State of Michigan Retirement System Lowers Stake in Kinder Morgan, Inc. (NYSE:KMI)

State of Michigan Retirement System decreased its position in Kinder Morgan, Inc. (NYSE:KMI) by 0.2% during the fourth quarter, Holdings Channel reports. The firm owned 524,545 shares of the pipeline company’s stock after selling 1,300 shares during the quarter. State of Michigan Retirement System’s holdings in Kinder Morgan were worth $14,373,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Kinder Morgan in the 4th quarter valued at $25,000. Centricity Wealth Management LLC purchased a new position in Kinder Morgan during the 4th quarter valued at about $25,000. Modus Advisors LLC acquired a new position in Kinder Morgan in the 4th quarter valued at about $27,000. Heck Capital Advisors LLC purchased a new stake in Kinder Morgan during the fourth quarter worth about $29,000. Finally, Planning Capital Management Corp lifted its position in shares of Kinder Morgan by 143.6% during the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 797 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Kinder Morgan

In related news, VP John W. Schlosser sold 75,461 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.65, for a total transaction of $2,011,035.65. Following the transaction, the vice president now owns 220,681 shares in the company, valued at $5,881,148.65. This trade represents a 25.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $27.70, for a total value of $498,600.00. Following the transaction, the president now directly owns 843,652 shares in the company, valued at approximately $23,369,160.40. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,461 shares of company stock worth $3,012,016. Corporate insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Performance

Shares of KMI opened at $27.04 on Wednesday. The company has a market capitalization of $60.07 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. Kinder Morgan, Inc. has a 52-week low of $17.45 and a 52-week high of $31.48. The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 0.94. The stock has a 50 day moving average price of $27.76 and a 200 day moving average price of $25.64.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. Research analysts predict 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 was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Monday, February 3rd. Kinder Morgan’s payout ratio is 98.29%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KMI shares. UBS Group upped their target price on shares of Kinder Morgan from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Citigroup increased their price objective on Kinder Morgan from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Scotiabank began coverage on Kinder Morgan in a research note on Friday, January 10th. They set a “sector perform” rating and a $26.00 target price for the company. Finally, Mizuho increased their price target on Kinder Morgan from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.21.

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.