Bank of New York Mellon Corp Cuts Stake in Kinder Morgan Inc (KMI)

Bank of New York Mellon Corp lessened its position in shares of Kinder Morgan Inc (NYSE:KMI) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,332,704 shares of the pipeline company’s stock after selling 311,267 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.70% of Kinder Morgan worth $270,928,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in KMI. Tortoise Capital Advisors L.L.C. raised its stake in shares of Kinder Morgan by 13.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 18,255,609 shares of the pipeline company’s stock worth $322,577,000 after buying an additional 2,186,054 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Kinder Morgan during the 2nd quarter worth $34,301,000. Millennium Management LLC raised its stake in shares of Kinder Morgan by 81.4% during the 2nd quarter. Millennium Management LLC now owns 3,673,782 shares of the pipeline company’s stock worth $64,916,000 after buying an additional 1,648,737 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Kinder Morgan by 1,177.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,488,729 shares of the pipeline company’s stock worth $26,306,000 after buying an additional 1,372,163 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Kinder Morgan during the 2nd quarter worth $24,035,000. 60.43% of the stock is owned by institutional investors and hedge funds.

In other news, insider Richard D. Kinder bought 500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The stock was purchased at an average price of $17.55 per share, with a total value of $8,775,000.00. Following the purchase, the insider now owns 235,212,353 shares of the company’s stock, valued at approximately $4,127,976,795.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.16% of the company’s stock.

Shares of KMI stock opened at $17.02 on Thursday. Kinder Morgan Inc has a twelve month low of $14.69 and a twelve month high of $19.83. The stock has a market capitalization of $36.60 billion, a P/E ratio of 25.79, a PEG ratio of 2.23 and a beta of 0.73. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.05 and a quick ratio of 0.98.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. Kinder Morgan had a net margin of 0.78% and a return on equity of 5.51%. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the company posted $0.15 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts expect that Kinder Morgan Inc will post 0.87 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Wednesday, October 31st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Tuesday, October 30th. Kinder Morgan’s payout ratio is 121.21%.

Several research firms have recently issued reports on KMI. Goldman Sachs Group began coverage on Kinder Morgan in a research note on Monday, October 8th. They set a “conviction-buy” rating and a $24.00 price target for the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Kinder Morgan in a research note on Thursday, July 19th. JPMorgan Chase & Co. lifted their price target on Kinder Morgan from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Credit Suisse Group began coverage on Kinder Morgan in a research note on Thursday, October 11th. They set an “outperform” rating and a $23.00 price target for the company. Finally, Citigroup cut their price target on Kinder Morgan from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Kinder Morgan presently has a consensus rating of “Buy” and an average price target of $20.73.

Kinder Morgan Profile

Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada 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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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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