Centric Wealth Management Increases Position in Kinder Morgan, Inc. $KMI

Centric Wealth Management grew its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 28.9% during the third quarter, Holdings Channel reports. The firm owned 109,862 shares of the pipeline company’s stock after acquiring an additional 24,625 shares during the quarter. Centric Wealth Management’s holdings in Kinder Morgan were worth $2,877,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. LFA Lugano Financial Advisors SA acquired a new position in Kinder Morgan in the 2nd quarter valued at about $26,000. CoreFirst Bank & Trust purchased a new position in shares of Kinder Morgan in the second quarter valued at approximately $35,000. Private Wealth Management Group LLC grew its holdings in shares of 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 valued at $35,000 after purchasing an additional 595 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Kinder Morgan during the 2nd quarter worth approximately $40,000. Finally, Capital A Wealth Management LLC acquired a new stake in Kinder Morgan during the 2nd quarter worth approximately $41,000. 62.52% of the stock is owned by institutional investors and hedge funds.

Kinder Morgan Stock Up 0.9%

KMI stock opened at $30.50 on Friday. The stock has a market cap of $67.85 billion, a P/E ratio of 22.26, a PEG ratio of 2.45 and a beta of 0.69. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a twelve month low of $23.94 and a twelve month high of $30.57. The company’s 50 day moving average is $27.57 and its two-hundred day moving average is $27.29.

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

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, February 2nd. Kinder Morgan’s payout ratio is presently 85.40%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of Kinder Morgan from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 13th. Stifel Nicolaus upped their price target on Kinder Morgan from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th. Scotiabank lifted their price objective on Kinder Morgan from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Kinder Morgan in a research report on Thursday, January 22nd. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Kinder Morgan in a report on Friday. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $32.38.

Insider Transactions at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $27.49, for a total transaction of $169,503.34. Following the transaction, the vice president owned 201,204 shares in the company, valued at $5,531,097.96. This trade represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David Patrick Michels sold 20,000 shares of Kinder Morgan 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 directly owned 139,428 shares in the company, valued at approximately $4,182,840. This trade represents a 12.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 38,498 shares of company stock valued at $1,107,462. Insiders own 12.73% of the company’s stock.

Kinder Morgan Profile

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.