Kinder Morgan, Inc. (NYSE:KMI) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.8% during the first quarter, HoldingsChannel.com reports. The firm owned 226,547 shares of the pipeline company’s stock after buying an additional 6,190 shares during the period. State of Alaska Department of Revenue’s holdings in Kinder Morgan were worth $6,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Morton Capital Management LLC CA raised its position in shares of Kinder Morgan by 1.0% in the 1st quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company’s stock valued at $1,084,000 after purchasing an additional 377 shares during the last quarter. Diligent Investors LLC increased its stake in Kinder Morgan by 1.5% during the 4th quarter. Diligent Investors LLC now owns 26,083 shares of the pipeline company’s stock valued at $715,000 after purchasing an additional 381 shares in the last quarter. Sowell Financial Services LLC raised its holdings in shares of Kinder Morgan by 0.5% in the first quarter. Sowell Financial Services LLC now owns 79,825 shares of the pipeline company’s stock worth $2,277,000 after buying an additional 400 shares during the last quarter. LRI Investments LLC lifted its stake in shares of Kinder Morgan by 9.6% during the fourth quarter. LRI Investments LLC now owns 4,946 shares of the pipeline company’s stock worth $136,000 after buying an additional 435 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Kinder Morgan by 0.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 165,727 shares of the pipeline company’s stock valued at $4,541,000 after acquiring an additional 440 shares during the period. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Price Performance

Shares of NYSE KMI opened at $27.57 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.45 and a quick ratio of 0.35. The stock has a market capitalization of $61.25 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 3.03 and a beta of 0.74. The firm’s 50 day simple moving average is $27.41 and its 200-day simple moving average is $27.43. Kinder Morgan, Inc. has a 12 month low of $19.47 and a 12 month high of $31.48.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, April 16th. The pipeline company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. Kinder Morgan had a net margin of 16.67% and a return on equity of 8.11%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.02 billion. Analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Wednesday, April 30th were paid a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend was Wednesday, April 30th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s payout ratio is currently 100.86%.

Wall Street Analyst Weigh In

KMI has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on Kinder Morgan from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Scotiabank raised their price objective on Kinder Morgan from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 5th. Wells Fargo & Company reiterated an “overweight” rating on shares of Kinder Morgan in a research report on Monday, May 5th. Barclays raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a research report on Monday, March 3rd. Finally, Royal Bank Of Canada lifted 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. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $30.21.

Insider Activity at Kinder Morgan

In related news, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $28.75, for a total value of $517,500.00. Following the sale, the president now owns 807,652 shares of the company’s stock, valued at approximately $23,219,995. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 54,000 shares of company stock worth $1,522,440 in the last 90 days. Corporate 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.