Patton Fund Management Inc. Invests $5.66 Million in Kinder Morgan, Inc. (NYSE:KMI)

Patton Fund Management Inc. acquired a new position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 198,265 shares of the pipeline company's stock, valued at approximately $5,656,000. Kinder Morgan makes up about 1.4% of Patton Fund Management Inc.'s investment portfolio, making the stock its 15th biggest position.

A number of other large investors also recently modified their holdings of the business. Morton Capital Management LLC CA raised its holdings in Kinder Morgan by 1.0% in the 1st quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company's stock valued at $1,084,000 after buying an additional 377 shares during the last quarter. Diligent Investors LLC raised its position 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 during the last quarter. Sowell Financial Services LLC lifted its holdings in Kinder Morgan by 0.5% during the 1st quarter. Sowell Financial Services LLC now owns 79,825 shares of the pipeline company's stock worth $2,277,000 after buying an additional 400 shares during the period. LRI Investments LLC increased its stake in shares of Kinder Morgan by 9.6% in the fourth quarter. LRI Investments LLC now owns 4,946 shares of the pipeline company's stock valued at $136,000 after buying an additional 435 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Kinder Morgan by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 165,727 shares of the pipeline company's stock worth $4,541,000 after acquiring an additional 440 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Kinder Morgan Stock Up 0.3%

NYSE KMI traded up $0.10 during mid-day trading on Wednesday, hitting $27.57. The company's stock had a trading volume of 10,601,214 shares, compared to its average volume of 14,057,862. The firm has a market capitalization of $61.25 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 3.02 and a beta of 0.74. The company's 50 day simple moving average is $27.35 and its 200 day simple moving average is $27.43. The company has a current ratio of 0.45, a quick ratio of 0.35 and a debt-to-equity ratio of 0.94. Kinder Morgan, Inc. has a twelve month low of $19.47 and a twelve month 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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.34. Kinder Morgan had a net margin of 16.67% and a return on equity of 8.11%. The firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.02 billion. Analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a $0.2925 dividend. 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. This represents a $1.17 annualized dividend and a dividend yield of 4.24%. Kinder Morgan's dividend payout ratio is 100.86%.

Insider Activity

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $28.75, for a total transaction of $517,500.00. Following the transaction, the president now directly owns 807,652 shares in the company, valued at approximately $23,219,995. This trade represents a 2.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 54,000 shares of company stock worth $1,522,440 over the last 90 days. 12.73% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised 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. Stifel Nicolaus lifted their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "hold" rating in a research note on Tuesday, June 3rd. Scotiabank boosted their price objective on Kinder Morgan from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Kinder Morgan in a research note on Monday, May 5th. Finally, Barclays raised Kinder Morgan from an "equal weight" rating to an "overweight" rating and set a $31.00 price target on the stock in a research note on Monday, March 3rd. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.21.

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.