Founders Financial Securities LLC Buys New Shares in Kinder Morgan, Inc. $KMI

Key Points

• Founders Financial Securities acquired 68,775 Kinder Morgan shares in the third quarter, valued at approximately $2.07 million. Institutional investors collectively own 62.52% of the company.
• Kinder Morgan exceeded quarterly expectations, reporting $0.35 in earnings per share versus the $0.33 consensus estimate and $4.53 billion in revenue, up 9.3% year over year.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $37.15, while Kinder Morgan’s quarterly dividend of $0.2975 implies a 3.5% annualized yield.

Founders Financial Securities LLC purchased a new position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 68,775 shares of the pipeline company's stock, valued at approximately $2,074,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in KMI. BlackRock Inc. grew its holdings in Kinder Morgan by 1.1% during the 2nd quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company's stock worth $5,621,421,000 after acquiring an additional 1,875,143 shares in the last quarter. State Street Corp raised its stake in shares of Kinder Morgan by 4.3% in the 2nd quarter. State Street Corp now owns 130,863,419 shares of the pipeline company's stock valued at $4,183,704,000 after purchasing an additional 5,361,578 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Kinder Morgan by 1.4% during the first quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company's stock worth $2,079,477,000 after purchasing an additional 836,571 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kinder Morgan by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 17,237,384 shares of the pipeline company's stock worth $577,998,000 after purchasing an additional 448,130 shares during the last quarter. Finally, Amundi lifted its position in shares of Kinder Morgan by 5.8% during the first quarter. Amundi now owns 15,130,700 shares of the pipeline company's stock worth $507,332,000 after purchasing an additional 831,125 shares during the last quarter. Institutional investors own 62.52% of the company's stock.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, VP Michael Garthwaite sold 1,550 shares of the business's stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $33.65, for a total transaction of $52,157.50. Following the completion of the transaction, the vice president directly owned 47,313 shares of the company's stock, valued at $1,592,082.45. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Kinder Morgan from $36.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, October 22nd. BMO Capital Markets increased their target price on Kinder Morgan from $36.00 to $37.00 and gave the stock an "outperform" rating in a report on Thursday, October 22nd. Citigroup lifted their target price on Kinder Morgan from $34.00 to $35.00 and gave the stock a "neutral" rating in a research report on Friday, October 23rd. Morgan Stanley boosted their price target on Kinder Morgan from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kinder Morgan from $34.00 to $36.00 and gave the company a "neutral" rating in a research note on Friday, September 4th. Twelve equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.15.

Kinder Morgan Trading Down 0.2%

NYSE:KMI opened at $33.90 on Friday. Kinder Morgan, Inc. has a 12-month low of $25.60 and a 12-month high of $34.81. The firm has a market capitalization of $75.52 billion, a P/E ratio of 21.36, a P/E/G ratio of 2.36 and a beta of 0.59. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.36. The business has a 50 day simple moving average of $32.06 and a 200 day simple moving average of $32.03.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its earnings results on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.37 billion. Kinder Morgan had a return on equity of 10.84% and a net margin of 19.64%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. Equities research analysts predict that Kinder Morgan, Inc. will post 1.57 EPS for the current year.

Kinder Morgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a $0.2975 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.19 annualized dividend and a yield of 3.5%. Kinder Morgan's dividend payout ratio (DPR) is currently 73.46%.

Kinder Morgan Profile

Kinder Morgan, Inc NYSE: KMI is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.

The company's natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.

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