M&T Bank Corp Sells 9,666 Shares of Kinder Morgan, Inc. (NYSE:KMI)

M&T Bank Corp reduced its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 174,038 shares of the pipeline company's stock after selling 9,666 shares during the quarter. M&T Bank Corp's holdings in Kinder Morgan were worth $4,965,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Xponance Inc. lifted its stake in Kinder Morgan by 5.2% in the fourth quarter. Xponance Inc. now owns 303,044 shares of the pipeline company's stock valued at $8,303,000 after buying an additional 15,114 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in Kinder Morgan by 2.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 2,265,044 shares of the pipeline company's stock valued at $62,062,000 after acquiring an additional 44,474 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Kinder Morgan in the 4th quarter valued at $21,774,000. Bridgewealth Advisory Group LLC bought a new position in Kinder Morgan during the 4th quarter worth about $377,000. Finally, Unigestion Holding SA increased its holdings in Kinder Morgan by 22.3% during the 4th quarter. Unigestion Holding SA now owns 93,364 shares of the pipeline company's stock worth $2,558,000 after purchasing an additional 16,993 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.

Insider Activity at Kinder Morgan

In related news, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total transaction of $508,680.00. Following the completion of the sale, the president directly owned 771,652 shares of the company's stock, valued at approximately $21,806,885.52. This trade represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 12.73% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Kinder Morgan from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Cowen began coverage on Kinder Morgan in a research report on Monday, July 7th. They set a "buy" rating for the company. Morgan Stanley set a $34.00 price target on shares of Kinder Morgan in a research note on Monday, July 7th. Barclays reissued an "overweight" rating and issued a $32.00 price objective (up previously from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Finally, Scotiabank raised their target price on shares of Kinder Morgan from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.40.

Kinder Morgan Stock Performance

Kinder Morgan stock traded up $0.06 during midday trading on Friday, reaching $27.85. 11,279,457 shares of the company's stock were exchanged, compared to its average volume of 13,960,972. The stock's 50-day simple moving average is $27.93 and its 200 day simple moving average is $27.58. The firm has a market cap of $61.88 billion, a price-to-earnings ratio of 24.01, a P/E/G ratio of 2.99 and a beta of 0.75. 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 52 week low of $19.68 and a 52 week high of $31.48.

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

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Wednesday, April 30th. This is a boost from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's payout ratio is currently 100.86%.

Kinder Morgan Company Profile

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.