Camden National Bank Lowers Stake in Kinder Morgan, Inc. (NYSE:KMI)

Camden National Bank lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 361,963 shares of the pipeline company’s stock after selling 8,917 shares during the period. Camden National Bank’s holdings in Kinder Morgan were worth $7,996,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Kinder Morgan by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,591,311 shares of the pipeline company’s stock worth $101,422,000 after purchasing an additional 29,861 shares during the period. Global Retirement Partners LLC boosted its position in Kinder Morgan by 3.5% in the 3rd quarter. Global Retirement Partners LLC now owns 22,813 shares of the pipeline company’s stock valued at $504,000 after buying an additional 776 shares during the period. Principal Financial Group Inc. boosted its position in Kinder Morgan by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,291,704 shares of the pipeline company’s stock valued at $50,624,000 after buying an additional 71,984 shares during the period. Czech National Bank boosted its position in Kinder Morgan by 6.9% in the 3rd quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock valued at $8,689,000 after buying an additional 25,406 shares during the period. Finally, Valley National Advisers Inc. boosted its position in Kinder Morgan by 1,512.7% in the 3rd quarter. Valley National Advisers Inc. now owns 88,583 shares of the pipeline company’s stock valued at $1,956,000 after buying an additional 83,090 shares during the period. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. UBS Group raised their price objective on shares of Kinder Morgan from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 15th. Royal Bank of Canada raised their price objective on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. Barclays raised their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Wells Fargo & Company raised their price objective on shares of Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Morgan Stanley set a $26.00 price objective on shares of Kinder Morgan in a report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.36.

Insider Buying and Selling at Kinder Morgan

In other news, Director Amy W. Chronis bought 2,241 shares of the stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $24.89 per share, with a total value of $55,778.49. Following the completion of the acquisition, the director now directly owns 23,995 shares in the company, valued at approximately $597,235.55. The trade was a 10.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Thomas A. Martin sold 19,121 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total transaction of $502,499.88. Following the sale, the president now directly owns 897,652 shares in the company, valued at approximately $23,590,294.56. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by company insiders.

Kinder Morgan Trading Down 0.2 %

NYSE KMI opened at $28.49 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. The firm has a market cap of $63.29 billion, a PE ratio of 24.99, a P/E/G ratio of 4.11 and a beta of 0.91. Kinder Morgan, Inc. has a one year low of $16.47 and a one year high of $28.81. The firm’s fifty day moving average is $24.56 and its two-hundred day moving average is $21.80.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Analysts expect that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.2875 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.04%. Kinder Morgan’s dividend payout ratio is presently 100.88%.

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.