iA Global Asset Management Inc. Acquires 69,057 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• iA Global Asset Management Inc. significantly increased its stake in Kinder Morgan by 307.2%, acquiring an additional 69,057 shares during the first quarter, bringing its total holdings to 91,540 shares valued at approximately $2.6 million.
• Kinder Morgan's shares have seen a 12-month low of $20.56 and a high of $31.48, with a recent trading price of $26.89 and a market capitalization of $59.75 billion.
• The company announced a quarterly dividend of $0.2925 per share, reflecting an annualized yield of 4.4%, with a dividend payout ratio currently at 95.90%.

iA Global Asset Management Inc. boosted its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 307.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,540 shares of the pipeline company's stock after purchasing an additional 69,057 shares during the period. iA Global Asset Management Inc.'s holdings in Kinder Morgan were worth $2,612,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sierra Ocean LLC lifted its position in Kinder Morgan by 927.1% in 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 acquired a new stake in Kinder Morgan during the 4th quarter valued at $26,000. Morse Asset Management Inc acquired a new stake in Kinder Morgan during the 4th quarter valued at $27,000. JNBA Financial Advisors increased its stake in shares of Kinder Morgan by 669.2% in the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock worth $29,000 after acquiring an additional 870 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of Kinder Morgan in the fourth quarter worth $29,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on KMI shares. Stifel Nicolaus upped their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. increased their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Cowen assumed coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating on the stock. Wells Fargo & Company increased their target price on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Finally, TD Cowen assumed coverage on shares of Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating and a $34.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Kinder Morgan has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

Insider Activity

In other news, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $27.80, for a total transaction of $171,414.80. Following the completion of the sale, the vice president owned 232,034 shares of the company's stock, valued at approximately $6,450,545.20. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Amy W. Chronis acquired 2,759 shares of the company's stock in a transaction dated Monday, July 28th. The shares were purchased at an average cost of $27.21 per share, with a total value of $75,072.39. Following the acquisition, the director owned 34,764 shares of the company's stock, valued at approximately $945,928.44. This represents a 8.62% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 109,715 shares of company stock valued at $3,081,245. 12.73% of the stock is owned by company insiders.

Kinder Morgan Price Performance

KMI traded up $0.13 during midday trading on Friday, reaching $26.89. 15,114,704 shares of the company's stock were exchanged, compared to its average volume of 18,056,652. The firm has a market capitalization of $59.75 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 3.39 and a beta of 0.78. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99. Kinder Morgan, Inc. has a one year low of $20.56 and a one year high of $31.48. The business has a 50-day simple moving average of $27.89 and a two-hundred day simple moving average of $27.43.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, hitting analysts' consensus estimates of $0.28. The firm 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 company's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. As a group, research analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid 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 yield of 4.4%. Kinder Morgan's dividend payout ratio (DPR) is currently 95.90%.

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.