AGF Management Ltd. Trims Stock Holdings in Kinder Morgan, Inc. $KMI

AGF Management Ltd. lessened its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 16.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,450 shares of the pipeline company’s stock after selling 45,890 shares during the quarter. AGF Management Ltd.’s holdings in Kinder Morgan were worth $6,722,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in KMI. Norges Bank purchased a new stake in shares of Kinder Morgan during the second quarter worth about $1,162,802,000. Merewether Investment Management LP purchased a new position in shares of Kinder Morgan during the second quarter valued at approximately $138,477,000. 59 North Capital Management LP boosted its position in Kinder Morgan by 54.5% during the second quarter. 59 North Capital Management LP now owns 10,597,380 shares of the pipeline company’s stock worth $311,563,000 after acquiring an additional 3,739,398 shares during the last quarter. Marshall Wace LLP grew its stake in Kinder Morgan by 364.8% in the 2nd quarter. Marshall Wace LLP now owns 4,165,348 shares of the pipeline company’s stock worth $122,461,000 after acquiring an additional 3,269,284 shares during the period. Finally, Vanguard Group Inc. grew its stake in Kinder Morgan by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 207,219,481 shares of the pipeline company’s stock worth $6,092,253,000 after acquiring an additional 3,070,609 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Transactions at Kinder Morgan

In related news, Director William A. Smith bought 3,000 shares of the stock in a transaction dated Monday, February 2nd. The stock was acquired at an average price of $29.75 per share, for a total transaction of $89,250.00. Following the completion of the purchase, the director owned 31,087 shares in the company, valued at $924,838.25. This represents a 10.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $27.49, for a total value of $169,503.34. Following the sale, the vice president owned 201,204 shares in the company, valued at approximately $5,531,097.96. The trade was a 2.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,498 shares of company stock valued at $1,107,462 over the last quarter. Company insiders own 12.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KMI. Freedom Capital raised Kinder Morgan from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 28th. Scotiabank increased their target price on Kinder Morgan from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, January 23rd. Morgan Stanley reissued a “buy” rating on shares of Kinder Morgan in a research note on Friday. Mizuho dropped their price objective on shares of Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Finally, Jefferies Financial Group increased their price objective on shares of Kinder Morgan from $29.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, January 22nd. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and an average price target of $32.38.

Kinder Morgan Trading Up 2.3%

NYSE KMI opened at $30.31 on Wednesday. The firm has a market capitalization of $67.42 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 2.40 and a beta of 0.70. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.64. Kinder Morgan, Inc. has a one year low of $23.94 and a one year high of $30.57. The company’s 50 day moving average price is $27.71 and its 200 day moving average price is $27.32.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, January 21st. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Kinder Morgan had a net margin of 18.04% and a return on equity of 9.02%. The company had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, sell-side analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be given a $0.2925 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $1.17 annualized dividend and a yield of 3.9%. Kinder Morgan’s dividend payout ratio (DPR) is 85.40%.

Kinder Morgan Company Profile

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.