International Assets Investment Management LLC Buys 59,805 Shares of Kinder Morgan, Inc. $KMI

Key Points

• International Assets Investment Management initiated a Kinder Morgan position, buying 59,805 shares worth about $1.83 million; institutional investors own 62.52% of the stock.
• Kinder Morgan beat quarterly expectations, reporting $0.35 EPS versus $0.33 forecast and $4.53 billion in revenue, up 9.3% year over year.
• Chairman Richard Kinder bought 500,000 shares for nearly $15 million. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $37.15.

International Assets Investment Management LLC bought a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 59,805 shares of the pipeline company's stock, valued at approximately $1,826,000.

Several other hedge funds also recently added to or reduced their stakes in KMI. Heritage Family Offices LLP purchased a new stake in shares of Kinder Morgan in the third quarter worth about $147,000. Calamos Advisors LLC raised its position in Kinder Morgan by 2.1% during the third quarter. Calamos Advisors LLC now owns 493,782 shares of the pipeline company's stock valued at $14,888,000 after acquiring an additional 10,029 shares in the last quarter. Alta Advisers Ltd raised its position in Kinder Morgan by 85.9% during the third quarter. Alta Advisers Ltd now owns 13,734 shares of the pipeline company's stock valued at $414,000 after acquiring an additional 6,346 shares in the last quarter. Glaxis Capital Management LLC acquired a new position in Kinder Morgan in the third quarter valued at approximately $452,000. Finally, Westside Investment Management Inc. lifted its holdings in Kinder Morgan by 96.3% in the third quarter. Westside Investment Management Inc. now owns 1,288 shares of the pipeline company's stock valued at $39,000 after acquiring an additional 632 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Stock Up 0.1%

Shares of KMI opened at $29.98 on Monday. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a 12 month low of $26.03 and a 12 month high of $34.81. The stock's 50 day moving average is $32.08 and its two-hundred day moving average is $32.12. The firm has a market cap of $66.80 billion, a P/E ratio of 18.51, a PEG ratio of 2.09 and a beta of 0.58.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The pipeline company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.02. The business had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.37 billion. Kinder Morgan had a return on equity of 10.84% and a net margin of 19.64%. The business's revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 earnings per share. Analysts predict that Kinder Morgan, Inc. will post 1.57 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a $0.2975 dividend. This represents a $1.19 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, November 2nd. Kinder Morgan's payout ratio is presently 73.46%.

Insider Buying and Selling at Kinder Morgan

In related news, Chairman Richard D. Kinder bought 500,000 shares of the company's stock in a transaction dated Friday, November 6th. The shares were acquired at an average price of $29.99 per share, for a total transaction of $14,995,000.00. Following the completion of the transaction, the chairman directly owned 246,712,353 shares in the company, valued at $7,398,903,466.47. This trade represents a 0.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan 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 sale, the vice president owned 47,313 shares in the company, valued at approximately $1,592,082.45. This trade represents a 3.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KMI shares. TD Cowen raised their price objective on shares of Kinder Morgan from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, October 22nd. Capital One Financial assumed coverage on shares of Kinder Morgan in a report on Tuesday, September 22nd. They set an "equal weight" rating and a $36.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Kinder Morgan from $36.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, October 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Kinder Morgan from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Monday, November 2nd. Finally, Jefferies Financial Group upped their price objective on shares of Kinder Morgan from $33.00 to $37.00 and gave the stock a "hold" rating in a research report on Thursday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.15.

Kinder Morgan Profile

Kinder Morgan, Inc NYSE: KMI is an energy infrastructure company that transports and stores natural gas, crude oil, refined petroleum products and other energy-related commodities. Its assets include pipelines, terminals and storage facilities serving energy producers, utilities, industrial customers and other markets across the United States and Canada.

The company's operations include natural gas transportation and storage, refined-products and crude-oil pipelines, bulk and liquids terminals, and carbon dioxide transportation.

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