Public Sector Pension Investment Board Sells 696,349 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• The Public Sector Pension Investment Board reduced its stake in Kinder Morgan, Inc. by 57.4%, selling 696,349 shares, leaving them with 516,840 shares valued at approximately $14.7 million.
• Insider selling activity included vice presidents John W. Schlosser and Sital K. Mody, who collectively sold over 51,000 shares of Kinder Morgan stock in August.
• Kinder Morgan recently declared a quarterly dividend of $0.2925 per share, reflecting a dividend yield of 4.4% and a payout ratio of 95.90%.

Public Sector Pension Investment Board decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 57.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 516,840 shares of the pipeline company's stock after selling 696,349 shares during the quarter. Public Sector Pension Investment Board's holdings in Kinder Morgan were worth $14,745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KMI. Sierra Ocean LLC increased its holdings in shares of Kinder Morgan by 927.1% during 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 during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Kinder Morgan in the 4th quarter valued at $26,000. Morse Asset Management Inc purchased a new position in Kinder Morgan in the 4th quarter valued at about $27,000. JNBA Financial Advisors boosted its position in Kinder Morgan by 669.2% in the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after buying an additional 870 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new position in Kinder Morgan in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 62.52% of the company's stock.

Insiders Place Their Bets

In related news, EVP Dax Sanders sold 30,127 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $27.05, for a total value of $814,935.35. Following the transaction, the executive vice president directly owned 292,000 shares in the company, valued at $7,898,600. This represents a 9.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP John W. Schlosser sold 6,166 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $27.80, for a total transaction of $171,414.80. Following the completion of the sale, the vice president owned 232,034 shares in the company, valued at approximately $6,450,545.20. This trade represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,842 shares of company stock valued at $3,896,180 over the last 90 days. Corporate insiders own 12.73% of the company's stock.

Kinder Morgan Stock Performance

Shares of NYSE:KMI traded down $0.16 on Friday, hitting $26.69. 13,657,267 shares of the company were exchanged, compared to its average volume of 14,655,043. The firm has a market capitalization of $59.31 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 3.38 and a beta of 0.78. The company's 50 day moving average price is $27.77 and its two-hundred day moving average price is $27.38. Kinder Morgan, Inc. has a one year low of $20.56 and a one year high of $31.48. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The firm had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The company's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 earnings per share. Research analysts expect that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be issued a $0.2925 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.17 annualized dividend and a yield of 4.4%. Kinder Morgan's dividend payout ratio (DPR) is currently 95.90%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on KMI shares. Royal Bank Of Canada raised their price objective on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 29th. TD Cowen initiated coverage on shares of Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating and a $34.00 target price on the stock. Barclays reissued an "overweight" rating and issued a $32.00 target price (up previously from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Scotiabank lifted their price target on Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company raised their price objective 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. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.20.

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.