Precedent Wealth Partners LLC Buys 10,799 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Precedent Wealth Partners LLC lifted its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 18.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,611 shares of the pipeline company’s stock after acquiring an additional 10,799 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Kinder Morgan were worth $1,986,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in Kinder Morgan in the fourth quarter worth $25,000. Hurley Capital LLC bought a new position in Kinder Morgan in the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new stake in Kinder Morgan during the 4th quarter valued at about $26,000. Morse Asset Management Inc purchased a new stake in Kinder Morgan during the 4th quarter valued at about $27,000. Finally, Heck Capital Advisors LLC purchased a new stake in Kinder Morgan during the 4th quarter valued at about $29,000. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Down 0.2%

NYSE KMI opened at $27.61 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average of $27.28 and a two-hundred day moving average of $27.43. The firm has a market capitalization of $61.34 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 3.08 and a beta of 0.74. Kinder Morgan, Inc. has a 52 week low of $19.47 and a 52 week high of $31.48.

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

Kinder Morgan Increases Dividend

The business also recently declared 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 was Wednesday, April 30th. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.29. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.24%. Kinder Morgan’s dividend payout ratio is presently 100.86%.

Insider Transactions at Kinder Morgan

In other news, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction dated 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 now directly owns 771,652 shares in the company, valued at approximately $21,806,885.52. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 54,000 shares of company stock worth $1,522,440. Insiders own 12.73% of the company’s stock.

Wall Street Analysts Forecast Growth

KMI has been the topic of a number of recent analyst reports. Scotiabank raised their price target on shares of Kinder Morgan from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Wells Fargo & Company reiterated an “overweight” rating on shares of Kinder Morgan in a research note on Monday, May 5th. 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. Stifel Nicolaus raised their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, June 3rd. Finally, Barclays upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research note on Monday, March 3rd. 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.com, Kinder Morgan has a consensus rating of “Moderate Buy” and an average target price of $30.21.

About Kinder Morgan

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.