DNB Asset Management AS Boosts Holdings in Kinder Morgan, Inc. (NYSE:KMI)

DNB Asset Management AS lifted its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 1.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 361,824 shares of the pipeline company’s stock after purchasing an additional 6,866 shares during the period. DNB Asset Management AS’s holdings in Kinder Morgan were worth $7,189,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC lifted its stake in shares of Kinder Morgan by 3,655.3% in the fourth quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock worth $25,000 after buying an additional 1,389 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Kinder Morgan in the fourth quarter worth about $26,000. Pathway Financial Advisers LLC purchased a new position in shares of Kinder Morgan in the first quarter worth about $30,000. Redmont Wealth Advisors LLC purchased a new position in shares of Kinder Morgan in the first quarter worth about $31,000. Finally, OFI Invest Asset Management purchased a new position in shares of Kinder Morgan in the first quarter worth about $31,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Stock Up 2.9 %

Shares of KMI stock traded up $0.58 during trading on Tuesday, reaching $20.66. The company’s stock had a trading volume of 19,885,535 shares, compared to its average volume of 14,308,083. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The company has a market capitalization of $45.85 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 2.92 and a beta of 0.93. The stock’s 50-day moving average price is $20.16 and its 200 day moving average price is $18.75. Kinder Morgan, Inc. has a 1-year low of $15.89 and a 1-year high of $21.86.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that Kinder Morgan, Inc. will post 1.2 EPS for the current year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.2875 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.15 annualized dividend and a dividend yield of 5.57%. Kinder Morgan’s dividend payout ratio is presently 104.55%.

Insider Transactions at Kinder Morgan

In other news, VP Sital K. Mody sold 21,413 shares of Kinder Morgan stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total value of $455,026.25. Following the transaction, the vice president now directly owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total value of $455,026.25. Following the transaction, the vice president now directly owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the transaction, the vice president now directly owns 259,069 shares in the company, valued at $5,116,612.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,582 shares of company stock worth $4,073,082. 12.64% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on KMI. Wells Fargo & Company upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $18.00 to $22.00 in a research report on Tuesday, June 4th. Barclays raised their price objective on shares of Kinder Morgan from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Argus upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Friday, July 19th. UBS Group raised their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.11.

Kinder Morgan Company Profile

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.