Corigliano Investment Advisers LLC Acquires New Stake in Kinder Morgan, Inc. (NYSE:KMI)

Corigliano Investment Advisers LLC bought a new stake in Kinder Morgan, Inc. (NYSE:KMI) in the 4th quarter, Holdings Channel reports. The institutional investor bought 93,000 shares of the pipeline company’s stock, valued at approximately $2,548,000. Kinder Morgan accounts for about 1.2% of Corigliano Investment Advisers LLC’s investment portfolio, making the stock its 27th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Kinder Morgan by 39.9% in the third quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock valued at $180,833,000 after purchasing an additional 2,334,273 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Kinder Morgan by 44.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,142,956 shares of the pipeline company’s stock valued at $25,248,000 after buying an additional 349,158 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Kinder Morgan by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,291,704 shares of the pipeline company’s stock worth $50,624,000 after purchasing an additional 71,984 shares during the period. CWA Asset Management Group LLC grew its holdings in shares of Kinder Morgan by 6.0% during the 4th quarter. CWA Asset Management Group LLC now owns 63,099 shares of the pipeline company’s stock worth $1,729,000 after purchasing an additional 3,592 shares during the period. Finally, Fortem Financial Group LLC acquired a new stake in Kinder Morgan during the 4th quarter worth approximately $260,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Stock Up 1.4 %

KMI stock opened at $27.25 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94. The firm has a 50 day simple moving average of $27.00 and a 200-day simple moving average of $27.15. The company has a market capitalization of $60.54 billion, a P/E ratio of 23.29, a PEG ratio of 3.08 and a beta of 0.74. Kinder Morgan, Inc. has a twelve month low of $18.65 and a twelve month high of $31.48.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.02 billion. Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. On average, equities research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend is Wednesday, April 30th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s payout ratio is currently 100.86%.

Analyst Ratings Changes

Several research firms have issued reports on KMI. UBS Group boosted their price objective on shares of Kinder Morgan from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Barclays upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a report on Monday, March 3rd. Royal Bank of Canada boosted their price objective on Kinder Morgan from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 29th. JPMorgan Chase & Co. increased their target price on Kinder Morgan from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of Kinder Morgan in a research report on Monday. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.79.

Insiders Place Their Bets

In related news, President Thomas A. Martin sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $26.61, for a total value of $478,980.00. Following the sale, the president now owns 825,652 shares of the company’s stock, valued at approximately $21,970,599.72. This trade represents a 2.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP John W. Schlosser sold 75,461 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.65, for a total value of $2,011,035.65. Following the transaction, the vice president now owns 220,681 shares of the company’s stock, valued at approximately $5,881,148.65. The trade was a 25.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,461 shares of company stock valued at $3,007,516 over the last quarter. Insiders own 12.73% of the company’s stock.

Kinder Morgan Company 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.