Fifth Third Bancorp Buys 19,364 Shares of Kinder Morgan, Inc. $KMI

Fifth Third Bancorp raised its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 649,123 shares of the pipeline company’s stock after acquiring an additional 19,364 shares during the quarter. Fifth Third Bancorp’s holdings in Kinder Morgan were worth $19,571,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in KMI. BlackRock Inc. raised its stake 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 valued at $5,621,421,000 after acquiring an additional 1,875,143 shares during the last quarter. State Street Corp grew its position in Kinder Morgan by 4.3% during the 2nd quarter. State Street Corp now owns 130,863,419 shares of the pipeline company’s stock worth $4,183,704,000 after acquiring an additional 5,361,578 shares during the last quarter. Bank of America Corp DE increased its holdings in Kinder Morgan by 1.4% during 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 in the last quarter. Dimensional Fund Advisors LP raised its position in 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 last quarter. Finally, Amundi raised its position in Kinder Morgan by 5.8% in the 1st quarter. Amundi now owns 15,130,700 shares of the pipeline company’s stock valued at $507,332,000 after purchasing an additional 831,125 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on KMI. Wells Fargo & Company boosted their price objective on Kinder Morgan from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Weiss Ratings lowered Kinder Morgan from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, November 4th. Citigroup lifted their price target on Kinder Morgan from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. TD Cowen upped their price target on shares of Kinder Morgan from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Finally, Morgan Stanley decreased their price objective on shares of Kinder Morgan from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 3rd. Twelve 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 an average price target of $37.15.

Insider Activity

In related news, VP Michael P. Garthwaite sold 1,550 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The shares were 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 in the company, valued at approximately $1,592,082.45. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Richard D. Kinder acquired 500,000 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average price of $29.99 per share, with a total value of $14,995,000.00. Following the acquisition, the chairman owned 246,712,353 shares of the company’s stock, valued at approximately $7,398,903,466.47. This trade represents a 0.20% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 9,300 shares of company stock valued at $292,098 in the last ninety days. 12.72% of the stock is owned by insiders.

Kinder Morgan Trading Down 0.2%

KMI opened at $31.94 on Friday. The firm has a 50 day simple moving average of $32.03 and a 200 day simple moving average of $32.18. Kinder Morgan, Inc. has a fifty-two week low of $26.24 and a fifty-two week high of $34.81. The company has a market cap of $71.16 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 2.23 and a beta of 0.58. 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 announced its quarterly earnings data on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Kinder Morgan had a net margin of 19.64% and a return on equity of 10.84%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period last year, the firm earned $0.29 earnings per share. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.57 earnings per share for the current year.

Kinder Morgan Announces Dividend

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 paid 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 3.7%. Kinder Morgan’s dividend payout ratio is 73.46%.

Kinder Morgan 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.