Kinder Morgan, Inc. (NYSE:KMI) Shares Bought by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC increased its stake in Kinder Morgan by 173.5%, owning 219,088 shares worth approximately $6.25 million.
• Multiple large investors have also expanded their positions in Kinder Morgan, with notable increases from Assenagon Asset Management (212.5%) and Blackstone Inc. (435.0%) during recent quarters.
• Kinder Morgan announced a quarterly dividend of $0.2925 per share, representing an annual yield of 4.2%, with a payout ratio of 95.90%.

Cary Street Partners Financial LLC increased its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 173.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 219,088 shares of the pipeline company's stock after acquiring an additional 138,975 shares during the quarter. Cary Street Partners Financial LLC's holdings in Kinder Morgan were worth $6,251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bridgewealth Advisory Group LLC bought a new position in shares of Kinder Morgan during the 4th quarter worth approximately $377,000. Burney Co. grew its holdings in Kinder Morgan by 133.5% in the first quarter. Burney Co. now owns 442,044 shares of the pipeline company's stock worth $12,612,000 after purchasing an additional 252,736 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Kinder Morgan by 402.5% during the first quarter. AdvisorNet Financial Inc now owns 39,393 shares of the pipeline company's stock worth $1,124,000 after purchasing an additional 31,553 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Kinder Morgan by 16.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 389,588 shares of the pipeline company's stock valued at $10,675,000 after purchasing an additional 56,147 shares during the last quarter. Finally, Siemens Fonds Invest GmbH boosted its position in shares of Kinder Morgan by 127.2% in the 4th quarter. Siemens Fonds Invest GmbH now owns 27,978 shares of the pipeline company's stock worth $767,000 after purchasing an additional 15,662 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

Kinder Morgan Stock Performance

Kinder Morgan stock traded up $0.03 during midday trading on Thursday, hitting $26.78. 17,704,609 shares of the company were exchanged, compared to its average volume of 17,759,392. The business has a fifty day simple moving average of $27.92 and a two-hundred day simple moving average of $27.49. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. The firm has a market capitalization of $59.50 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 3.37 and a beta of 0.78. Kinder Morgan, Inc. has a fifty-two week low of $20.56 and a fifty-two week high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, hitting analysts' consensus estimates of $0.28. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The business had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter last year, the company earned $0.26 EPS. The business's revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.2925 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.4%. Kinder Morgan's dividend payout ratio (DPR) is 95.90%.

Analyst Ratings Changes

A number of equities research analysts have commented on KMI shares. Wolfe Research upgraded Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target for the company in a research note on Friday, July 25th. Barclays reiterated an "overweight" rating and issued a $32.00 target price (up from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. Royal Bank Of Canada upped their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 29th. Stifel Nicolaus raised their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "hold" rating in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $31.13.

Insider Activity

In related news, VP John W. Schlosser sold 6,166 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $27.80, for a total value of $171,414.80. Following the completion of the transaction, the vice president owned 232,034 shares of the company's stock, valued at approximately $6,450,545.20. This represents a 2.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Patrick Michels sold 40,000 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $28.19, for a total value of $1,127,600.00. Following the transaction, the chief financial officer owned 159,428 shares in the company, valued at $4,494,275.32. This represents a 20.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,715 shares of company stock worth $3,081,245. 12.73% of the stock is currently owned by corporate insiders.

About Kinder Morgan

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.