CCM Investment Group LLC Makes New Investment in Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• CCM Investment Group LLC acquired a new stake in Kinder Morgan, purchasing 113,793 shares valued at approximately $3.23 million.
• Kinder Morgan reported earnings with a 13.2% year-over-year revenue increase, earning $0.28 EPS and surpassing the revenue consensus estimate by $0.29 billion.
• A quarterly dividend of $0.2925 per share has been announced, reflecting a 4.4% yield for shareholders of record.

CCM Investment Group LLC acquired a new position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 113,793 shares of the pipeline company's stock, valued at approximately $3,228,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sierra Ocean LLC increased its stake in shares of Kinder Morgan by 927.1% during the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock worth $25,000 after purchasing an additional 788 shares during the period. Fourth Dimension Wealth LLC bought a new position in Kinder Morgan in the fourth quarter valued at approximately $26,000. Morse Asset Management Inc bought a new position in Kinder Morgan in the fourth quarter valued at approximately $27,000. Heck Capital Advisors LLC bought a new position in Kinder Morgan in the 4th quarter valued at approximately $29,000. Finally, JNBA Financial Advisors lifted its stake in Kinder Morgan by 669.2% in the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 870 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

Kinder Morgan Stock Performance

Kinder Morgan stock traded down $0.06 during midday trading on Thursday, reaching $26.82. 9,308,333 shares of the company traded hands, compared to its average volume of 14,621,629. The firm has a market capitalization of $59.58 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 3.34 and a beta of 0.78. The business has a 50 day moving average of $27.80 and a two-hundred day moving average of $27.38. Kinder Morgan, Inc. has a 12 month low of $20.56 and a 12 month high of $31.48. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $3.75 billion. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The company's revenue for the quarter was up 13.2% on a year-over-year basis. As a group, research analysts predict 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 paid a dividend of $0.2925 per share. The ex-dividend date of this dividend 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 is currently 95.90%.

Insider Activity

In related news, EVP Dax Sanders sold 30,127 shares of Kinder Morgan stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.05, for a total value of $814,935.35. Following the completion of the sale, the executive vice president directly owned 292,000 shares in the company, valued at $7,898,600. This trade represents a 9.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total transaction of $508,680.00. Following the completion of the sale, the president owned 771,652 shares of the company's stock, valued at $21,806,885.52. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,842 shares of company stock valued at $3,896,180. 12.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank Of Canada increased their price objective 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. TD Cowen began coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating and a $34.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Morgan Stanley set a $34.00 price target on shares of Kinder Morgan in a research note on Monday, July 7th. Finally, Stifel Nicolaus raised their price target on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a "hold" rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $31.20.

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.