DAVENPORT & Co LLC Buys 39,827 Shares of Kinder Morgan, Inc. (NYSE:KMI)

DAVENPORT & Co LLC boosted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 18.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 258,000 shares of the pipeline company's stock after acquiring an additional 39,827 shares during the period. DAVENPORT & Co LLC's holdings in Kinder Morgan were worth $7,361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Kinder Morgan by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 202,846,078 shares of the pipeline company's stock worth $5,557,983,000 after purchasing an additional 1,469,759 shares during the period. Geode Capital Management LLC grew its stake in Kinder Morgan by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 51,759,844 shares of the pipeline company's stock worth $1,414,813,000 after buying an additional 1,252,609 shares in the last quarter. Norges Bank bought a new position in Kinder Morgan in the 4th quarter valued at about $917,523,000. Northern Trust Corp lifted its holdings in shares of Kinder Morgan by 8.3% during the 4th quarter. Northern Trust Corp now owns 20,942,841 shares of the pipeline company's stock worth $573,834,000 after acquiring an additional 1,608,499 shares during the period. Finally, Deutsche Bank AG increased its stake in Kinder Morgan by 16.8% in the fourth quarter. Deutsche Bank AG now owns 14,711,722 shares of the pipeline company's stock valued at $403,101,000 after acquiring an additional 2,116,576 shares during the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President Thomas A. Martin sold 18,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $28.26, for a total value of $508,680.00. Following the transaction, the president owned 771,652 shares in the company, valued at approximately $21,806,885.52. The trade was a 2.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.73% of the company's stock.

Analysts Set New Price Targets

KMI has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on Kinder Morgan from $27.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Royal Bank Of Canada raised their price objective on Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 29th. Barclays reissued an "overweight" rating and set a $32.00 target price (up previously from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. JPMorgan Chase & Co. raised their price target on shares of Kinder Morgan from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, Scotiabank upped their price objective on shares of Kinder Morgan from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.29.

Kinder Morgan Price Performance

KMI stock opened at $28.49 on Thursday. The company has a market capitalization of $63.31 billion, a P/E ratio of 24.56, a PEG ratio of 3.11 and a beta of 0.75. The company has a fifty day moving average price of $27.74 and a 200-day moving average price of $27.51. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.35 and a current ratio of 0.45. Kinder Morgan, Inc. has a 52-week low of $19.68 and a 52-week high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its earnings results on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a return on equity of 8.11% and a net margin of 16.67%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.02 billion. As a group, equities analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were issued a $0.2925 dividend. The ex-dividend date was Wednesday, April 30th. This is a boost from Kinder Morgan's previous quarterly dividend of $0.29. This represents a $1.17 annualized dividend and a yield of 4.11%. Kinder Morgan's dividend payout ratio is presently 100.86%.

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.

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