Huntington National Bank Raises Holdings in Kinder Morgan, Inc. $KMI

Huntington National Bank lifted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 14.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 252,210 shares of the pipeline company’s stock after purchasing an additional 31,662 shares during the period. Huntington National Bank’s holdings in Kinder Morgan were worth $7,140,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in KMI. Vanguard Group Inc. increased its position in shares of Kinder Morgan by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 208,116,318 shares of the pipeline company’s stock valued at $5,891,773,000 after purchasing an additional 896,837 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Kinder Morgan by 1.2% during the second quarter. Geode Capital Management LLC now owns 51,848,863 shares of the pipeline company’s stock worth $1,518,195,000 after purchasing an additional 599,152 shares in the last quarter. Norges Bank purchased a new position in Kinder Morgan in the second quarter valued at $1,162,802,000. Orbis Allan Gray Ltd raised its stake in Kinder Morgan by 3.1% in the second quarter. Orbis Allan Gray Ltd now owns 22,635,179 shares of the pipeline company’s stock valued at $665,474,000 after buying an additional 670,856 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Kinder Morgan by 2.8% during the 2nd quarter. Invesco Ltd. now owns 21,949,329 shares of the pipeline company’s stock worth $645,310,000 after buying an additional 603,197 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada boosted their target price on Kinder Morgan from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday. Scotiabank raised their price objective on Kinder Morgan from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, January 23rd. TD Cowen boosted their price objective on Kinder Morgan from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Stifel Nicolaus raised their target price on shares of Kinder Morgan from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Tuesday, November 11th. Finally, Barclays reaffirmed an “overweight” rating on shares of Kinder Morgan in a report on Friday, February 20th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Kinder Morgan currently has an average rating of “Moderate Buy” and a consensus target price of $32.54.

Kinder Morgan Stock Up 0.5%

Kinder Morgan stock opened at $33.23 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.64 and a quick ratio of 0.50. Kinder Morgan, Inc. has a 1-year low of $23.94 and a 1-year high of $33.35. The company has a market cap of $73.93 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 2.74 and a beta of 0.70. The stock’s 50 day moving average price is $29.50 and its 200 day moving average price is $27.89.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, January 21st. The pipeline company reported $0.39 earnings per share (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 business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the firm posted $0.30 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. On average, sell-side analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were given a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, February 2nd. Kinder Morgan’s payout ratio is presently 85.40%.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, VP Anthony B. Ashley sold 8,000 shares of Kinder Morgan stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $31.95, for a total transaction of $255,600.00. Following the completion of the transaction, the vice president owned 100,146 shares in the company, valued at approximately $3,199,664.70. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP John W. Schlosser sold 6,166 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $30.09, for a total transaction of $185,534.94. Following the completion of the sale, the vice president owned 195,038 shares in the company, valued at $5,868,693.42. This represents a 3.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 46,498 shares of company stock worth $1,382,115 over the last ninety days. 12.73% of the stock is currently owned by company insiders.

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.