Old North State Trust LLC Boosts Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Old North State Trust LLC grew its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 6.2% in the third quarter, Holdings Channel reports. The institutional investor owned 22,143 shares of the pipeline company’s stock after purchasing an additional 1,300 shares during the period. Old North State Trust LLC’s holdings in Kinder Morgan were worth $489,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KMI. Northwest Investment Counselors LLC purchased a new position in shares of Kinder Morgan in the 3rd quarter valued at $28,000. HWG Holdings LP purchased a new stake in shares of Kinder Morgan in the 2nd quarter valued at about $30,000. Planning Capital Management Corp boosted its position in shares of Kinder Morgan by 143.6% in the 3rd quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 797 shares during the period. Strategic Financial Concepts LLC purchased a new position in Kinder Morgan during the 2nd quarter worth approximately $31,000. Finally, HM Payson & Co. lifted its stake in Kinder Morgan by 401.8% in the third quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock valued at $32,000 after buying an additional 1,145 shares during the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.

Kinder Morgan Price Performance

Shares of NYSE:KMI opened at $26.90 on Friday. Kinder Morgan, Inc. has a 12 month low of $16.47 and a 12 month high of $28.81. The firm has a market capitalization of $59.76 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 3.88 and a beta of 0.95. The business’s 50 day simple moving average is $26.10 and its 200-day simple moving average is $22.60. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). The firm 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 firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. As a group, equities analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a dividend of $0.2875 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.28%. Kinder Morgan’s dividend payout ratio is currently 100.88%.

Wall Street Analysts Forecast Growth

KMI has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their price objective on shares of Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. UBS Group increased their target price on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. The Goldman Sachs Group boosted their price target on Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Bank of America assumed coverage on Kinder Morgan in a research note on Thursday, October 17th. They issued a “buy” rating and a $27.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.75.

Insider Activity at Kinder Morgan

In related news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $27.34, for a total transaction of $492,120.00. Following the sale, the president now owns 879,652 shares of the company’s stock, valued at $24,049,685.68. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy W. Chronis bought 2,241 shares of Kinder Morgan stock in a transaction on Tuesday, November 5th. The stock was purchased at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the acquisition, the director now owns 23,995 shares in the company, valued at $597,235.55. This represents a 10.30 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 727,263 shares of company stock valued at $18,075,634. 12.64% of the stock is owned by corporate insiders.

Kinder Morgan 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.