Power Corp of Canada Takes Position in Kinder Morgan, Inc. (NYSE:KMI)

Power Corp of Canada acquired a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,380 shares of the pipeline company’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. National Pension Service increased its position in shares of Kinder Morgan by 1.9% during the third quarter. National Pension Service now owns 3,236,070 shares of the pipeline company’s stock valued at $54,107,000 after purchasing an additional 59,491 shares during the period. CENTRAL TRUST Co grew its position in Kinder Morgan by 1.9% in the third quarter. CENTRAL TRUST Co now owns 66,792 shares of the pipeline company’s stock valued at $1,112,000 after acquiring an additional 1,260 shares during the period. M&T Bank Corp grew its position in Kinder Morgan by 2.9% in the third quarter. M&T Bank Corp now owns 121,009 shares of the pipeline company’s stock valued at $2,013,000 after acquiring an additional 3,439 shares during the period. Montchanin Asset Management LLC grew its position in Kinder Morgan by 0.9% in the third quarter. Montchanin Asset Management LLC now owns 325,400 shares of the pipeline company’s stock valued at $5,415,000 after acquiring an additional 3,000 shares during the period. Finally, Advisors Capital Management LLC boosted its stake in Kinder Morgan by 8.5% in the third quarter. Advisors Capital Management LLC now owns 2,810,856 shares of the pipeline company’s stock worth $52,085,000 after purchasing an additional 220,355 shares in the last quarter. 60.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, VP John W. Schlosser sold 1,500 shares of Kinder Morgan stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $18.44, for a total value of $27,660.00. Following the completion of the transaction, the vice president now directly owns 19,719 shares of the company’s stock, valued at approximately $363,618.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kinder Morgan news, VP John W. Schlosser sold 1,500 shares of Kinder Morgan stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $18.44, for a total value of $27,660.00. Following the completion of the transaction, the vice president now directly owns 19,719 shares of the company’s stock, valued at approximately $363,618.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Anthony B. Ashley sold 13,232 shares of Kinder Morgan stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $18.14, for a total value of $240,028.48. Following the completion of the transaction, the vice president now owns 27,826 shares in the company, valued at approximately $504,763.64. The disclosure for this sale can be found here. Insiders sold 16,232 shares of company stock valued at $294,958 in the last three months. Corporate insiders own 12.51% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on Kinder Morgan from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Monday, January 9th. Citigroup assumed coverage on Kinder Morgan in a report on Thursday, December 8th. They issued a “neutral” rating and a $19.00 price objective for the company. Barclays upped their price objective on Kinder Morgan from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, January 18th. Scotiabank assumed coverage on Kinder Morgan in a report on Thursday, March 2nd. They issued a “sector perform” rating and a $20.00 price objective for the company. Finally, Sanford C. Bernstein upgraded Kinder Morgan from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $19.00 to $22.00 in a report on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.55.

Kinder Morgan Trading Down 2.1 %

Shares of Kinder Morgan stock opened at $16.58 on Thursday. The business has a fifty day simple moving average of $18.02 and a two-hundred day simple moving average of $17.97. Kinder Morgan, Inc. has a 1 year low of $15.77 and a 1 year high of $20.20. The company has a market capitalization of $37.27 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 5.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.55 and a quick ratio of 0.46.

Kinder Morgan (NYSE:KMI – Get Rating) last released its quarterly earnings results on Wednesday, January 18th. The pipeline company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Kinder Morgan had a return on equity of 8.26% and a net margin of 13.27%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. Research analysts forecast that Kinder Morgan, Inc. will post 1.1 EPS for the current year.

Kinder Morgan announced that its board has approved a share repurchase plan on Wednesday, January 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Tuesday, January 31st were issued a $0.2775 dividend. The ex-dividend date was Monday, January 30th. This represents a $1.11 annualized dividend and a yield of 6.69%. Kinder Morgan’s dividend payout ratio is presently 99.11%.

Kinder Morgan Profile

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Kinder Morgan, Inc engages in providing pipeline transportation of natural gas services. It operates through the following business segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment operates major interstate and intrastate natural gas pipelines and storage systems.