State of Alaska Department of Revenue Increases Stake in Kinder Morgan Inc (NYSE:KMI)

State of Alaska Department of Revenue increased its holdings in Kinder Morgan Inc (NYSE:KMI) by 16.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 337,938 shares of the pipeline company’s stock after purchasing an additional 46,738 shares during the period. State of Alaska Department of Revenue’s holdings in Kinder Morgan were worth $7,055,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in KMI. Comerica Securities Inc. acquired a new stake in shares of Kinder Morgan during the 4th quarter worth approximately $241,000. Geode Capital Management LLC boosted its position in Kinder Morgan by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 23,513,119 shares of the pipeline company’s stock valued at $360,962,000 after buying an additional 1,758,792 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in Kinder Morgan in the fourth quarter valued at approximately $3,488,000. Thrivent Financial for Lutherans boosted its position in Kinder Morgan by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 82,924 shares of the pipeline company’s stock valued at $1,275,000 after buying an additional 1,463 shares in the last quarter. Finally, Cetera Advisors LLC boosted its position in Kinder Morgan by 52.2% in the fourth quarter. Cetera Advisors LLC now owns 21,566 shares of the pipeline company’s stock valued at $333,000 after buying an additional 7,396 shares in the last quarter. 62.53% of the stock is owned by institutional investors.

A number of analysts have weighed in on KMI shares. Zacks Investment Research restated a “buy” rating and issued a $23.00 target price on shares of Kinder Morgan in a research report on Saturday, June 29th. Stifel Nicolaus lowered shares of Kinder Morgan from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research report on Monday, June 17th. BMO Capital Markets lowered shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a research report on Monday. Johnson Rice started coverage on shares of Kinder Morgan in a research report on Thursday, May 30th. They issued a “hold” rating and a $21.00 target price on the stock. Finally, Raymond James lowered shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 target price on the stock. in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Kinder Morgan currently has an average rating of “Hold” and a consensus target price of $21.75.

In other Kinder Morgan news, insider Richard D. Kinder purchased 300,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average price of $19.68 per share, with a total value of $5,904,000.00. Following the completion of the purchase, the insider now owns 241,179,496 shares of the company’s stock, valued at $4,746,412,481.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Richard D. Kinder purchased 200,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $19.47 per share, with a total value of $3,894,000.00. Following the purchase, the insider now directly owns 240,401,954 shares of the company’s stock, valued at approximately $4,680,626,044.38. The disclosure for this purchase can be found here. Insiders have bought 1,377,542 shares of company stock valued at $26,918,641 in the last ninety days. Insiders own 13.95% of the company’s stock.

Shares of KMI stock traded down $0.10 during trading hours on Wednesday, hitting $20.60. 12,663,142 shares of the company’s stock traded hands, compared to its average volume of 10,479,626. The firm has a 50 day moving average price of $20.86. The stock has a market cap of $46.62 billion, a PE ratio of 23.14, a PEG ratio of 4.34 and a beta of 0.85. Kinder Morgan Inc has a 12 month low of $14.62 and a 12 month high of $21.50. The company has a current ratio of 0.41, a quick ratio of 0.33 and a debt-to-equity ratio of 0.96.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.59 billion. Kinder Morgan had a net margin of 16.50% and a return on equity of 6.23%. Kinder Morgan’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. Equities analysts forecast that Kinder Morgan Inc will post 0.96 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.86%. The ex-dividend date is Tuesday, July 30th. Kinder Morgan’s payout ratio is currently 112.36%.

About Kinder Morgan

Kinder Morgan, Inc operates as an energy infrastructure company 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 and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.

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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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