Insider Buying: Kinder Morgan (NYSE:KMI) Chairman Buys $14,995,000.00 in Stock

Kinder Morgan, Inc. (NYSE:KMI) Chairman Richard Kinder purchased 500,000 shares of Kinder Morgan stock in a transaction dated Friday, November 6th. The stock was bought at an average cost of $29.99 per share, with a total value of $14,995,000.00. Following the completion of the purchase, the chairman owned 246,712,353 shares in the company, valued at approximately $7,398,903,466.47. This trade represents a 0.20% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Kinder Morgan Price Performance

Shares of NYSE:KMI opened at $29.98 on Monday. Kinder Morgan, Inc. has a 12 month low of $26.03 and a 12 month high of $34.81. The stock has a market cap of $66.80 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.09 and a beta of 0.58. The stock’s 50 day moving average price is $32.08 and its 200 day moving average price is $32.12. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.55.

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

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a dividend of $0.2975 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.19 annualized dividend and a yield of 4.0%. Kinder Morgan’s dividend payout ratio is currently 73.46%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley dropped their price target on Kinder Morgan from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 3rd. Royal Bank Of Canada raised their price objective on Kinder Morgan from $36.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 28th. Melius Research began coverage on Kinder Morgan in a report on Tuesday, September 22nd. They issued a “buy” rating and a $38.00 target price on the stock. Weiss Ratings lowered Kinder Morgan from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their target price on Kinder Morgan from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Kinder Morgan presently has an average rating of “Moderate Buy” and a consensus target price of $37.15.

Hedge Funds Weigh In On Kinder Morgan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KMI. Ibex Wealth Advisors grew its stake in Kinder Morgan by 1.5% in the 3rd quarter. Ibex Wealth Advisors now owns 577,070 shares of the pipeline company’s stock valued at $17,399,000 after buying an additional 8,693 shares during the last quarter. Vista Capital Partners Inc. acquired a new position in Kinder Morgan during the 3rd quarter worth $243,000. 10Elms LLP lifted its position in Kinder Morgan by 7.2% during the 3rd quarter. 10Elms LLP now owns 7,478 shares of the pipeline company’s stock worth $225,000 after acquiring an additional 500 shares during the last quarter. Financial Freedom LLC bought a new stake in Kinder Morgan during the third quarter valued at about $42,000. Finally, Allworth Financial LP boosted its holdings in Kinder Morgan by 202.8% during the third quarter. Allworth Financial LP now owns 347,021 shares of the pipeline company’s stock valued at $11,094,000 after acquiring an additional 232,420 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

About Kinder Morgan

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.