Blume Capital Management Inc. Buys 3,100 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Blume Capital Management Inc. raised its stake in Kinder Morgan, Inc. (NYSE:KMI) by 3.9% during the second quarter, HoldingsChannel.com reports. The fund owned 82,125 shares of the pipeline company’s stock after purchasing an additional 3,100 shares during the quarter. Blume Capital Management Inc.’s holdings in Kinder Morgan were worth $1,497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMI. FMR LLC increased its holdings in shares of Kinder Morgan by 12.0% in the 1st quarter. FMR LLC now owns 1,037,820 shares of the pipeline company’s stock worth $20,767,000 after buying an additional 111,096 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Kinder Morgan by 10.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,570,906 shares of the pipeline company’s stock worth $26,156,000 after buying an additional 148,167 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Kinder Morgan by 11.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 505,121 shares of the pipeline company’s stock worth $8,410,000 after buying an additional 52,841 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Kinder Morgan by 26.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,960,381 shares of the pipeline company’s stock worth $32,640,000 after buying an additional 411,952 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Kinder Morgan by 73.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 65,303 shares of the pipeline company’s stock worth $1,087,000 after buying an additional 27,603 shares during the last quarter. Institutional investors own 59.33% of the company’s stock.

Kinder Morgan stock traded up $0.38 during mid-day trading on Wednesday, reaching $16.39. 337,345 shares of the company traded hands, compared to its average volume of 15,111,585. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.85 and a quick ratio of 0.77. Kinder Morgan, Inc. has a fifty-two week low of $11.45 and a fifty-two week high of $19.29. The company has a market capitalization of $37.15 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 4.09 and a beta of 1.12. The firm’s fifty day moving average is $17.03 and its two-hundred day moving average is $17.27.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Tuesday, July 20th. The pipeline company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. Kinder Morgan had a net margin of 11.91% and a return on equity of 9.34%. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the business posted $0.17 EPS. Kinder Morgan’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, equities research analysts predict that Kinder Morgan, Inc. will post 1.3 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Monday, August 2nd were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $1.08 dividend on an annualized basis and a yield of 6.59%. Kinder Morgan’s payout ratio is 122.73%.

KMI has been the topic of a number of research reports. TD Securities boosted their target price on shares of Kinder Morgan from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, June 3rd. The Goldman Sachs Group cut shares of Kinder Morgan from a “neutral” rating to a “sell” rating in a research note on Sunday, June 13th. Stifel Nicolaus cut shares of Kinder Morgan from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research note on Tuesday, June 15th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of Kinder Morgan in a research note on Wednesday, May 19th. Finally, Morgan Stanley cut shares of Kinder Morgan from an “equal weight” rating to an “underweight” rating and set a $18.00 price target for the company. in a research note on Wednesday, May 26th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.93.

In other news, VP John W. Schlosser sold 1,500 shares of the stock in a transaction on Friday, June 25th. The shares were sold at an average price of $18.23, for a total value of $27,345.00. Following the sale, the vice president now owns 42,219 shares in the company, valued at $769,652.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas A. Martin sold 66,607 shares of the stock in a transaction on Friday, August 6th. The stock was sold at an average price of $17.08, for a total transaction of $1,137,647.56. The disclosure for this sale can be found here. Corporate insiders own 14.22% of the company’s stock.

About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company. The firm engages in the operation of pipelines and terminals that transport natural gas, gasoline, crude oil, carbon dioxide (CO2) and other products and stores petroleum products chemicals and handles bulk materials like ethanol, coal, petroleum coke and steel.

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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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