Summit Financial LLC Takes Position in Kinder Morgan, Inc. (NYSE:KMI)

Summit Financial LLC bought a new position in shares of Kinder Morgan, Inc. (NYSE:KMI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,901 shares of the pipeline company’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Essex Financial Services Inc. raised its position in shares of Kinder Morgan by 6.4% during the 2nd quarter. Essex Financial Services Inc. now owns 48,296 shares of the pipeline company’s stock valued at $960,000 after buying an additional 2,902 shares during the period. Aptus Capital Advisors LLC raised its position in Kinder Morgan by 2.5% in the second quarter. Aptus Capital Advisors LLC now owns 29,858 shares of the pipeline company’s stock valued at $593,000 after purchasing an additional 718 shares during the period. Nilsine Partners LLC acquired a new position in shares of Kinder Morgan in the 2nd quarter valued at $280,000. Farther Finance Advisors LLC grew its holdings in shares of Kinder Morgan by 25.5% during the 2nd quarter. Farther Finance Advisors LLC now owns 20,806 shares of the pipeline company’s stock worth $412,000 after purchasing an additional 4,225 shares during the period. Finally, Confluence Wealth Services Inc. increased its position in shares of Kinder Morgan by 102.2% during the 2nd quarter. Confluence Wealth Services Inc. now owns 27,921 shares of the pipeline company’s stock worth $555,000 after purchasing an additional 14,112 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Scotiabank increased their target price on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Royal Bank of Canada lifted their target price on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “sector perform” rating in a report on Tuesday, July 30th. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $18.00 to $22.00 in a research note on Tuesday, June 4th. Finally, Barclays lifted their price objective on Kinder Morgan from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.20.

Insiders Place Their Bets

In other news, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the sale, the vice president now owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Dax Sanders sold 1,729 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Sital K. Mody sold 25,169 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.04, for a total transaction of $529,555.76. The disclosure for this sale can be found here. Insiders sold 148,311 shares of company stock valued at $3,121,891 in the last ninety days. Insiders own 12.64% of the company’s stock.

Kinder Morgan Price Performance

Shares of NYSE KMI opened at $21.41 on Thursday. The stock’s 50-day moving average is $20.83 and its two-hundred day moving average is $19.39. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The company has a market cap of $47.52 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 3.00 and a beta of 0.93. Kinder Morgan, Inc. has a 1-year low of $15.89 and a 1-year high of $21.86.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same quarter last year, the firm earned $0.24 EPS. The company’s revenue was up 2.0% on a year-over-year basis. Analysts forecast that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend was Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is presently 104.55%.

Kinder Morgan 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.