Bank of Montreal Can Lowers Position in Kinder Morgan, Inc. (NYSE:KMI)

Bank of Montreal Can reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,321,682 shares of the pipeline company’s stock after selling 484,066 shares during the period. Bank of Montreal Can owned approximately 0.33% of Kinder Morgan worth $147,239,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Kinder Morgan by 15.8% during the 1st quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock worth $3,665,963,000 after acquiring an additional 27,254,172 shares in the last quarter. Confluence Investment Management LLC bought a new position in Kinder Morgan during the first quarter valued at $87,627,000. Castle Hook Partners LP grew its stake in shares of Kinder Morgan by 108.2% in the 1st quarter. Castle Hook Partners LP now owns 7,799,826 shares of the pipeline company’s stock worth $143,049,000 after buying an additional 4,053,793 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of Kinder Morgan by 45.9% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock worth $182,665,000 after buying an additional 3,135,457 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Kinder Morgan by 23.6% during the 1st quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock valued at $204,319,000 after buying an additional 2,125,648 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

KMI has been the subject of several recent research reports. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Friday, July 19th. Morgan Stanley raised Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 target price on the stock in a research report on Monday, September 16th. Royal Bank of Canada raised their price target on Kinder Morgan from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 30th. UBS Group increased their target price on shares of Kinder Morgan from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Barclays lifted their price target on shares of Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.55.

Kinder Morgan Trading Up 1.8 %

Shares of NYSE KMI opened at $22.18 on Tuesday. Kinder Morgan, Inc. has a twelve month low of $15.89 and a twelve month high of $22.20. The firm has a market cap of $49.23 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.90 and a beta of 0.93. The business has a fifty day simple moving average of $21.20 and a two-hundred day simple moving average of $19.77. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $4.13 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Analysts expect that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 5.18%. The ex-dividend date was Wednesday, July 31st. Kinder Morgan’s payout ratio is 104.55%.

Insider Activity

In related news, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the transaction, the president now owns 916,773 shares in the company, valued at approximately $19,261,400.73. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Sital K. Mody sold 25,169 shares of Kinder Morgan stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.04, for a total transaction of $529,555.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Thomas A. Martin sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the transaction, the president now owns 916,773 shares in the company, valued at approximately $19,261,400.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,311 shares of company stock worth $3,121,891. Corporate insiders own 12.64% of the company’s stock.

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.