Glassy Mountain Advisors Inc. bought a new position in Kinder Morgan, Inc. (NYSE:KMI – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,622 shares of the pipeline company’s stock, valued at approximately $301,000.
A number of other institutional investors also recently modified their holdings of KMI. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Kinder Morgan in the third quarter worth about $26,000. EdgeRock Capital LLC bought a new stake in shares of Kinder Morgan during the third quarter worth approximately $29,000. TD Capital Management LLC bought a new stake in shares of Kinder Morgan during the third quarter worth approximately $33,000. Clearstead Advisors LLC raised its stake in shares of Kinder Morgan by 40.7% during the second quarter. Clearstead Advisors LLC now owns 2,054 shares of the pipeline company’s stock worth $34,000 after buying an additional 594 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Kinder Morgan by 109.2% during the third quarter. Massmutual Trust Co. FSB ADV now owns 2,155 shares of the pipeline company’s stock worth $36,000 after buying an additional 1,125 shares during the last quarter. 60.48% of the stock is owned by institutional investors.
Kinder Morgan Stock Down 1.6 %
Shares of Kinder Morgan stock traded down $0.27 on Friday, hitting $16.28. The company had a trading volume of 27,042,040 shares, compared to its average volume of 13,436,452. The firm has a market capitalization of $36.60 billion, a P/E ratio of 14.54, a P/E/G ratio of 5.11 and a beta of 0.95. Kinder Morgan, Inc. has a twelve month low of $15.77 and a twelve month high of $20.20. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.55 and a quick ratio of 0.46. The stock has a 50-day moving average of $17.94 and a 200-day moving average of $17.94.
Kinder Morgan announced that its board has initiated a stock buyback program on Wednesday, January 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the pipeline company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Kinder Morgan Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Tuesday, January 31st were issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.82%. The ex-dividend date of this dividend was Monday, January 30th. Kinder Morgan’s dividend payout ratio (DPR) is presently 99.11%.
In related news, VP Anthony B. Ashley sold 13,232 shares of the stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $18.14, for a total transaction of $240,028.48. Following the completion of the transaction, the vice president now owns 27,826 shares in the company, valued at $504,763.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP John W. Schlosser sold 1,500 shares of the stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $18.44, for a total transaction of $27,660.00. Following the completion of the transaction, the vice president now owns 19,719 shares in the company, valued at $363,618.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Anthony B. Ashley sold 13,232 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $18.14, for a total transaction of $240,028.48. Following the transaction, the vice president now owns 27,826 shares of the company’s stock, valued at approximately $504,763.64. The disclosure for this sale can be found here. Insiders sold 16,232 shares of company stock worth $294,958 over the last quarter. 14.22% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of research firms recently weighed in on KMI. Sanford C. Bernstein raised shares of Kinder Morgan from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $19.00 to $22.00 in a research note on Wednesday, March 1st. Barclays boosted their price target on shares of Kinder Morgan from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 18th. Citigroup began coverage on shares of Kinder Morgan in a research note on Thursday, December 8th. They set a “neutral” rating and a $19.00 price target for the company. StockNews.com began coverage on shares of Kinder Morgan in a report on Thursday. They set a “hold” rating for the company. Finally, Scotiabank began coverage on shares of Kinder Morgan in a report on Thursday, March 2nd. They set a “sector perform” rating and a $20.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Kinder Morgan currently has an average rating of “Hold” and an average price target of $20.55.
About Kinder Morgan
Kinder Morgan, Inc engages in providing pipeline transportation of natural gas services. It operates through the following business segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment operates major interstate and intrastate natural gas pipelines and storage systems.
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