Kinder Morgan, Inc. (NYSE:KMI) Stock Position Increased by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group Inc. increased its stake in Kinder Morgan by 4.8%, owning 439,008 shares worth about $12.5 million following additional purchases in the first quarter.
• Insider selling was reported, with VP Sital K. Mody and CFO David Patrick Michels selling a combined total of 85,549 shares, valued at over $2.4 million.
• Kinder Morgan declared a quarterly dividend of $0.2925 per share, resulting in an annualized yield of 4.2% and a payout ratio of 95.90%.

PNC Financial Services Group Inc. raised its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 4.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 439,008 shares of the pipeline company's stock after purchasing an additional 19,958 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Kinder Morgan were worth $12,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Sierra Ocean LLC grew its holdings in Kinder Morgan by 927.1% in the 1st quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock worth $25,000 after buying an additional 788 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in Kinder Morgan during the 4th quarter worth $26,000. Morse Asset Management Inc bought a new position in shares of Kinder Morgan in the fourth quarter worth $27,000. Heck Capital Advisors LLC acquired a new position in shares of Kinder Morgan during the fourth quarter valued at $29,000. Finally, JNBA Financial Advisors raised its stake in shares of Kinder Morgan by 669.2% during the first quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 870 shares in the last quarter. Institutional investors own 62.52% of the company's stock.

Insider Buying and Selling at Kinder Morgan

In related news, VP Sital K. Mody sold 45,549 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $27.96, for a total value of $1,273,550.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Patrick Michels sold 40,000 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $28.19, for a total value of $1,127,600.00. Following the sale, the chief financial officer owned 159,428 shares of the company's stock, valued at $4,494,275.32. The trade was a 20.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,715 shares of company stock valued at $3,081,245 in the last ninety days. Company insiders own 12.73% of the company's stock.

Kinder Morgan Stock Performance

Shares of KMI opened at $28.06 on Wednesday. Kinder Morgan, Inc. has a one year low of $20.07 and a one year high of $31.48. The company has a 50-day moving average of $27.96 and a two-hundred day moving average of $27.52. The stock has a market cap of $62.35 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 3.56 and a beta of 0.78. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings results 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 firm's quarterly revenue was up 13.2% on a year-over-year basis. On average, equities research analysts expect that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Thursday, July 31st will be issued a dividend of $0.2925 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.2%. Kinder Morgan's payout ratio is currently 95.90%.

Analyst Upgrades and Downgrades

Several research firms have commented on KMI. Wells Fargo & Company raised their target price on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. TD Cowen started coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating and a $34.00 price objective on the stock. Cowen initiated coverage on Kinder Morgan in a report on Monday, July 7th. They set a "buy" rating on the stock. JPMorgan Chase & Co. increased their price target on Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Finally, Wolfe Research upgraded Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research report on Friday, July 25th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

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.

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