Kinder Morgan Inc (NYSE:KMI) Major Shareholder Purchases $4,242,000.00 in Stock

Kinder Morgan Inc (NYSE:KMI) major shareholder Richard D. Kinder purchased 300,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was acquired at an average cost of $14.14 per share, for a total transaction of $4,242,000.00. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of KMI traded up $0.28 on Wednesday, hitting $14.40. The company’s stock had a trading volume of 336,409 shares, compared to its average volume of 12,072,072. The company has a quick ratio of 0.50, a current ratio of 0.48 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $32.61 billion, a price-to-earnings ratio of 201.74, a P/E/G ratio of 5.46 and a beta of 1.04. The firm’s fifty day moving average price is $15.07 and its 200-day moving average price is $16.73. Kinder Morgan Inc has a fifty-two week low of $9.42 and a fifty-two week high of $22.58.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, July 22nd. The pipeline company reported $0.17 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. Kinder Morgan had a net margin of 1.41% and a return on equity of 6.02%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the prior year, the company earned $0.22 earnings per share. As a group, equities analysts predict that Kinder Morgan Inc will post 0.87 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date is Friday, July 31st. Kinder Morgan’s dividend payout ratio (DPR) is presently 110.53%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fieldpoint Private Securities LLC raised its holdings in shares of Kinder Morgan by 4.8% during the first quarter. Fieldpoint Private Securities LLC now owns 15,028 shares of the pipeline company’s stock valued at $209,000 after acquiring an additional 687 shares in the last quarter. Old Port Advisors raised its holdings in Kinder Morgan by 3.2% in the 1st quarter. Old Port Advisors now owns 22,549 shares of the pipeline company’s stock worth $314,000 after purchasing an additional 690 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of Kinder Morgan by 4.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 17,630 shares of the pipeline company’s stock worth $245,000 after purchasing an additional 720 shares during the period. IFG Advisors LLC boosted its stake in shares of Kinder Morgan by 4.5% during the 1st quarter. IFG Advisors LLC now owns 17,682 shares of the pipeline company’s stock valued at $246,000 after purchasing an additional 764 shares in the last quarter. Finally, Advisors Management Group Inc. ADV increased its position in shares of Kinder Morgan by 1.7% during the first quarter. Advisors Management Group Inc. ADV now owns 47,849 shares of the pipeline company’s stock valued at $666,000 after buying an additional 815 shares during the period. 61.44% of the stock is currently owned by hedge funds and other institutional investors.

KMI has been the subject of several recent research reports. Royal Bank of Canada reissued a “hold” rating and issued a $19.00 price target on shares of Kinder Morgan in a research report on Tuesday, April 21st. Wells Fargo & Co dropped their price objective on Kinder Morgan from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Goldman Sachs Group lowered shares of Kinder Morgan from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $16.00 to $15.00 in a report on Monday, July 6th. Raymond James reduced their price target on shares of Kinder Morgan from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Finally, SunTrust Banks reissued a “buy” rating and issued a $18.00 target price on shares of Kinder Morgan in a report on Thursday, April 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.89.

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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