CIBC Bancorp USA Inc. Buys Shares of 315,073 Kinder Morgan, Inc. $KMI

CIBC Bancorp USA Inc. purchased a new position in Kinder Morgan, Inc. (NYSE:KMI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 315,073 shares of the pipeline company’s stock, valued at approximately $8,920,000.

A number of other large investors have also added to or reduced their stakes in KMI. CoreFirst Bank & Trust bought a new stake in Kinder Morgan during the 2nd quarter valued at $35,000. Private Wealth Management Group LLC boosted its holdings in Kinder Morgan by 94.9% in the third quarter. Private Wealth Management Group LLC now owns 1,222 shares of the pipeline company’s stock worth $35,000 after acquiring an additional 595 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Kinder Morgan by 314.6% during the third quarter. Westside Investment Management Inc. now owns 1,360 shares of the pipeline company’s stock valued at $38,000 after buying an additional 1,032 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Kinder Morgan during the second quarter valued at $40,000. Finally, JPL Wealth Management LLC purchased a new stake in Kinder Morgan in the third quarter worth approximately $40,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Down 1.7%

Shares of NYSE KMI opened at $32.88 on Friday. The stock has a market cap of $73.15 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 3.08 and a beta of 0.68. Kinder Morgan, Inc. has a 52-week low of $23.94 and a 52-week high of $34.24. The business has a 50-day moving average price of $31.31 and a 200 day moving average price of $28.58. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 0.95.

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

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, February 2nd. Kinder Morgan’s dividend payout ratio is currently 85.40%.

Insider Buying and Selling

In related news, VP Michael P. Garthwaite sold 1,550 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $33.30, for a total transaction of $51,615.00. Following the sale, the vice president owned 46,393 shares in the company, valued at $1,544,886.90. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John W. Schlosser sold 6,166 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $33.67, for a total transaction of $207,609.22. Following the completion of the transaction, the vice president owned 188,872 shares of the company’s stock, valued at approximately $6,359,320.24. This trade represents a 3.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 48,048 shares of company stock valued at $1,469,863 over the last three months. Company insiders own 12.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Mizuho boosted their price objective on Kinder Morgan from $31.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, March 5th. Stifel Nicolaus upped their target price on Kinder Morgan from $30.00 to $33.00 and gave the company a “hold” rating in a research note on Friday, March 13th. UBS Group restated a “buy” rating and set a $38.00 price objective on shares of Kinder Morgan in a report on Friday, December 12th. Morgan Stanley boosted their target price on shares of Kinder Morgan from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Finally, TD Cowen raised their target price on Kinder Morgan from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.46.

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.