Spinnaker Trust Cuts Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Spinnaker Trust decreased its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 16.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,805 shares of the pipeline company's stock after selling 22,766 shares during the period. Spinnaker Trust's holdings in Kinder Morgan were worth $3,247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KMI. Vanguard Group Inc. grew its stake in shares of Kinder Morgan by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 202,846,078 shares of the pipeline company's stock worth $5,557,983,000 after acquiring an additional 1,469,759 shares during the period. Geode Capital Management LLC increased its position in shares of Kinder Morgan by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 51,759,844 shares of the pipeline company's stock valued at $1,414,813,000 after purchasing an additional 1,252,609 shares during the last quarter. Norges Bank bought a new position in shares of Kinder Morgan in the 4th quarter worth approximately $917,523,000. Northern Trust Corp boosted its holdings in shares of Kinder Morgan by 8.3% in the fourth quarter. Northern Trust Corp now owns 20,942,841 shares of the pipeline company's stock worth $573,834,000 after buying an additional 1,608,499 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Kinder Morgan by 16.8% during the fourth quarter. Deutsche Bank AG now owns 14,711,722 shares of the pipeline company's stock valued at $403,101,000 after buying an additional 2,116,576 shares during the period. 62.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kinder Morgan

In related news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $28.26, for a total value of $508,680.00. Following the transaction, the president owned 771,652 shares in the company, valued at approximately $21,806,885.52. This represents a 2.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.73% of the company's stock.

Kinder Morgan Stock Up 0.3%

Shares of KMI traded up $0.09 during mid-day trading on Wednesday, hitting $28.42. The company's stock had a trading volume of 8,488,458 shares, compared to its average volume of 13,957,900. The firm has a market capitalization of $63.14 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 3.23 and a beta of 0.75. 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 52-week low of $19.47 and a 52-week high of $31.48. The company's 50-day moving average is $27.71 and its 200-day moving average is $27.50.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.02 billion. Kinder Morgan had a net margin of 16.67% and a return on equity of 8.11%. On average, equities research analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were given a dividend of $0.2925 per share. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.17 dividend on an annualized basis and a yield of 4.12%. This is a boost from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's payout ratio is currently 100.86%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on KMI shares. Barclays reiterated an "overweight" rating and set a $32.00 price target (up previously from $31.00) on shares of Kinder Morgan in a research note on Monday, June 23rd. Wells Fargo & Company reiterated an "overweight" rating on shares of Kinder Morgan in a research note on Monday, May 5th. Royal Bank Of Canada lifted their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. increased their price objective on shares of Kinder Morgan from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Scotiabank lifted their target price on shares of Kinder Morgan from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Kinder Morgan has a consensus rating of "Moderate Buy" and an average price target of $30.29.

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.