Illinois Municipal Retirement Fund Sells 22,179 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Illinois Municipal Retirement Fund cut its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 724,802 shares of the pipeline company's stock after selling 22,179 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Kinder Morgan were worth $20,679,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Hurley Capital LLC acquired a new stake in Kinder Morgan during the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of Kinder Morgan during the fourth quarter worth $26,000. Morse Asset Management Inc bought a new stake in shares of Kinder Morgan in the fourth quarter worth $27,000. Heck Capital Advisors LLC acquired a new stake in Kinder Morgan in the fourth quarter valued at $29,000. Finally, SRS Capital Advisors Inc. increased its holdings in Kinder Morgan by 178.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,098 shares of the pipeline company's stock valued at $30,000 after purchasing an additional 703 shares during the period. 62.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kinder Morgan

In other news, President Thomas A. Martin sold 18,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $28.75, for a total value of $517,500.00. Following the completion of the sale, the president now owns 807,652 shares in the company, valued at $23,219,995. This represents a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 54,000 shares of company stock valued at $1,522,440. 12.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

KMI has been the topic of several analyst reports. Barclays reiterated an "overweight" rating and issued a $32.00 target price (up from $31.00) on shares of Kinder Morgan in a report on Monday. Scotiabank increased 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. Royal Bank Of Canada lifted their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 29th. Wells Fargo & Company reiterated an "overweight" rating on shares of Kinder Morgan in a report on Monday, May 5th. Finally, Stifel Nicolaus boosted their price objective on Kinder Morgan from $27.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.29.

Kinder Morgan Stock Up 0.3%

Kinder Morgan stock traded up $0.09 during mid-day trading on Friday, reaching $28.98. The stock had a trading volume of 17,105,604 shares, compared to its average volume of 14,045,413. 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 fifty-two week low of $19.47 and a fifty-two week high of $31.48. The stock's 50-day simple moving average is $27.56 and its 200-day simple moving average is $27.46. The firm has a market capitalization of $64.38 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 3.11 and a beta of 0.74.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Kinder Morgan had a net margin of 16.67% and a return on equity of 8.11%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.02 billion. On average, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The firm 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. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Wednesday, April 30th. This is a positive change from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's dividend payout ratio is currently 100.86%.

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.