Kinder Morgan, Inc. $KMI Stock: Rakuten Investment Management Inc. Boosts Holdings

Rakuten Investment Management Inc. increased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 9.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 347,271 shares of the pipeline company’s stock after acquiring an additional 30,885 shares during the period. Rakuten Investment Management Inc.’s holdings in Kinder Morgan were worth $10,574,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KMI. BlackRock Inc. lifted its stake in Kinder Morgan by 1.1% during the second quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company’s stock worth $5,621,421,000 after purchasing an additional 1,875,143 shares during the period. State Street Corp boosted its holdings in Kinder Morgan by 4.3% during the second quarter. State Street Corp now owns 130,863,419 shares of the pipeline company’s stock valued at $4,183,704,000 after purchasing an additional 5,361,578 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Kinder Morgan by 1.4% in the 1st quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company’s stock valued at $2,079,477,000 after purchasing an additional 836,571 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Kinder Morgan by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 17,237,384 shares of the pipeline company’s stock valued at $577,998,000 after purchasing an additional 448,130 shares during the period. Finally, Amundi raised its holdings in shares of Kinder Morgan by 5.8% in the 1st quarter. Amundi now owns 15,130,700 shares of the pipeline company’s stock worth $507,332,000 after buying an additional 831,125 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Price Performance

KMI opened at $30.24 on Friday. The company has a fifty day moving average price of $32.11 and a two-hundred day moving average price of $32.11. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.55 and a current ratio of 0.67. Kinder Morgan, Inc. has a 52 week low of $25.92 and a 52 week high of $34.81. The firm has a market capitalization of $67.37 billion, a PE ratio of 18.67, a P/E/G ratio of 2.20 and a beta of 0.58.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.37 billion. Kinder Morgan had a return on equity of 10.84% and a net margin of 19.64%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 EPS. As a group, analysts anticipate that Kinder Morgan, Inc. will post 1.57 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be issued a dividend of $0.2975 per share. This represents a $1.19 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, November 2nd. Kinder Morgan’s dividend payout ratio is 73.46%.

Insider Transactions at Kinder Morgan

In related news, VP Michael Garthwaite sold 1,550 shares of the stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $33.65, for a total transaction of $52,157.50. Following the completion of the transaction, the vice president directly owned 47,313 shares in the company, valued at approximately $1,592,082.45. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 12.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on KMI shares. Morgan Stanley dropped their price objective on Kinder Morgan from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Tuesday. Weiss Ratings upgraded shares of Kinder Morgan from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 23rd. Citigroup upped their target price on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Wells Fargo & Company increased their target price on shares of Kinder Morgan from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Finally, Capital One Financial assumed coverage on shares of Kinder Morgan in a research report on Tuesday, September 22nd. They set an “equal weight” rating and a $36.00 target price for the company. Twelve equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.15.

Kinder Morgan Company Profile

Kinder Morgan, Inc (NYSE: KMI) is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.

The company’s natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.