Commonwealth Bank of Australia lessened its holdings in Kinder Morgan Inc (NYSE:KMI) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,253,574 shares of the pipeline company’s stock after selling 1,216,332 shares during the quarter. Kinder Morgan accounts for approximately 3.6% of Commonwealth Bank of Australia’s holdings, making the stock its 2nd biggest holding. Commonwealth Bank of Australia owned approximately 0.96% of Kinder Morgan worth $376,570,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Twin Capital Management Inc. grew its holdings in Kinder Morgan by 15.3% during the 3rd quarter. Twin Capital Management Inc. now owns 194,683 shares of the pipeline company’s stock worth $3,451,000 after acquiring an additional 25,820 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in Kinder Morgan by 5.6% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 12,232,929 shares of the pipeline company’s stock worth $216,877,000 after acquiring an additional 650,164 shares during the last quarter. MML Investors Services LLC grew its holdings in Kinder Morgan by 74.4% during the 3rd quarter. MML Investors Services LLC now owns 70,150 shares of the pipeline company’s stock worth $1,244,000 after acquiring an additional 29,916 shares during the last quarter. Prudential Financial Inc. lifted its position in Kinder Morgan by 4.2% during the 3rd quarter. Prudential Financial Inc. now owns 2,388,206 shares of the pipeline company’s stock valued at $42,343,000 after purchasing an additional 95,410 shares during the period. Finally, Highstreet Asset Management Inc. acquired a new position in Kinder Morgan during the 3rd quarter valued at about $3,740,000. 60.65% of the stock is currently owned by hedge funds and other institutional investors.
KMI has been the topic of a number of research reports. Credit Suisse Group initiated coverage on shares of Kinder Morgan in a research report on Thursday, October 11th. They set an “outperform” rating and a $23.00 target price on the stock. Goldman Sachs Group initiated coverage on shares of Kinder Morgan in a research report on Monday, October 8th. They set a “conviction-buy” rating and a $24.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Kinder Morgan from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. ValuEngine upgraded shares of Kinder Morgan from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Finally, Barclays set a $21.00 price target on shares of Kinder Morgan and gave the company a “buy” rating in a research report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $20.73.
Shares of Kinder Morgan stock opened at $17.18 on Wednesday. Kinder Morgan Inc has a 1 year low of $14.69 and a 1 year high of $19.83. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.05 and a quick ratio of 0.98. The firm has a market cap of $38.54 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 2.36 and a beta of 0.69.
Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, October 17th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.21. Kinder Morgan had a return on equity of 5.51% and a net margin of 0.78%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts forecast that Kinder Morgan Inc will post 0.87 EPS for the current fiscal year.
The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend is Tuesday, October 30th. Kinder Morgan’s dividend payout ratio is currently 121.21%.
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About Kinder Morgan
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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