Kinder Morgan, Inc. (NYSE:KMI) Position Reduced by Pitcairn Co.

Pitcairn Co. lowered its stake in Kinder Morgan, Inc. (NYSE:KMI) by 10.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 15,254 shares of the pipeline company’s stock after selling 1,736 shares during the period. Pitcairn Co.’s holdings in Kinder Morgan were worth $337,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new stake in Kinder Morgan during the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of Kinder Morgan during the 1st quarter valued at approximately $30,000. HWG Holdings LP bought a new position in Kinder Morgan during the second quarter worth $30,000. Planning Capital Management Corp boosted its holdings in Kinder Morgan by 143.6% in 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 during the period. Finally, Strategic Financial Concepts LLC bought a new stake in Kinder Morgan during the second quarter valued at $31,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on KMI shares. UBS Group lifted their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 15th. Morgan Stanley set a $26.00 target price on Kinder Morgan in a report on Friday, October 18th. Barclays raised their price target on Kinder Morgan from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. The Goldman Sachs Group upped their price objective on Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Royal Bank of Canada boosted their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.67.

Kinder Morgan Stock Performance

KMI opened at $28.09 on Wednesday. The business has a 50 day moving average price of $24.82 and a two-hundred day moving average price of $21.97. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35. The company has a market capitalization of $62.39 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 4.10 and a beta of 0.91. Kinder Morgan, Inc. has a 1-year low of $16.47 and a 1-year high of $28.81.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. Research analysts predict that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Thursday, October 31st. Kinder Morgan’s payout ratio is 100.88%.

Insider Transactions at Kinder Morgan

In other Kinder Morgan 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 sale, the director now directly owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. This represents a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy W. Chronis bought 2,241 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the transaction, the director now owns 23,995 shares of the company’s stock, valued at $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 12.64% of the company’s stock.

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.