Virginia Wealth Management Group Inc. Lowers Position in Kinder Morgan, Inc. (NYSE:KMI)

Virginia Wealth Management Group Inc. lowered its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 195,944 shares of the pipeline company's stock after selling 9,517 shares during the quarter. Kinder Morgan comprises approximately 3.5% of Virginia Wealth Management Group Inc.'s investment portfolio, making the stock its 3rd biggest holding. Virginia Wealth Management Group Inc.'s holdings in Kinder Morgan were worth $5,590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Kinder Morgan in the fourth quarter valued at about $917,523,000. Raymond James Financial Inc. acquired a new stake in Kinder Morgan during the fourth quarter worth about $157,804,000. Assenagon Asset Management S.A. lifted its holdings in shares of Kinder Morgan by 212.5% in the first quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company's stock worth $156,009,000 after acquiring an additional 3,718,521 shares during the last quarter. Blackstone Inc. lifted its holdings in shares of Kinder Morgan by 435.0% in the fourth quarter. Blackstone Inc. now owns 4,358,263 shares of the pipeline company's stock worth $119,416,000 after acquiring an additional 3,543,670 shares during the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in shares of Kinder Morgan in the fourth quarter worth about $87,729,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KMI has been the subject of a number of research reports. Barclays upgraded shares of Kinder Morgan from an "equal weight" rating to an "overweight" rating and set a $31.00 price objective for the company in a report on Monday, March 3rd. Stifel Nicolaus lifted their price objective on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday, June 3rd. Scotiabank lifted their price target 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. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Kinder Morgan in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Kinder Morgan from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.21.

Kinder Morgan Trading Down 0.2%

Shares of NYSE:KMI traded down $0.05 during trading on Friday, reaching $27.61. 13,024,872 shares of the company traded hands, compared to its average volume of 14,055,832. The firm has a market capitalization of $61.34 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 3.08 and a beta of 0.74. Kinder Morgan, Inc. has a 52-week low of $19.47 and a 52-week high of $31.48. The company has a current ratio of 0.49, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94. The business's fifty day moving average is $27.28 and its 200-day moving average is $27.44.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.34. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.02 billion. Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. As a group, analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Increases Dividend

The business also recently declared 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 4.24%. The ex-dividend date of this dividend was Wednesday, April 30th. This is an increase from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's dividend payout ratio (DPR) is presently 100.86%.

Insider Transactions at Kinder Morgan

In related news, President Thomas A. Martin sold 18,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $27.57, for a total transaction of $496,260.00. Following the completion of the sale, the president now directly owns 789,652 shares in the company, valued at approximately $21,770,705.64. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 54,000 shares of company stock worth $1,522,440 over the last three months. 12.73% of the stock is currently owned by company insiders.

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.