Kinder Morgan (NYSE:KMI) Chairman Richard Kinder Acquires 500,000 Shares of Stock

Kinder Morgan, Inc. (NYSE:KMI) Chairman Richard Kinder acquired 500,000 shares of the stock in a transaction on Friday, November 6th. The stock was bought at an average price of $29.99 per share, with a total value of $14,995,000.00. Following the completion of the acquisition, the chairman directly owned 246,712,353 shares of the company’s stock, valued at $7,398,903,466.47. This trade represents a 0.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Kinder Morgan Trading Down 0.7%

Shares of NYSE:KMI opened at $29.98 on Friday. Kinder Morgan, Inc. has a 1 year low of $26.03 and a 1 year high of $34.81. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.55. The firm has a market capitalization of $66.80 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 2.28 and a beta of 0.58. The business’s 50 day moving average price is $32.08 and its 200-day moving average price is $32.12.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. Kinder Morgan had a net margin of 19.64% and a return on equity of 10.84%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the prior year, the company earned $0.29 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. On average, equities research analysts forecast that Kinder Morgan, Inc. will post 1.57 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a $0.2975 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.19 dividend on an annualized basis and a yield of 4.0%. Kinder Morgan’s payout ratio is presently 73.46%.

Institutional Trading of Kinder Morgan

A number of institutional investors have recently added to or reduced their stakes in the business. Ibex Wealth Advisors increased its position in Kinder Morgan by 1.5% during the third quarter. Ibex Wealth Advisors now owns 577,070 shares of the pipeline company’s stock worth $17,399,000 after buying an additional 8,693 shares during the last quarter. Vista Capital Partners Inc. bought a new position in Kinder Morgan in the third quarter worth approximately $243,000. 10Elms LLP lifted its holdings in Kinder Morgan by 7.2% in the 3rd quarter. 10Elms LLP now owns 7,478 shares of the pipeline company’s stock valued at $225,000 after purchasing an additional 500 shares in the last quarter. Financial Freedom LLC purchased a new position in Kinder Morgan during the 3rd quarter worth $42,000. Finally, Allworth Financial LP lifted its position in Kinder Morgan by 202.8% during the third quarter. Allworth Financial LP now owns 347,021 shares of the pipeline company’s stock valued at $11,094,000 after buying an additional 232,420 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Kinder Morgan from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Mizuho boosted their price target on Kinder Morgan from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, October 22nd. Capital One Financial started coverage on shares of Kinder Morgan in a report on Tuesday, September 22nd. They issued an “equal weight” rating and a $36.00 price target on the stock. TD Cowen raised their price objective on shares of Kinder Morgan from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Finally, Scotiabank increased their target price on Kinder Morgan from $32.00 to $34.00 and gave the company a “sector perform” rating in a report on Tuesday, October 27th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.15.

About Kinder Morgan

Kinder Morgan, Inc (NYSE: KMI) is an energy infrastructure company that transports and stores natural gas, crude oil, refined petroleum products and other energy-related commodities. Its assets include pipelines, terminals and storage facilities serving energy producers, utilities, industrial customers and other markets across the United States and Canada.

The company’s operations include natural gas transportation and storage, refined-products and crude-oil pipelines, bulk and liquids terminals, and carbon dioxide transportation.