Pinnacle West Asset Management Inc. Buys 500 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Pinnacle West Asset Management Inc. raised its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 0.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 96,150 shares of the pipeline company’s stock after acquiring an additional 500 shares during the quarter. Kinder Morgan comprises 1.5% of Pinnacle West Asset Management Inc.’s holdings, making the stock its 19th biggest holding. Pinnacle West Asset Management Inc.’s holdings in Kinder Morgan were worth $2,124,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. SignalPoint Asset Management LLC raised its holdings in Kinder Morgan by 1.5% in the 3rd quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock valued at $655,000 after acquiring an additional 447 shares during the period. Trust Co. of Oklahoma raised its stake in Kinder Morgan by 1.5% in the 3rd quarter. Trust Co. of Oklahoma now owns 33,586 shares of the pipeline company’s stock worth $742,000 after purchasing an additional 486 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Kinder Morgan by 0.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock valued at $3,295,000 after purchasing an additional 530 shares during the period. Premier Path Wealth Partners LLC grew its position in shares of Kinder Morgan by 1.4% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock worth $785,000 after purchasing an additional 545 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Kinder Morgan by 4.4% in the second quarter. First Horizon Advisors Inc. now owns 13,415 shares of the pipeline company’s stock valued at $267,000 after buying an additional 566 shares in the last quarter. 62.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director C Park Shaper sold 690,142 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the sale, the director now owns 6,809,858 shares in the company, valued at approximately $168,543,985.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction 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 sale, the president now owns 916,773 shares of the company’s stock, valued at $19,261,400.73. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director C Park Shaper sold 690,142 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $24.75, for a total value of $17,081,014.50. Following the sale, the director now owns 6,809,858 shares in the company, valued at approximately $168,543,985.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 817,040 shares of company stock worth $19,747,879. 12.64% of the stock is owned by insiders.

Kinder Morgan Trading Up 0.6 %

Shares of NYSE:KMI traded up $0.16 during mid-day trading on Thursday, hitting $24.93. The company had a trading volume of 4,915,222 shares, compared to its average volume of 13,772,340. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The firm has a fifty day moving average price of $22.35 and a 200 day moving average price of $20.61. Kinder Morgan, Inc. has a one year low of $15.91 and a one year high of $25.43. The company has a market capitalization of $55.33 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93.

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 analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the business earned $0.25 EPS. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, research analysts forecast that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 annualized dividend and a dividend yield of 4.61%. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Analysts Set New Price Targets

A number of research firms recently commented on KMI. Stifel Nicolaus boosted their price target on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Scotiabank raised their target price 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. The Goldman Sachs Group reiterated a “conviction-buy” rating on shares of Kinder Morgan in a research report on Friday, October 18th. Bank of America initiated coverage on Kinder Morgan in a report on Thursday, October 17th. They set a “buy” rating and a $27.00 price target for the company. Finally, Barclays lifted their target price on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.91.

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.