Mackenzie Financial Corp Sells 26,292 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• Mackenzie Financial Corp reduced its stake in Kinder Morgan, Inc. by selling 26,292 shares, bringing its total ownership to 769,843 shares valued at approximately $21.96 million.
• In related insider activity, Kinder Morgan's president Thomas A. Martin sold 18,000 shares, while director Amy W. Chronis purchased 2,759 shares, indicating mixed insider trading sentiments.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Kinder Morgan, with target prices ranging from $28.00 to $34.00, reflecting optimism about the company's future growth.

Mackenzie Financial Corp decreased its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769,843 shares of the pipeline company's stock after selling 26,292 shares during the quarter. Mackenzie Financial Corp's holdings in Kinder Morgan were worth $21,964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Abbot Financial Management Inc. raised its position in Kinder Morgan by 4.8% in the first quarter. Abbot Financial Management Inc. now owns 45,532 shares of the pipeline company's stock worth $1,299,000 after acquiring an additional 2,082 shares during the period. Prosperity Consulting Group LLC increased its position in Kinder Morgan by 9.6% in the first quarter. Prosperity Consulting Group LLC now owns 14,856 shares of the pipeline company's stock worth $424,000 after buying an additional 1,298 shares during the last quarter. TCW Group Inc. raised its stake in shares of Kinder Morgan by 0.6% in the first quarter. TCW Group Inc. now owns 253,061 shares of the pipeline company's stock valued at $7,220,000 after buying an additional 1,555 shares during the period. Dudley Capital Management LLC lifted its position in shares of Kinder Morgan by 20.4% during the 1st quarter. Dudley Capital Management LLC now owns 66,424 shares of the pipeline company's stock valued at $1,895,000 after buying an additional 11,272 shares during the last quarter. Finally, Texas Yale Capital Corp. increased its holdings in Kinder Morgan by 87.6% in the 1st quarter. Texas Yale Capital Corp. now owns 37,624 shares of the pipeline company's stock worth $1,073,000 after acquiring an additional 17,565 shares during the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Trading Up 0.1%

Shares of NYSE:KMI traded up $0.03 on Friday, reaching $28.09. 16,323,561 shares of the company traded hands, compared to its average volume of 15,092,606. Kinder Morgan, Inc. has a 52 week low of $19.68 and a 52 week high of $31.48. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The business's 50-day simple moving average is $27.95 and its 200 day simple moving average is $27.56. The stock has a market capitalization of $62.42 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 3.53 and a beta of 0.78.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share 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 analysts' expectations of $3.75 billion. During the same quarter in the prior year, the company posted $0.26 EPS. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, equities analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays reiterated an "overweight" rating and issued a $32.00 target price (up previously from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. JPMorgan Chase & Co. raised their target price on Kinder Morgan from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday. Cowen started coverage on shares of Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating on the stock. Stifel Nicolaus raised their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "hold" rating in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company boosted their target price on Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.13.

Insiders Place Their Bets

In other Kinder Morgan 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 sale, the president directly owned 771,652 shares of the company's stock, valued at approximately $21,806,885.52. The trade was a 2.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amy W. Chronis bought 2,759 shares of the firm's stock in a transaction dated Monday, July 28th. The stock was purchased at an average cost of $27.21 per share, with a total value of $75,072.39. Following the transaction, the director directly owned 34,764 shares in the company, valued at approximately $945,928.44. This represents a 8.62% increase in their position. The disclosure for this purchase can be found here. 12.73% of the stock is currently owned by insiders.

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.