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Longbow Finance SA Cuts Position in Kinder Morgan, Inc. (NYSE:KMI)

Kinder Morgan logo with Energy background

Key Points

  • Longbow Finance SA has reduced its stake in Kinder Morgan by 17.7%, owning 302,619 shares valued at $8,634,000 after selling 64,985 shares.
  • Kinder Morgan reported earnings per share (EPS) of $0.28, meeting analysts' expectations, and recorded a 13.2% year-over-year increase in revenue to $4.04 billion.
  • The company announced a quarterly dividend of $0.2925 per share, resulting in an annualized yield of 4.27%, with a payout ratio of 95.90%.
  • MarketBeat previews top five stocks to own in September.

Longbow Finance SA trimmed its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 17.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 302,619 shares of the pipeline company's stock after selling 64,985 shares during the quarter. Longbow Finance SA's holdings in Kinder Morgan were worth $8,634,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Kinder Morgan in the fourth quarter worth $917,523,000. Assenagon Asset Management S.A. grew its holdings in Kinder Morgan by 212.5% in the first quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company's stock worth $156,009,000 after purchasing an additional 3,718,521 shares during the period. Blackstone Inc. grew its holdings in Kinder Morgan by 435.0% in the fourth quarter. Blackstone Inc. now owns 4,358,263 shares of the pipeline company's stock worth $119,416,000 after purchasing an additional 3,543,670 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of Kinder Morgan during the fourth quarter valued at about $87,729,000. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Kinder Morgan by 223.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,465,980 shares of the pipeline company's stock valued at $94,968,000 after buying an additional 2,395,930 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.

Kinder Morgan Trading Up 2.3%

NYSE KMI traded up $0.63 during trading on Tuesday, hitting $27.84. The stock had a trading volume of 5,726,771 shares, compared to its average volume of 14,331,175. The company has a market capitalization of $61.85 billion, a PE ratio of 22.84, a PEG ratio of 3.48 and a beta of 0.75. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average price of $27.93 and a 200 day moving average price of $27.56. Kinder Morgan, Inc. has a twelve month low of $19.68 and a twelve month high of $31.48.

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

Kinder Morgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Thursday, July 31st. Kinder Morgan's payout ratio is currently 95.90%.

Insider Activity

In related news, President Thomas A. Martin sold 18,000 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total transaction of $508,680.00. Following the transaction, the president owned 771,652 shares of the company's stock, valued at $21,806,885.52. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 12.73% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KMI shares. Royal Bank Of Canada boosted their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 29th. Wolfe Research raised shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research report on Friday. Cowen initiated coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They issued a "buy" rating for the company. Morgan Stanley set a $34.00 target price on shares of Kinder Morgan in a research report on Monday, July 7th. Finally, Wells Fargo & Company increased their price target on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Kinder Morgan has a consensus rating of "Moderate Buy" and an average target price of $31.13.

Check Out Our Latest Stock Report on Kinder Morgan

Kinder Morgan Company Profile

(Free Report)

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.

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

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