Mutual Advisors LLC, a well-known American investment firm, has recently raised its stake in Kinder Morgan, Inc. (NYSE:KMI). According to the company’s latest disclosure with the Securities and Exchange Commission (SEC), Mutual Advisors LLC has boosted its hold on Kinder Morgan by 3.7% during the first quarter of 2023.
Reports suggest that this significant increase in stake is due to Kinder Morgan’s strong performance in the energy market. As of filing with the SEC, Mutual Advisors LLC owned 206,316 shares of Kinder Morgan’s stock worth an estimated $3,613,000.
The pipeline business had released its quarterly earnings data on Wednesday, April 19th. During this period, Kinder Morgan had posted an impressive $0.30 earnings per share – beating analysts’ consensus estimate by $0.01. The company also recorded revenue of $3.89 billion during the quarter.
Despite being lower than analysts’ expectations of revenue reaching up to $4.75 billion for this period and a decline in sales over the year; from down 9.4% compared to last year’s records; Kinder Morgan still received glowing remarks from experts following their effective handling of operations.
With reports indicating that analysts predict Kinder Morgan would post an EPS of 1.09 for the current fiscal year – it seems as though investors are set to keep a watchful eye on how the energy-infrastructure company performs going forward.
Kinder Morgan operates as a North American energy infrastructure firm with four distinct segments: Natural Gas Pipelines, Products Pipelines, Terminals and CO2 facilities that liquefy natural gas gasification and storage systems that provide underground storage for pipelines amongst other areas crucial for access to reliable oil resources.
Overall, Kinder Morgan’s solid foundation both structurally and performance-wise have assured investors betting long-term goals by increased holding to gain maximization benefits in contrast & Mutual Advisors LLC who now see consistent and reliable growth potential and opportunity in the company.
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Institutional Investors and Hedge Funds Show Confidence in Kinder Morgan’s Future Prospect
Kinder Morgan, Inc. is a leading North American energy infrastructure company that operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. Recently, the company has been attracting attention from institutional investors and hedge funds as they increase their positions in the pipeline company’s stock.
Centaurus Financial Inc. increased its position in Kinder Morgan by 6.5% in the third quarter of 2023 with an additional 543 shares worth $147,000. Meanwhile, Kovack Advisors Inc. grew its stake in the company by 2.8% in the same quarter and now owns 19,873 shares with a value of $331,000 after acquiring an additional 547 shares during the period.
CHICAGO TRUST Co NA also saw growth in their position by 4.5% during the first quarter of this year with an additional 559 shares worth $229,000 while Royal Capital Wealth Management LLC raised its position by 4.1% during the third quarter and now owns 14,753 shares valued at $245,000 after acquiring an additional 579 shares.
Finally, Proquility Private Wealth Partners LLC lifted its stake in Kinder Morgan’s stocks by 0.5% during Q3 of this year owning about 128,968 shares valued at around $2,146,000 after buying an additional 580 shares during that period.
According to data obtained from Bloomberg on June 22nd this year,. institutional investors and hedge funds own around 61.03% of Kinder Morgan’s stock which reflects confidence among large asset management firms towards investing in oil & gas companies following COVID-19 setbacks.
It is important to note that KMI has had a fluctuating stock performance as it opened at $16.65 on Thursday with a 52-week low of $15.92 and a high of $19.35 amidst speculation regarding further approval for infrastructural projects from the government.
Moreover, the firm recently announced an increase in their quarterly dividend to $0.2825 per share which was paid on May 15th, up from their previous quarter’s dividend of $0.28. This means that investors of record on May 1st this year have been paid a substantial dividend yield of 6.79%.
Recent research reports on Kinder Morgan indicate market optimism as Sanford C. Bernstein raised their rating to an “outperform” rating with a price target of $22.00 citing potential future growth prospects while Scotiabank initiated coverage marking the stock as “sector perform” with a price objective of $20.00 reflecting overall positive sentiment in the oil and gas industry.
In conclusion, despite fluctuations in KMI’s stock performance, large institutional investors and hedge funds appear bullish about its future prospects as the company continues to dominate energy infrastructure operations across North America.
