Maryland State Retirement & Pension System trimmed its position in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 7.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,809,327 shares of the pipeline company’s stock after selling 150,676 shares during the quarter. Kinder Morgan accounts for approximately 0.8% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 19th biggest position. Maryland State Retirement & Pension System owned 0.08% of Kinder Morgan worth $54,551,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of KMI. Quadrant Capital Group LLC boosted its stake in shares of Kinder Morgan by 0.7% in the third quarter. Quadrant Capital Group LLC now owns 47,788 shares of the pipeline company’s stock valued at $1,598,000 after purchasing an additional 309 shares during the period. Laurel Wealth Advisors LLC grew its holdings in shares of Kinder Morgan by 3.6% in the third quarter. Laurel Wealth Advisors LLC now owns 9,068 shares of the pipeline company’s stock valued at $273,000 after purchasing an additional 312 shares in the last quarter. Klingman & Associates LLC increased its stake in Kinder Morgan by 3.9% during the 1st quarter. Klingman & Associates LLC now owns 8,498 shares of the pipeline company’s stock worth $285,000 after buying an additional 319 shares during the period. Transamerica Financial Advisors LLC increased its stake in Kinder Morgan by 72.9% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 778 shares of the pipeline company’s stock worth $25,000 after buying an additional 328 shares during the period. Finally, Optivise Advisory Services LLC increased its stake in Kinder Morgan by 2.9% during the 3rd quarter. Optivise Advisory Services LLC now owns 12,534 shares of the pipeline company’s stock worth $378,000 after buying an additional 354 shares during the period. 62.52% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on KMI. TD Cowen increased their target price on shares of Kinder Morgan from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Royal Bank Of Canada boosted their price target on shares of Kinder Morgan from $36.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 28th. JPMorgan Chase & Co. upped their price objective on Kinder Morgan from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Monday, November 2nd. Scotiabank increased their price objective on Kinder Morgan from $32.00 to $34.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 27th. Finally, Melius Research assumed coverage on Kinder Morgan in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $38.00 price objective on the stock. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, Kinder Morgan presently has an average rating of “Moderate Buy” and an average target price of $37.15.
View Our Latest Analysis on KMI
Insiders Place Their Bets
In other Kinder Morgan news, Chairman Richard Kinder purchased 500,000 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was bought at an average cost of $29.99 per share, with a total value of $14,995,000.00. Following the acquisition, the chairman directly owned 246,712,353 shares of the company’s stock, valued at approximately $7,398,903,466.47. This represents a 0.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael Garthwaite sold 1,550 shares of the company’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $33.65, for a total value of $52,157.50. Following the transaction, the vice president directly owned 47,313 shares of the company’s stock, valued at approximately $1,592,082.45. This represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,300 shares of company stock valued at $292,098 in the last ninety days. Insiders own 12.72% of the company’s stock.
Kinder Morgan Trading Up 1.2%
Shares of NYSE:KMI opened at $31.57 on Thursday. Kinder Morgan, Inc. has a 52 week low of $26.24 and a 52 week high of $34.81. The company’s 50 day moving average is $32.02 and its two-hundred day moving average is $32.15. The company has a market cap of $70.32 billion, a PE ratio of 19.49, a P/E/G ratio of 2.17 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.95.
Kinder Morgan (NYSE:KMI – Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.37 billion. Kinder Morgan had a net margin of 19.64% and a return on equity of 10.84%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. Equities analysts predict that Kinder Morgan, Inc. will post 1.57 earnings per share for the current fiscal year.
Kinder Morgan Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a $0.2975 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.19 dividend on an annualized basis and a yield of 3.8%. Kinder Morgan’s dividend payout ratio (DPR) is currently 73.46%.
Kinder Morgan Profile
Kinder Morgan, Inc. (NYSE: KMI) is an energy infrastructure company that transports and stores natural gas, crude oil, refined petroleum products and other energy-related commodities. Its assets include pipelines, terminals and storage facilities serving energy producers, utilities, industrial customers and other markets across the United States and Canada. The company’s operations include natural gas transportation and storage, refined-products and crude-oil pipelines, bulk and liquids terminals, and carbon dioxide transportation.
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