Coronation Fund Managers Ltd. Reduces Position in Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• Coronation Fund Managers Ltd. reduced its stake in Kinder Morgan, Inc. by 55.9%, selling 297,061 shares, leaving it with 234,297 shares valued at approximately $6.68 million.
• Several hedge funds increased their holdings in Kinder Morgan, with Sierra Ocean LLC boosting its stake by 927.1%, reflecting growing institutional interest in the company.
• Kinder Morgan declared a quarterly dividend of $0.2925 per share, which translates to an annualized dividend yield of 4.4%, emphasizing the company's commitment to returning value to its shareholders.

Coronation Fund Managers Ltd. decreased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 55.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 234,297 shares of the pipeline company's stock after selling 297,061 shares during the quarter. Coronation Fund Managers Ltd.'s holdings in Kinder Morgan were worth $6,684,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. King Luther Capital Management Corp boosted its position in shares of Kinder Morgan by 1.2% during the 1st quarter. King Luther Capital Management Corp now owns 2,635,802 shares of the pipeline company's stock worth $75,199,000 after acquiring an additional 32,073 shares in the last quarter. Pandora Wealth Inc. acquired a new position in shares of Kinder Morgan during the 1st quarter worth about $57,000. Frank Rimerman Advisors LLC boosted its position in shares of Kinder Morgan by 0.8% in the 1st quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company's stock valued at $1,396,000 after purchasing an additional 378 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Kinder Morgan by 906.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 660,975 shares of the pipeline company's stock valued at $18,858,000 after purchasing an additional 595,299 shares during the period. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Kinder Morgan in the 1st quarter valued at about $10,014,000. Hedge funds and other institutional investors own 62.52% of the company's stock.

Kinder Morgan Stock Performance

Shares of KMI stock traded up $0.29 during trading hours on Wednesday, reaching $26.85. 14,461,627 shares of the company's stock were exchanged, compared to its average volume of 14,659,506. The company has a market cap of $59.66 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 3.39 and a beta of 0.78. The company's 50 day moving average is $27.82 and its two-hundred day moving average is $27.38. Kinder Morgan, Inc. has a 1 year low of $20.56 and a 1 year high of $31.48. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the business posted $0.26 EPS. Kinder Morgan's quarterly revenue was up 13.2% on a year-over-year basis. Equities research analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be paid a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, July 31st. Kinder Morgan's dividend payout ratio (DPR) is presently 95.90%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley set a $34.00 target price on Kinder Morgan in a research report on Monday, July 7th. Wells Fargo & Company increased their price objective on Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. TD Cowen began coverage on Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, Royal Bank Of Canada increased their price objective on Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.13.

Insider Transactions at Kinder Morgan

In related news, VP Sital K. Mody sold 45,549 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $27.96, for a total value of $1,273,550.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $27.80, for a total value of $171,414.80. Following the completion of the transaction, the vice president directly owned 232,034 shares of the company's stock, valued at $6,450,545.20. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,715 shares of company stock worth $3,081,245 over the last ninety days. 12.73% of the stock is currently owned by corporate insiders.

Kinder Morgan Profile

Kinder Morgan, Inc operates as an energy infrastructure company primarily 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 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 gasification, liquefaction, and storage facilities.