Pinnacle Associates Ltd. Increases Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Pinnacle Associates Ltd. raised its stake in Kinder Morgan, Inc. (NYSE:KMI) by 12.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,665 shares of the pipeline company’s stock after purchasing an additional 13,823 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Kinder Morgan were worth $2,754,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of KMI. Northwest Investment Counselors LLC purchased a new stake in shares of Kinder Morgan during the 3rd quarter valued at about $28,000. HWG Holdings LP purchased a new stake in shares of Kinder Morgan during the second quarter valued at approximately $30,000. ZRC Wealth Management LLC acquired a new position in shares of Kinder Morgan during the third quarter worth $36,000. Pathway Financial Advisers LLC purchased a new position in shares of Kinder Morgan in the first quarter valued at $30,000. Finally, AlphaMark Advisors LLC grew its holdings in Kinder Morgan by 92.5% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,925 shares of the pipeline company’s stock valued at $38,000 after purchasing an additional 925 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Friday, July 19th. Barclays increased their price target on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. JPMorgan Chase & Co. lifted their price objective on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Bank of America initiated coverage on Kinder Morgan in a research note on Thursday, October 17th. They set a “buy” rating and a $27.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.91.

Kinder Morgan Trading Down 0.2 %

Kinder Morgan stock opened at $24.51 on Friday. Kinder Morgan, Inc. has a 1 year low of $16.06 and a 1 year high of $25.43. The firm’s 50-day moving average is $22.79 and its 200-day moving average is $20.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.28 and a current ratio of 0.46. The company has a market cap of $54.40 billion, a P/E ratio of 22.28, a PEG ratio of 3.06 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The business’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. On average, equities analysts expect that Kinder Morgan, Inc. will post 1.19 earnings per share for the current year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.2875 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.69%. Kinder Morgan’s payout ratio is currently 104.55%.

Insider Buying and Selling at Kinder Morgan

In other news, Director C Park Shaper sold 690,142 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the transaction, the director now owns 6,809,858 shares in the company, valued at approximately $168,543,985.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the transaction, the vice president now owns 307,409 shares in the company, valued at approximately $6,455,589. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director C Park Shaper sold 690,142 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the transaction, the director now directly owns 6,809,858 shares in the company, valued at $168,543,985.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by company insiders.

Kinder Morgan Company 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.