Kinder Morgan, Inc. $KMI Stock: Profund Advisors LLC Reduces Stake

Profund Advisors LLC lessened its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 21.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 81,309 shares of the pipeline company’s stock after selling 22,127 shares during the period. Profund Advisors LLC’s holdings in Kinder Morgan were worth $2,451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ontario Teachers Pension Plan Board purchased a new stake in shares of Kinder Morgan during the second quarter worth $239,397,000. State Street Corp lifted its stake in shares of Kinder Morgan by 4.3% in the second quarter. State Street Corp now owns 130,863,419 shares of the pipeline company’s stock valued at $4,183,704,000 after buying an additional 5,361,578 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Kinder Morgan by 220.9% during the second quarter. Assenagon Asset Management S.A. now owns 3,915,696 shares of the pipeline company’s stock valued at $125,185,000 after purchasing an additional 2,695,654 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Kinder Morgan by 253.0% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,994,968 shares of the pipeline company’s stock valued at $100,421,000 after buying an additional 2,146,573 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Kinder Morgan by 1.1% during the second quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company’s stock worth $5,621,421,000 after purchasing an additional 1,875,143 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

Analysts Set New Price Targets

KMI has been the subject of several recent analyst reports. Mizuho raised their price objective on shares of Kinder Morgan from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Melius Research assumed coverage on shares of Kinder Morgan in a research report on Tuesday, September 22nd. They set a “buy” rating and a $38.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Kinder Morgan from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Argus increased their price objective on shares of Kinder Morgan from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Citigroup raised their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Twelve investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.15.

Insider Buying and Selling at Kinder Morgan

In other news, VP Michael Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction on Friday, October 16th. The shares were sold at an average price of $33.65, for a total transaction of $52,157.50. Following the transaction, the vice president directly owned 47,313 shares of the company’s stock, valued at $1,592,082.45. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.72% of the stock is currently owned by corporate insiders.

Kinder Morgan Stock Performance

KMI stock opened at $33.90 on Monday. Kinder Morgan, Inc. has a twelve month low of $25.60 and a twelve month high of $34.81. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The company has a market cap of $75.52 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59. The business’s fifty day moving average is $32.06 and its 200-day moving average is $32.03.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Kinder Morgan had a return on equity of 10.84% and a net margin of 19.64%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.57 EPS for the current year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be issued a $0.2975 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.19 annualized dividend and a yield of 3.5%. Kinder Morgan’s dividend payout ratio (DPR) is 73.46%.

About Kinder Morgan

Kinder Morgan, Inc (NYSE: KMI) is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.

The company’s natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.