Kinder Morgan, Inc. $KMI Stake Increased by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• CUSHING ASSET MANAGEMENT increased its Kinder Morgan stake by 11.5% in the third quarter, adding 235,000 shares for a total of 2.27 million shares valued at approximately $68.6 million.
• Kinder Morgan reported quarterly EPS of $0.35, beating estimates by $0.02, while revenue rose 9.3% year over year to $4.53 billion.
• The company declared a quarterly dividend of $0.2975 per share, equivalent to $1.19 annually and a 3.5% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $36.60.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 11.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,274,400 shares of the pipeline company's stock after acquiring an additional 235,000 shares during the quarter. Kinder Morgan comprises approximately 3.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 11th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.10% of Kinder Morgan worth $68,573,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. USS Investment Management Ltd increased its holdings in Kinder Morgan by 10.3% in the 1st quarter. USS Investment Management Ltd now owns 421,306 shares of the pipeline company's stock valued at $14,116,000 after purchasing an additional 39,418 shares during the last quarter. Oak Family Advisors LLC acquired a new position in Kinder Morgan during the second quarter worth $3,627,000. International Assets Investment Management LLC acquired a new position in Kinder Morgan during the first quarter worth $3,406,000. State Street Corp boosted its position in shares of Kinder Morgan by 4.3% during the second quarter. State Street Corp now owns 130,863,419 shares of the pipeline company's stock worth $4,183,704,000 after buying an additional 5,361,578 shares during the period. Finally, iA Global Asset Management Inc. purchased a new position in shares of Kinder Morgan during the first quarter worth $3,075,000. Hedge funds and other institutional investors own 62.52% of the company's stock.

Kinder Morgan Price Performance

Kinder Morgan stock opened at $33.98 on Tuesday. The firm has a market cap of $75.66 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59. Kinder Morgan, Inc. has a 52-week low of $25.60 and a 52-week high of $34.81. The company has a quick ratio of 0.36, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The company's 50 day moving average is $31.91 and its two-hundred day moving average is $31.86.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The pipeline company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.37 billion. Kinder Morgan had a net margin of 19.64% and a return on equity of 10.84%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 EPS. On average, research analysts expect that Kinder Morgan, Inc. will post 1.60 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

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

Insider Activity

In related news, VP Michael Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction on Friday, October 16th. The stock was sold at an average price of $33.65, for a total value of $52,157.50. Following the completion of the transaction, the vice president directly owned 47,313 shares in the company, valued at approximately $1,592,082.45. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 12.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Kinder Morgan from $34.00 to $36.00 and gave the company a "neutral" rating in a research note on Friday, September 4th. 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 research note on Thursday. Wells Fargo & Company raised their target price on Kinder Morgan from $36.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday. Weiss Ratings raised Kinder Morgan from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday. Finally, Mizuho lifted their target price on Kinder Morgan from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Thursday, October 22nd. Twelve analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.60.

Kinder Morgan Company 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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