Miracle Mile Advisors LLC Has $348,000 Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Miracle Mile Advisors LLC grew its stake in Kinder Morgan, Inc. (NYSE:KMI) by 6.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,215 shares of the pipeline company’s stock after buying an additional 729 shares during the period. Miracle Mile Advisors LLC’s holdings in Kinder Morgan were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Charter Oak Capital Management LLC acquired a new stake in shares of Kinder Morgan in the first quarter worth about $217,000. Wedmont Private Capital increased its stake in shares of Kinder Morgan by 1.9% in the first quarter. Wedmont Private Capital now owns 34,469 shares of the pipeline company’s stock worth $912,000 after purchasing an additional 655 shares during the period. UMB Bank n.a. increased its stake in shares of Kinder Morgan by 8.8% in the first quarter. UMB Bank n.a. now owns 229,278 shares of the pipeline company’s stock worth $6,541,000 after purchasing an additional 18,633 shares during the period. Tower Wealth Partners Inc. bought a new position in shares of Kinder Morgan in the first quarter worth about $210,000. Finally, KRS Capital Management LLC increased its stake in shares of Kinder Morgan by 3.8% in the first quarter. KRS Capital Management LLC now owns 14,306 shares of the pipeline company’s stock worth $408,000 after purchasing an additional 521 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

KMI has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price objective on Kinder Morgan from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, June 3rd. Barclays upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on Kinder Morgan from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Wells Fargo & Company restated an “overweight” rating on shares of Kinder Morgan in a research note on Monday, May 5th. Finally, Scotiabank boosted their price target on Kinder Morgan from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Thursday, June 5th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.21.

Insider Buying and Selling

In related news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $27.57, for a total transaction of $496,260.00. Following the sale, the president now directly owns 789,652 shares in the company, valued at $21,770,705.64. This represents a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 54,000 shares of company stock worth $1,522,440 in the last three months. Insiders own 12.73% of the company’s stock.

Kinder Morgan Trading Down 0.5%

Shares of KMI opened at $27.40 on Wednesday. Kinder Morgan, Inc. has a 1 year low of $19.47 and a 1 year high of $31.48. The company has a current ratio of 0.49, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94. The stock has a 50 day simple moving average of $27.14 and a 200-day simple moving average of $27.45. The stock has a market cap of $60.87 billion, a PE ratio of 23.41, a PEG ratio of 3.08 and a beta of 0.74.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.02 billion. On average, sell-side analysts predict that Kinder Morgan, Inc. will post 1.25 EPS 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 given a dividend of $0.2925 per share. 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. This represents a $1.17 dividend on an annualized basis and a yield of 4.27%. Kinder Morgan’s dividend payout ratio is 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.