Insider Buying: Kinder Morgan (NYSE:KMI) Chairman Purchases 500,000 Shares of Company Stock

Kinder Morgan, Inc. (NYSE:KMI) Chairman Richard Kinder purchased 500,000 shares of the stock in a transaction dated Friday, November 6th. The shares were purchased at an average price of $29.99 per share, with a total value of $14,995,000.00. Following the transaction, the chairman directly owned 246,712,353 shares of the company’s stock, valued at approximately $7,398,903,466.47. The trade was a 0.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kinder Morgan Stock Performance

Shares of KMI stock traded down $0.21 during trading hours on Friday, reaching $29.98. The stock had a trading volume of 11,582,076 shares, compared to its average volume of 12,484,691. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.55. Kinder Morgan, Inc. has a twelve month low of $26.03 and a twelve month high of $34.81. The firm has a 50-day simple moving average of $32.11 and a 200-day simple moving average of $32.11. The firm has a market capitalization of $66.80 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.20 and a beta of 0.58.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.37 billion. Kinder Morgan had a net margin of 19.64% and a return on equity of 10.84%. Kinder Morgan’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $0.29 EPS. As a group, equities analysts forecast that Kinder Morgan, Inc. will post 1.57 earnings per share for the current year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a $0.2975 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.19 annualized dividend and a dividend yield of 4.0%. Kinder Morgan’s dividend payout ratio (DPR) is presently 73.46%.

Institutional Trading of Kinder Morgan

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its holdings in Kinder Morgan by 0.7% during the third quarter. Quadrant Capital Group LLC now owns 47,788 shares of the pipeline company’s stock worth $1,598,000 after purchasing an additional 309 shares in the last quarter. Laurel Wealth Advisors LLC lifted its position in Kinder Morgan by 3.6% in the third quarter. Laurel Wealth Advisors LLC now owns 9,068 shares of the pipeline company’s stock worth $273,000 after purchasing an additional 312 shares during the period. Klingman & Associates LLC boosted its stake in Kinder Morgan by 3.9% during the 1st quarter. Klingman & Associates LLC now owns 8,498 shares of the pipeline company’s stock valued at $285,000 after purchasing an additional 319 shares in the last quarter. Transamerica Financial Advisors LLC boosted its stake in Kinder Morgan by 72.9% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 778 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 328 shares in the last quarter. Finally, Abel Hall LLC boosted its stake in Kinder Morgan by 4.0% during the 1st quarter. Abel Hall LLC now owns 8,588 shares of the pipeline company’s stock valued at $288,000 after purchasing an additional 330 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KMI has been the subject of several analyst reports. Citigroup boosted their price objective on Kinder Morgan from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. UBS Group restated a “buy” rating on shares of Kinder Morgan in a research report on Tuesday, October 27th. Morgan Stanley cut their target price on Kinder Morgan from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Jefferies Financial Group boosted their price target on Kinder Morgan from $33.00 to $37.00 and gave the stock a “hold” rating in a research report on Thursday, October 22nd. Finally, Mizuho boosted their price target on Kinder Morgan from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.15.

Kinder Morgan Company Profile

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.