Key Points
- Chairman Richard Kinder bought 500,000 Kinder Morgan shares at an average $29.99 apiece, investing nearly $15 million and increasing his stake by 0.20% to about 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 declared a quarterly dividend of $0.2975 per share, equivalent to an annualized $1.19 and a 4.0% yield; analysts’ consensus rating is “Moderate Buy.”
Kinder Morgan, Inc. (NYSE:KMI - Get Free Report) Chairman Richard Kinder acquired 500,000 shares of the company's stock in a transaction on Friday, November 6th. The stock was bought at an average price of $29.99 per share, for a total transaction of $14,995,000.00. Following the purchase, the chairman owned 246,712,353 shares in the company, valued at approximately $7,398,903,466.47. This trade represents a 0.20% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Kinder Morgan Price Performance
Shares of NYSE:KMI opened at $29.98 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.95. The stock's fifty day simple moving average is $32.08 and its two-hundred day simple moving average is $32.12. The stock has a market cap of $66.80 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.28 and a beta of 0.58. Kinder Morgan, Inc. has a 1-year low of $26.03 and a 1-year high of $34.81.
Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. The company 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 firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 EPS. As a group, analysts forecast that Kinder Morgan, Inc. will post 1.57 EPS for the current fiscal year.
Kinder Morgan Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a $0.2975 dividend. This represents a $1.19 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, November 2nd. Kinder Morgan's payout ratio is 73.46%.
Institutional Trading of Kinder Morgan
A number of institutional investors and hedge funds have recently bought and sold shares of KMI. Ontario Teachers Pension Plan Board acquired a new position in shares of Kinder Morgan in the 2nd quarter valued at $239,397,000. State Street Corp raised its stake in shares of Kinder Morgan by 4.3% in the 2nd quarter. State Street Corp now owns 130,863,419 shares of the pipeline company's stock valued at $4,183,704,000 after acquiring an additional 5,361,578 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Kinder Morgan by 220.9% during the second quarter. Assenagon Asset Management S.A. now owns 3,915,696 shares of the pipeline company's stock worth $125,185,000 after purchasing an additional 2,695,654 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Kinder Morgan by 253.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,994,968 shares of the pipeline company's stock worth $100,421,000 after purchasing an additional 2,146,573 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Kinder Morgan by 1.1% during the second quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company's stock valued at $5,621,421,000 after buying an additional 1,875,143 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.
Wall Street Analyst Weigh In
KMI has been the topic of a number of analyst reports. Citigroup raised their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, October 23rd. UBS Group reissued a "buy" rating on shares of Kinder Morgan in a research note on Tuesday, October 27th. Argus raised their target price on shares of Kinder Morgan from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Stifel Nicolaus began coverage on Kinder Morgan in a research report on Wednesday, September 9th. They set a "hold" rating and a $35.00 target price on the stock. Finally, Weiss Ratings raised Kinder Morgan from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, October 23rd. Twelve research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.15.
Read Our Latest Report on Kinder Morgan
About Kinder Morgan
(
Get Free Report)
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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