Toronto Dominion Bank Sells 71,077 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Toronto Dominion Bank reduced its position in Kinder Morgan, Inc. (NYSE:KMI) by 9.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 698,159 shares of the pipeline company’s stock after selling 71,077 shares during the quarter. Toronto Dominion Bank’s holdings in Kinder Morgan were worth $19,130,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in Kinder Morgan during the 4th quarter worth approximately $25,000. Hurley Capital LLC acquired a new stake in Kinder Morgan during the 4th quarter worth approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in Kinder Morgan during the 4th quarter worth approximately $26,000. Morse Asset Management Inc acquired a new stake in Kinder Morgan during the 4th quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Kinder Morgan in the 4th quarter worth approximately $29,000. 62.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Scotiabank upped their price objective on shares of Kinder Morgan from $25.00 to $26.00 and gave the company a “sector perform” rating in a research note on Monday, April 21st. JPMorgan Chase & Co. upped their price objective on shares of Kinder Morgan from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Barclays raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research note on Monday, March 3rd. Royal Bank of Canada upped their price objective on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 29th. Finally, Citigroup increased their target price on shares of Kinder Morgan from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Kinder Morgan presently has an average rating of “Moderate Buy” and a consensus price target of $29.79.

Kinder Morgan Stock Up 1.1%

Kinder Morgan stock opened at $28.18 on Wednesday. Kinder Morgan, Inc. has a 1-year low of $18.83 and a 1-year high of $31.48. The firm has a market capitalization of $62.62 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 3.08 and a beta of 0.74. The firm’s fifty day moving average price is $27.22 and its two-hundred day moving average price is $27.42. The company has a current ratio of 0.49, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, April 16th. The pipeline company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.02 billion. Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. On average, equities research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a $0.2925 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.17 annualized dividend and a dividend yield of 4.15%. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s dividend payout ratio is currently 100.86%.

Insider Activity

In other news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $26.61, for a total value of $478,980.00. Following the completion of the sale, the president now owns 825,652 shares in the company, valued at $21,970,599.72. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 54,000 shares of company stock worth $1,492,740 over the last quarter. Insiders own 12.73% of the company’s stock.

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.