Advisor Resource Council Buys Shares of 24,071 Kinder Morgan, Inc. (NYSE:KMI)

Advisor Resource Council bought a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 24,071 shares of the pipeline company's stock, valued at approximately $678,000.

Several other hedge funds have also recently added to or reduced their stakes in KMI. Norges Bank acquired a new position in shares of Kinder Morgan during the 4th quarter valued at $917,523,000. Raymond James Financial Inc. acquired a new position in shares of Kinder Morgan during the 4th quarter valued at $157,804,000. Assenagon Asset Management S.A. increased its position in shares of Kinder Morgan by 212.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company's stock valued at $156,009,000 after purchasing an additional 3,718,521 shares during the period. Blackstone Inc. increased its position in shares of Kinder Morgan by 435.0% during the 4th quarter. Blackstone Inc. now owns 4,358,263 shares of the pipeline company's stock valued at $119,416,000 after purchasing an additional 3,543,670 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new position in shares of Kinder Morgan during the 4th quarter valued at $87,729,000. Institutional investors own 62.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on KMI shares. Scotiabank lifted their price target on Kinder Morgan from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Barclays upgraded Kinder Morgan from an "equal weight" rating to an "overweight" rating and set a $31.00 price target on the stock in a research report on Monday, March 3rd. Stifel Nicolaus lifted their target price on Kinder Morgan from $27.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Wells Fargo & Company restated an "overweight" rating on shares of Kinder Morgan in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. lifted their target price on Kinder Morgan from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Kinder Morgan currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.21.

Insider Activity at Kinder Morgan

In related news, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $27.57, for a total transaction of $496,260.00. Following the completion of the sale, the president now owns 789,652 shares of the company's stock, valued at approximately $21,770,705.64. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 54,000 shares of company stock valued at $1,522,440. Insiders own 12.73% of the company's stock.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock opened at $28.01 on Friday. The stock has a market cap of $62.23 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 3.08 and a beta of 0.74. The business has a fifty day simple moving average of $27.44 and a 200-day simple moving average of $27.43. The company has a quick ratio of 0.35, a current ratio of 0.45 and a debt-to-equity ratio of 0.94. Kinder Morgan, Inc. has a 12 month low of $19.47 and a 12 month high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its earnings results on Wednesday, April 16th. The pipeline company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.02 billion. Kinder Morgan had a return on equity of 8.11% and a net margin of 16.67%. On average, sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were given a dividend of $0.2925 per share. This is a boost from Kinder Morgan's previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, April 30th. This represents a $1.17 dividend on an annualized basis and a yield of 4.18%. Kinder Morgan's dividend payout ratio (DPR) is presently 100.86%.

Kinder Morgan 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.

Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan, Inc. (NYSE:KMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.