Gotham Asset Management LLC trimmed its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 89.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,195 shares of the pipeline company’s stock after selling 542,875 shares during the quarter. Gotham Asset Management LLC’s holdings in Kinder Morgan were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Westside Investment Management Inc. acquired a new stake in shares of Kinder Morgan during the 1st quarter worth approximately $15,734,000. Harbour Investments Inc. acquired a new stake in shares of Kinder Morgan during the 1st quarter worth approximately $25,000. Certified Advisory Corp acquired a new stake in shares of Kinder Morgan during the 1st quarter worth approximately $27,000. Massmutual Trust Co. FSB ADV raised its position in shares of Kinder Morgan by 368.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,721 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 1,354 shares during the period. Finally, Prime Capital Investment Advisors LLC raised its position in shares of Kinder Morgan by 279.9% during the 1st quarter. Prime Capital Investment Advisors LLC now owns 1,907 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 1,405 shares during the period. Institutional investors and hedge funds own 59.43% of the company’s stock.
KMI has been the topic of several analyst reports. TheStreet upgraded Kinder Morgan from a “c+” rating to a “b” rating in a research report on Wednesday, April 21st. The Goldman Sachs Group cut Kinder Morgan from a “neutral” rating to a “sell” rating in a research report on Sunday, June 13th. Morgan Stanley cut Kinder Morgan from an “equal weight” rating to an “underweight” rating and set a $18.00 target price on the stock. in a research report on Wednesday, May 26th. Stifel Nicolaus cut Kinder Morgan from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a research report on Tuesday, June 15th. Finally, Royal Bank of Canada raised their target price on Kinder Morgan from $16.00 to $17.00 and gave the company a “sector perform” rating in a research report on Thursday, April 22nd. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Kinder Morgan presently has a consensus rating of “Hold” and an average price target of $16.87.
Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 21st. The pipeline company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.90 billion. Kinder Morgan had a return on equity of 8.85% and a net margin of 13.28%. The company’s revenue was up 23.0% compared to the same quarter last year. During the same period last year, the company posted $0.17 EPS. On average, equities research analysts expect that Kinder Morgan, Inc. will post 1.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Stockholders of record on Monday, August 2nd will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 6.05%. Kinder Morgan’s dividend payout ratio is presently 122.73%.
In other news, VP John W. Schlosser sold 4,500 shares of the firm’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $18.00, for a total transaction of $81,000.00. Following the completion of the sale, the vice president now directly owns 45,219 shares of the company’s stock, valued at approximately $813,942. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP John W. Schlosser sold 1,500 shares of the firm’s stock in a transaction on Friday, June 25th. The stock was sold at an average price of $18.23, for a total value of $27,345.00. Following the completion of the sale, the vice president now directly owns 42,219 shares of the company’s stock, valued at approximately $769,652.37. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,500 shares of company stock valued at $136,410. Corporate insiders own 14.22% of the company’s stock.
About Kinder Morgan
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and underground storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas liquefaction and storage facilities.
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