Cypress Capital Group Grows Stake in Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• Cypress Capital Group increased its stake in Kinder Morgan, Inc. by 21.2% during the first quarter, bringing its total holdings to 58,075 shares valued at approximately $1.65 million.
• Kinder Morgan reported a quarterly earnings per share (EPS) of $0.28, matching analyst expectations, and achieved revenue of $4.04 billion, which surpassed estimates of $3.75 billion.
• The company announced a quarterly dividend of $0.2925 per share, representing an annualized yield of 4.4%, with a significant dividend payout ratio of 95.90%.

Cypress Capital Group increased its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 21.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,075 shares of the pipeline company's stock after acquiring an additional 10,175 shares during the quarter. Cypress Capital Group's holdings in Kinder Morgan were worth $1,657,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in KMI. Morton Capital Management LLC CA increased its holdings in Kinder Morgan by 1.0% during the 1st quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company's stock worth $1,084,000 after purchasing an additional 377 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in Kinder Morgan by 0.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company's stock worth $1,396,000 after purchasing an additional 378 shares in the last quarter. Diligent Investors LLC increased its holdings in Kinder Morgan by 1.5% during the 4th quarter. Diligent Investors LLC now owns 26,083 shares of the pipeline company's stock worth $715,000 after purchasing an additional 381 shares in the last quarter. Signaturefd LLC increased its holdings in Kinder Morgan by 1.8% during the 1st quarter. Signaturefd LLC now owns 21,068 shares of the pipeline company's stock worth $601,000 after purchasing an additional 381 shares in the last quarter. Finally, Aspiriant LLC increased its holdings in Kinder Morgan by 1.7% during the 1st quarter. Aspiriant LLC now owns 23,738 shares of the pipeline company's stock worth $677,000 after purchasing an additional 396 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KMI shares. Barclays reaffirmed an "overweight" rating and issued a $32.00 target price (up from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Royal Bank Of Canada upped their target price on Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a report on Tuesday, April 29th. Morgan Stanley set a $34.00 target price on Kinder Morgan in a report on Monday, July 7th. Cowen started coverage on Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating for the company. Finally, Wolfe Research raised Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 target price for the company in a report on Friday, July 25th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.20.

Kinder Morgan Price Performance

KMI stock traded down $0.10 during trading on Friday, reaching $26.76. The company's stock had a trading volume of 6,057,894 shares, compared to its average volume of 14,604,303. Kinder Morgan, Inc. has a 1 year low of $20.56 and a 1 year high of $31.48. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $59.45 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 3.38 and a beta of 0.78. The company's fifty day moving average is $27.77 and its 200-day moving average is $27.38.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. The business's revenue was up 13.2% on a year-over-year basis. On average, research analysts expect that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a $0.2925 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.4%. Kinder Morgan's dividend payout ratio (DPR) is presently 95.90%.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, CFO David Patrick Michels sold 40,000 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $28.19, for a total value of $1,127,600.00. Following the completion of the sale, the chief financial officer owned 159,428 shares of the company's stock, valued at $4,494,275.32. This trade represents a 20.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John W. Schlosser sold 6,166 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $27.80, for a total transaction of $171,414.80. Following the transaction, the vice president directly owned 232,034 shares in the company, valued at approximately $6,450,545.20. This trade represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,842 shares of company stock worth $3,896,180 in the last quarter. Company insiders own 12.73% of the company's stock.

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.