Kinder Morgan, Inc. $KMI Stock Position Boosted by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 3.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 649,123 shares of the pipeline company’s stock after buying an additional 19,364 shares during the quarter. Fifth Third Bancorp’s holdings in Kinder Morgan were worth $19,571,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. BlackRock Inc. lifted its stake in Kinder Morgan by 1.1% in the second quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company’s stock valued at $5,621,421,000 after buying an additional 1,875,143 shares in the last quarter. State Street Corp boosted its holdings in shares of Kinder Morgan by 4.3% in the second quarter. State Street Corp now owns 130,863,419 shares of the pipeline company’s stock valued at $4,183,704,000 after buying an additional 5,361,578 shares during the period. Bank of America Corp DE increased its position in shares of Kinder Morgan by 1.4% during the first quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company’s stock worth $2,079,477,000 after acquiring an additional 836,571 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Kinder Morgan by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 17,237,384 shares of the pipeline company’s stock worth $577,998,000 after acquiring an additional 448,130 shares in the last quarter. Finally, Amundi raised its holdings in shares of Kinder Morgan by 5.8% during the first quarter. Amundi now owns 15,130,700 shares of the pipeline company’s stock worth $507,332,000 after acquiring an additional 831,125 shares during the period. 62.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KMI. Scotiabank upped their target price on shares of Kinder Morgan from $32.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 27th. Stifel Nicolaus assumed coverage on Kinder Morgan in a report on Wednesday, September 9th. They set a “hold” rating and a $35.00 target price for the company. Mizuho lifted 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. Weiss Ratings lowered Kinder Morgan from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, November 4th. Finally, Capital One Financial initiated coverage on Kinder Morgan in a research report on Tuesday, September 22nd. They set an “equal weight” rating and a $36.00 price objective for the company. Twelve research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.15.

Kinder Morgan Stock Down 0.2%

Kinder Morgan stock opened at $31.94 on Friday. The company has a market cap of $71.16 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 2.23 and a beta of 0.58. Kinder Morgan, Inc. has a 1-year low of $26.24 and a 1-year high of $34.81. The company has a fifty day simple moving average of $32.03 and a 200 day simple moving average of $32.18. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the business earned $0.29 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Research analysts anticipate that Kinder Morgan, Inc. will post 1.57 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a $0.2975 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.19 annualized dividend and a dividend yield of 3.7%. Kinder Morgan’s dividend payout ratio (DPR) is presently 73.46%.

Insider Activity at Kinder Morgan

In related news, VP Michael P. Garthwaite sold 1,550 shares of the stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $33.65, for a total transaction of $52,157.50. Following the completion of the transaction, the vice president directly owned 47,313 shares of the company’s stock, valued at approximately $1,592,082.45. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Richard D. Kinder purchased 500,000 shares of the firm’s 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 purchase, the chairman owned 246,712,353 shares of the company’s stock, valued at approximately $7,398,903,466.47. This represents a 0.20% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 9,300 shares of company stock valued at $292,098. 12.72% of the stock is owned by insiders.

Kinder Morgan Company Profile

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.