Kinder Morgan, Inc. $KMI Stock: Illinois Municipal Retirement Fund Cuts Stake

Illinois Municipal Retirement Fund lessened its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 530,229 shares of the pipeline company’s stock after selling 19,566 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Kinder Morgan were worth $15,986,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Kinder Morgan by 1.1% in the second quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company’s stock worth $5,621,421,000 after buying an additional 1,875,143 shares in the last quarter. State Street Corp boosted its position in shares of Kinder Morgan by 4.3% in 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 acquiring an additional 5,361,578 shares during the period. Bank of America Corp DE boosted its position in shares of Kinder Morgan by 1.4% in the first 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 acquiring an additional 836,571 shares during the period. Dimensional Fund Advisors LP grew its stake in Kinder Morgan by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 17,237,384 shares of the pipeline company’s stock valued at $577,998,000 after acquiring an additional 448,130 shares in the last quarter. Finally, Amundi grew its stake in Kinder Morgan by 5.8% during the first quarter. Amundi now owns 15,130,700 shares of the pipeline company’s stock valued at $507,332,000 after acquiring an additional 831,125 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Chairman Richard D. Kinder bought 500,000 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average cost of $29.99 per share, for a total transaction of $14,995,000.00. Following the completion of the transaction, the chairman owned 246,712,353 shares of the company’s stock, valued at approximately $7,398,903,466.47. The trade was a 0.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael P. Garthwaite sold 1,550 shares of the company’s stock in a transaction on 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 owned 47,313 shares of the company’s stock, valued at $1,592,082.45. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 9,300 shares of company stock worth $292,098. 12.72% of the stock is currently owned by corporate insiders.

Kinder Morgan Stock Performance

Shares of KMI opened at $31.57 on Thursday. The company has a market cap of $70.32 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.17 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average price of $32.02 and a 200-day moving average price of $32.15. Kinder Morgan, Inc. has a 12-month low of $26.24 and a 12-month high of $34.81.

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

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a $0.2975 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.8%. Kinder Morgan’s dividend payout ratio is presently 73.46%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Mizuho upped their target price on shares of Kinder Morgan from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, October 22nd. Wells Fargo & Company raised their price target on shares of Kinder Morgan from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Royal Bank Of Canada boosted their price target on shares of Kinder Morgan from $36.00 to $38.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 28th. Capital One Financial began coverage on shares of Kinder Morgan in a research report on Tuesday, September 22nd. They set an “equal weight” rating and a $36.00 price target for the company. Finally, Freedom Broker raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and upped their price target for the stock from $34.00 to $39.00 in a report on Thursday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.15.

Kinder Morgan Company Profile

Kinder Morgan, Inc. (NYSE: KMI) is an energy infrastructure company that transports and stores natural gas, crude oil, refined petroleum products and other energy-related commodities. Its assets include pipelines, terminals and storage facilities serving energy producers, utilities, industrial customers and other markets across the United States and Canada. The company’s operations include natural gas transportation and storage, refined-products and crude-oil pipelines, bulk and liquids terminals, and carbon dioxide transportation.