ABC Arbitrage SA Purchases Shares of 111,570 Kinder Morgan, Inc. $KMI

ABC Arbitrage SA acquired a new stake in Kinder Morgan, Inc. (NYSE:KMI) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 111,570 shares of the pipeline company’s stock, valued at approximately $3,159,000.

Several other large investors have also added to or reduced their stakes in KMI. Norges Bank bought a new position in Kinder Morgan in the second quarter worth approximately $1,162,802,000. Merewether Investment Management LP acquired a new position in shares of Kinder Morgan during the second quarter worth approximately $138,477,000. 59 North Capital Management LP lifted its holdings in shares of Kinder Morgan by 54.5% in the 2nd quarter. 59 North Capital Management LP now owns 10,597,380 shares of the pipeline company’s stock worth $311,563,000 after purchasing an additional 3,739,398 shares in the last quarter. Marshall Wace LLP grew its position in Kinder Morgan by 364.8% in the 2nd quarter. Marshall Wace LLP now owns 4,165,348 shares of the pipeline company’s stock valued at $122,461,000 after purchasing an additional 3,269,284 shares during the period. Finally, Vanguard Group Inc. increased its stake in Kinder Morgan by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 207,219,481 shares of the pipeline company’s stock valued at $6,092,253,000 after purchasing an additional 3,070,609 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insiders Place Their Bets

In related news, Director William A. Smith acquired 3,000 shares of Kinder Morgan stock in a transaction dated Monday, February 2nd. The shares were purchased at an average cost of $29.75 per share, with a total value of $89,250.00. Following the completion of the purchase, the director owned 31,087 shares of the company’s stock, valued at $924,838.25. This represents a 10.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David Patrick Michels sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $30.00, for a total value of $600,000.00. Following the transaction, the chief financial officer owned 139,428 shares in the company, valued at approximately $4,182,840. The trade was a 12.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,498 shares of company stock valued at $1,126,515 over the last three months. Insiders own 12.73% of the company’s stock.

Kinder Morgan Stock Performance

Shares of KMI opened at $31.03 on Wednesday. The stock’s 50-day simple moving average is $28.06 and its 200 day simple moving average is $27.44. The stock has a market capitalization of $69.03 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 2.55 and a beta of 0.70. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.64. Kinder Morgan, Inc. has a 52-week low of $23.94 and a 52-week high of $31.54.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, January 21st. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Kinder Morgan had a net margin of 18.04% and a return on equity of 9.02%. The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the prior year, the company posted $0.30 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be given a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, February 2nd. Kinder Morgan’s dividend payout ratio (DPR) is presently 85.40%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Kinder Morgan from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Thursday, November 13th. Mizuho lowered their price objective on Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Morgan Stanley reaffirmed a “buy” rating on shares of Kinder Morgan in a research report on Friday, January 30th. UBS Group reiterated a “buy” rating and set a $38.00 price target on shares of Kinder Morgan in a report on Friday, December 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Kinder Morgan from $29.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, January 22nd. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.38.

About Kinder Morgan

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.