Pitcairn Co. Cuts Position in Kinder Morgan, Inc. (NYSE:KMI)

Pitcairn Co. lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 10.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,254 shares of the pipeline company’s stock after selling 1,736 shares during the period. Pitcairn Co.’s holdings in Kinder Morgan were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Kinder Morgan by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,591,311 shares of the pipeline company’s stock worth $101,422,000 after acquiring an additional 29,861 shares during the period. Global Retirement Partners LLC boosted its position in Kinder Morgan by 3.5% during the third quarter. Global Retirement Partners LLC now owns 22,813 shares of the pipeline company’s stock worth $504,000 after purchasing an additional 776 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Kinder Morgan by 3.2% in the third quarter. Principal Financial Group Inc. now owns 2,291,704 shares of the pipeline company’s stock valued at $50,624,000 after purchasing an additional 71,984 shares during the last quarter. Czech National Bank raised its stake in shares of Kinder Morgan by 6.9% during the 3rd quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock worth $8,689,000 after buying an additional 25,406 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its position in shares of Kinder Morgan by 1,512.7% in the 3rd quarter. Valley National Advisers Inc. now owns 88,583 shares of the pipeline company’s stock worth $1,956,000 after buying an additional 83,090 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Thomas A. Martin sold 19,121 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the transaction, the president now directly owns 897,652 shares in the company, valued at approximately $23,590,294.56. This represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy W. Chronis acquired 2,241 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was purchased at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the acquisition, the director now directly owns 23,995 shares in the company, valued at $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.64% of the stock is owned by company insiders.

Kinder Morgan Stock Up 0.8 %

KMI opened at $28.09 on Wednesday. Kinder Morgan, Inc. has a 1 year low of $16.47 and a 1 year high of $28.81. The firm has a 50 day moving average price of $24.82 and a 200 day moving average price of $21.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. The company has a market cap of $62.39 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 4.10 and a beta of 0.91.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the company posted $0.25 earnings per share. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. Sell-side analysts expect that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 4.09%. The ex-dividend date was Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is presently 100.88%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KMI. UBS Group increased their target price on Kinder Morgan from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 15th. The Goldman Sachs Group lifted their price target on shares of Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays upped their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Stifel Nicolaus lifted their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, Wells Fargo & Company increased their price target on Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.67.

About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.