Assenagon Asset Management S.A. Raises Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Assenagon Asset Management S.A. lifted its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 30.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,007,857 shares of the pipeline company’s stock after purchasing an additional 932,469 shares during the period. Assenagon Asset Management S.A. owned about 0.18% of Kinder Morgan worth $88,534,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in shares of Kinder Morgan during the 3rd quarter worth approximately $28,000. HWG Holdings LP purchased a new position in shares of Kinder Morgan during the 2nd quarter worth approximately $30,000. ZRC Wealth Management LLC purchased a new position in shares of Kinder Morgan during the 3rd quarter worth approximately $36,000. Pathway Financial Advisers LLC purchased a new position in shares of Kinder Morgan during the 1st quarter worth approximately $30,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Kinder Morgan in the 1st quarter worth approximately $31,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on KMI. The Goldman Sachs Group reaffirmed a “conviction-buy” rating on shares of Kinder Morgan in a research note on Friday, October 18th. Stifel Nicolaus lifted their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Wells Fargo & Company lifted their price target 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. Bank of America began coverage on shares of Kinder Morgan in a report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Scotiabank lifted their price target on shares of Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.91.

Insiders Place Their Bets

In other Kinder Morgan news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the transaction, the director now owns 6,809,858 shares in the company, valued at $168,543,985.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the completion of the sale, the director now owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sital K. Mody sold 25,169 shares of the business’s 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 disclosure for this sale can be found here. Insiders have sold 817,040 shares of company stock worth $19,747,879 in the last quarter. 12.64% of the stock is owned by corporate insiders.

Kinder Morgan Stock Up 1.0 %

Shares of NYSE:KMI traded up $0.24 during midday trading on Thursday, hitting $25.01. 6,087,561 shares of the company’s stock traded hands, compared to its average volume of 13,778,031. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.37. The company has a market cap of $55.51 billion, a PE ratio of 22.68, a P/E/G ratio of 3.27 and a beta of 0.93. The firm’s fifty day moving average price is $22.35 and its two-hundred day moving average price is $20.61. Kinder Morgan, Inc. has a twelve month low of $15.91 and a twelve month high of $25.43.

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). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.2875 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.60%. Kinder Morgan’s dividend payout ratio is currently 104.55%.

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.