Kinder Morgan (NYSE:KMI) Chairman Richard Kinder Purchases 500,000 Shares of Company Stock

Key Points

• Chairman Richard Kinder bought 500,000 Kinder Morgan shares at an average price of $29.99, spending about $15 million and increasing his stake by 0.20% to roughly 246.7 million shares.
• Kinder Morgan beat quarterly estimates, reporting EPS of $0.35 versus $0.33 expected and revenue of $4.53 billion, up 9.3% year over year.
• The company’s quarterly dividend is $0.2975 per share, equivalent to $1.19 annually and a 4.0% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $37.15.

Kinder Morgan, Inc. (NYSE:KMI - Get Free Report) Chairman Richard Kinder acquired 500,000 shares of Kinder Morgan stock in a transaction on Friday, November 6th. The stock was purchased at an average price of $29.99 per share, with a total value of $14,995,000.00. Following the purchase, the chairman owned 246,712,353 shares of the company's stock, valued at $7,398,903,466.47. The trade was a 0.20% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Kinder Morgan Stock Performance

Shares of KMI stock traded down $0.21 during trading hours on Friday, hitting $29.98. The stock had a trading volume of 11,582,076 shares, compared to its average volume of 12,484,691. The firm has a market capitalization of $66.80 billion, a PE ratio of 18.51, a PEG ratio of 2.20 and a beta of 0.58. Kinder Morgan, Inc. has a twelve month low of $26.03 and a twelve month high of $34.81. The stock's 50 day moving average is $32.11 and its 200 day moving average is $32.11. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.55.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its earnings results on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.37 billion. Kinder Morgan had a net margin of 19.64% and a return on equity of 10.84%. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. As a group, research analysts forecast that Kinder Morgan, Inc. will post 1.57 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be given a dividend of $0.2975 per share. This represents a $1.19 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, November 2nd. Kinder Morgan's dividend payout ratio (DPR) is presently 73.46%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KMI shares. Morgan Stanley reduced their target price on shares of Kinder Morgan from $40.00 to $39.00 and set an "equal weight" rating for the company in a report on Tuesday. BMO Capital Markets increased their target price on shares of Kinder Morgan from $36.00 to $37.00 and gave the stock an "outperform" rating in a research note on Thursday, October 22nd. Stifel Nicolaus assumed coverage on Kinder Morgan in a report on Wednesday, September 9th. They set a "hold" rating and a $35.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Kinder Morgan from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Monday. Finally, TD Cowen upped their price objective on Kinder Morgan from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Kinder Morgan by 1.1% in the second quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company's stock valued at $5,621,421,000 after acquiring an additional 1,875,143 shares during the period. State Street Corp raised its position in shares of Kinder Morgan by 4.3% during the 2nd quarter. State Street Corp now owns 130,863,419 shares of the pipeline company's stock worth $4,183,704,000 after purchasing an additional 5,361,578 shares during the period. Bank of America Corp DE raised its position in shares of Kinder Morgan by 1.4% during the 1st quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company's stock worth $2,079,477,000 after purchasing an additional 836,571 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Kinder Morgan by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 17,237,384 shares of the pipeline company's stock worth $577,998,000 after purchasing an additional 448,130 shares during the period. Finally, Amundi lifted its holdings in shares of Kinder Morgan by 5.8% in the 1st quarter. Amundi now owns 15,130,700 shares of the pipeline company's stock worth $507,332,000 after purchasing an additional 831,125 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Kinder Morgan Company Profile

Kinder Morgan, Inc NYSE: KMI is an energy infrastructure company that transports and stores natural gas, crude oil, refined petroleum products and other energy-related commodities. Its assets include pipelines, terminals and storage facilities serving energy producers, utilities, industrial customers and other markets across the United States and Canada.

The company's operations include natural gas transportation and storage, refined-products and crude-oil pipelines, bulk and liquids terminals, and carbon dioxide transportation.

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