Praxis Investment Management Inc. Acquires 65,580 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Praxis Investment Management Inc. boosted its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 46.2% during the 1st quarter, Holdings Channel reports. The firm owned 207,480 shares of the pipeline company’s stock after buying an additional 65,580 shares during the period. Praxis Investment Management Inc.’s holdings in Kinder Morgan were worth $5,919,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on KMI. Barclays upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a report on Monday, March 3rd. Royal Bank Of Canada raised their price target on Kinder Morgan from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Tuesday, April 29th. Wells Fargo & Company restated an “overweight” rating on shares of Kinder Morgan in a report on Monday, May 5th. Scotiabank raised their price target on Kinder Morgan from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Finally, JPMorgan Chase & Co. raised their price target on Kinder Morgan from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Kinder Morgan presently has an average rating of “Moderate Buy” and an average price target of $30.21.

Insider Buying and Selling

In related news, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total value of $508,680.00. Following the completion of the transaction, the president now owns 771,652 shares of the company’s stock, valued at approximately $21,806,885.52. This represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 54,000 shares of company stock valued at $1,522,440. 12.73% of the stock is owned by company insiders.

Kinder Morgan Trading Up 1.6%

KMI opened at $28.01 on Friday. Kinder Morgan, Inc. has a 12 month low of $19.47 and a 12 month high of $31.48. The stock has a fifty day moving average price of $27.44 and a 200-day moving average price of $27.43. The company has a current ratio of 0.45, a quick ratio of 0.35 and a debt-to-equity ratio of 0.94. The firm has a market cap of $62.23 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.03 and a beta of 0.74.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Kinder Morgan had a return on equity of 8.11% and a net margin of 16.67%. As a group, equities research analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal 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 issued a $0.2925 dividend. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, April 30th. This represents a $1.17 dividend on an annualized basis and a yield of 4.18%. Kinder Morgan’s dividend payout ratio is presently 100.86%.

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.