Connor Clark & Lunn Investment Management Ltd. Has $18.86 Million Stake in Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has significantly increased its holdings in Kinder Morgan, Inc., raising them by 906.4% in the first quarter to $18.86 million, owning 660,975 shares.
• Kinder Morgan reported a net revenue of $4.04 billion for the last quarter, exceeding analyst expectations, with earnings per share meeting consensus at $0.28.
• The company announced a quarterly dividend of $0.2925, reflecting an annualized yield of 4.4% with a high payout ratio of 95.90%.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 906.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 660,975 shares of the pipeline company's stock after acquiring an additional 595,299 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Kinder Morgan were worth $18,858,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KMI. Sierra Ocean LLC boosted its stake in 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 buying an additional 788 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Kinder Morgan during the fourth quarter worth $26,000. Morse Asset Management Inc acquired a new stake in Kinder Morgan during the fourth quarter worth $27,000. Heck Capital Advisors LLC acquired a new stake in Kinder Morgan during the fourth quarter worth $29,000. Finally, JNBA Financial Advisors boosted its stake in Kinder Morgan by 669.2% during the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock worth $29,000 after buying an additional 870 shares in the last quarter. Institutional investors own 62.52% of the company's stock.

Kinder Morgan Stock Down 1.2%

Shares of KMI traded down $0.33 during mid-day trading on Tuesday, hitting $26.56. 15,162,371 shares of the company's stock were exchanged, compared to its average volume of 18,127,970. The company has a market cap of $59.02 billion, a PE ratio of 21.77, a P/E/G ratio of 3.39 and a beta of 0.78. Kinder Morgan, Inc. has a 52 week low of $20.56 and a 52 week high of $31.48. The company has a 50-day simple moving average of $27.82 and a 200 day simple moving average of $27.38. 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, hitting the consensus estimate of $0.28. The company had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The business's quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. On average, research analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

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

Insiders Place Their Bets

In other Kinder Morgan news, CFO David Patrick Michels sold 40,000 shares of Kinder Morgan stock in a transaction on Monday, August 4th. The shares were sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the completion of the transaction, the chief financial officer directly owned 159,428 shares of the company's stock, valued at $4,494,275.32. The trade was a 20.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sital K. Mody sold 45,549 shares of Kinder Morgan stock in a transaction on Friday, August 1st. The stock was sold at an average price of $27.96, for a total transaction of $1,273,550.04. The disclosure for this sale can be found here. Insiders sold 109,715 shares of company stock valued at $3,081,245 in the last ninety days. 12.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on KMI. Barclays restated an "overweight" rating and issued a $32.00 target price (up previously from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. Stifel Nicolaus boosted their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. boosted their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Wolfe Research upgraded shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research report on Friday, July 25th. Finally, TD Cowen assumed coverage on Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating and a $34.00 price objective for the company. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

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.