH Partners LLC grew its stake in shares of Kinder Morgan by 0.4% in the second quarter. CNH Partners LLC now owns 27,467 shares of the pipeline company’s stock worth $526,000 after acquiring an additional 100 shares during the last quarter. Merriman Wealth Management LLC grew its stake in shares of Kinder Morgan by 0.4% in the second quarter. Merriman Wealth Management LLC now owns 59,481 shares of the pipeline company’s stock worth $1,140,000 after acquiring an additional 239 shares during the last quarter. Finally, Fernwood Investment Management LLC grew its stake in shares of Kinder Morgan by 1.6% in the second quarter. Fernwood Investment Management LLC now owns 19,999 shares of the pipeline company’s stock worth $383,000 after acquiring an additional 319 shares during the last quarter. 59.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Kinder Morgan, Inc. (NYSE KMI) traded down $0.21 during trading hours on Tuesday, reaching $17.46. The company’s stock had a trading volume of 9,465,100 shares, compared to its average volume of 11,305,941. The stock has a market capitalization of $39,461.35, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.37 and a beta of 0.65. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.42 and a quick ratio of 0.35. Kinder Morgan, Inc. has a fifty-two week low of $17.41 and a fifty-two week high of $23.01.
Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, October 18th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Kinder Morgan had a return on equity of 4.33% and a net margin of 10.39%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm posted ($0.10) earnings per share. equities analysts forecast that Kinder Morgan, Inc. will post 0.64 earnings per share for the current year.
Kinder Morgan declared that its Board of Directors has initiated a stock repurchase program on Wednesday, July 19th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the pipeline company to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Tuesday, October 31st will be given a $0.125 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.50 annualized dividend and a yield of 2.86%. Kinder Morgan’s payout ratio is 89.29%.
A number of research firms have recently commented on KMI. Stifel Nicolaus cut their target price on Kinder Morgan from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, October 24th. Mizuho reissued a “hold” rating and issued a $22.00 target price on shares of Kinder Morgan in a research note on Friday, October 20th. SunTrust Banks, Inc. set a $23.00 target price on Kinder Morgan and gave the stock a “buy” rating in a research note on Thursday, October 19th. Citigroup Inc. cut their target price on Kinder Morgan from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 17th. Finally, Zacks Investment Research cut Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.03.
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Kinder Morgan Company Profile
Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.
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