Retirement Systems of Alabama increased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 295.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,683,356 shares of the pipeline company's stock after buying an additional 1,257,428 shares during the period. Retirement Systems of Alabama owned 0.08% of Kinder Morgan worth $37,185,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of KMI. Northwest Investment Counselors LLC bought a new position in shares of Kinder Morgan in the 3rd quarter worth $28,000. HWG Holdings LP acquired a new position in Kinder Morgan in the second quarter valued at about $30,000. Planning Capital Management Corp grew its position in shares of Kinder Morgan by 143.6% during the 3rd quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company's stock worth $30,000 after buying an additional 797 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Kinder Morgan in the 2nd quarter valued at about $31,000. Finally, HM Payson & Co. raised its position in shares of Kinder Morgan by 401.8% in the 3rd quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 1,145 shares during the period. 62.52% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently weighed in on KMI. Barclays lifted their price target on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, November 4th. UBS Group boosted their target price on Kinder Morgan from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Morgan Stanley set a $26.00 price target on Kinder Morgan in a research report on Friday, October 18th. Bank of America began coverage on Kinder Morgan in a research report on Thursday, October 17th. They issued a "buy" rating and a $27.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on shares of Kinder Morgan from $22.00 to $27.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.
Get Our Latest Analysis on Kinder Morgan
Shares of KMI opened at $26.89 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a 12 month low of $16.47 and a 12 month high of $28.81. The firm has a fifty day simple moving average of $26.17 and a 200 day simple moving average of $22.66. The stock has a market capitalization of $59.74 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 3.88 and a beta of 0.95.
Kinder Morgan (NYSE:KMI - Get Free Report) last released its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The business's revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 EPS. Research analysts forecast that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.2875 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.28%. Kinder Morgan's payout ratio is 100.88%.
In other Kinder Morgan news, Director Amy W. Chronis purchased 2,241 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the purchase, the director now owns 23,995 shares in the company, valued at approximately $597,235.55. The trade was a 10.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 18,000 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $27.34, for a total transaction of $492,120.00. Following the completion of the transaction, the president now owns 879,652 shares in the company, valued at approximately $24,049,685.68. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 727,263 shares of company stock worth $18,075,634 over the last quarter. 12.64% of the stock is currently owned by insiders.
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.
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