Rakuten Investment Management Inc. Buys 30,885 Shares of Kinder Morgan, Inc. $KMI

Rakuten Investment Management Inc. grew its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 9.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 347,271 shares of the pipeline company’s stock after acquiring an additional 30,885 shares during the period. Rakuten Investment Management Inc.’s holdings in Kinder Morgan were worth $10,574,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Oak Family Advisors LLC purchased a new position in Kinder Morgan in the second quarter valued at about $3,627,000. State Street Corp boosted its stake in shares of Kinder Morgan by 4.3% during the 2nd 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 last quarter. International Assets Investment Management LLC acquired a new stake in Kinder Morgan in the first quarter valued at $3,406,000. Envestnet Asset Management Inc. boosted its stake in Kinder Morgan by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,122,523 shares of the pipeline company’s stock valued at $163,766,000 after acquiring an additional 38,739 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Kinder Morgan by 10.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 438,959 shares of the pipeline company’s stock valued at $14,034,000 after acquiring an additional 41,563 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Trading Down 4.1%

NYSE:KMI opened at $30.24 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a 1-year low of $25.92 and a 1-year high of $34.81. The firm has a market capitalization of $67.37 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 2.20 and a beta of 0.58. The stock has a fifty day simple moving average of $32.11 and a 200 day simple moving average of $32.11.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, October 21st. The pipeline company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the business posted $0.29 EPS. The company’s revenue was up 9.3% on a year-over-year basis. Sell-side analysts forecast that Kinder Morgan, Inc. will post 1.57 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a $0.2975 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.19 dividend on an annualized basis and a yield of 3.9%. Kinder Morgan’s payout ratio is 73.46%.

Insider Buying and Selling

In other news, VP Michael Garthwaite sold 1,550 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $33.65, for a total transaction of $52,157.50. Following the transaction, the vice president owned 47,313 shares in the company, valued at $1,592,082.45. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KMI. Freedom Broker raised Kinder Morgan from a “hold” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $39.00 in a report on Thursday, October 22nd. Argus upped their price objective on Kinder Morgan from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Wells Fargo & Company increased their target price on Kinder Morgan from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, October 22nd. TD Cowen increased their price objective on shares of Kinder Morgan from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. Finally, Jefferies Financial Group increased their target price on Kinder Morgan from $33.00 to $37.00 and gave the stock a “hold” rating in a research report on Thursday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and a consensus price target of $37.15.

About Kinder Morgan

Kinder Morgan, Inc (NYSE: KMI) is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.

The company’s natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.