AGF Investments Inc. Makes New $5.52 Million Investment in Kinder Morgan Inc (NYSE:KMI)

AGF Investments Inc. purchased a new position in shares of Kinder Morgan Inc (NYSE:KMI) during the first quarter, Holdings Channel reports. The fund purchased 396,582 shares of the pipeline company’s stock, valued at approximately $5,520,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Commerce Bank raised its stake in shares of Kinder Morgan by 4.7% in the first quarter. Commerce Bank now owns 88,022 shares of the pipeline company’s stock valued at $1,225,000 after acquiring an additional 3,961 shares in the last quarter. Hancock Whitney Corp raised its stake in shares of Kinder Morgan by 21.2% in the first quarter. Hancock Whitney Corp now owns 11,438 shares of the pipeline company’s stock valued at $159,000 after acquiring an additional 2,004 shares in the last quarter. Alberta Investment Management Corp raised its stake in shares of Kinder Morgan by 116.9% in the first quarter. Alberta Investment Management Corp now owns 956,107 shares of the pipeline company’s stock valued at $13,309,000 after acquiring an additional 515,200 shares in the last quarter. ETRADE Capital Management LLC raised its stake in shares of Kinder Morgan by 33.8% in the first quarter. ETRADE Capital Management LLC now owns 167,912 shares of the pipeline company’s stock valued at $2,337,000 after acquiring an additional 42,408 shares in the last quarter. Finally, Bank of The West acquired a new stake in shares of Kinder Morgan in the first quarter valued at $295,000. Institutional investors own 62.75% of the company’s stock.

NYSE KMI opened at $15.41 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.55 and a debt-to-equity ratio of 0.94. Kinder Morgan Inc has a 52-week low of $9.42 and a 52-week high of $22.58. The business’s 50-day moving average price is $14.75 and its 200 day moving average price is $18.44. The firm has a market cap of $34.74 billion, a P/E ratio of 26.57, a P/E/G ratio of 7.14 and a beta of 1.04.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, April 22nd. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.03). Kinder Morgan had a return on equity of 6.24% and a net margin of 10.31%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.41 billion. During the same period in the prior year, the business earned $0.25 EPS. The business’s quarterly revenue was down 9.4% compared to the same quarter last year. As a group, analysts anticipate that Kinder Morgan Inc will post 0.72 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a dividend of $0.2625 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $1.05 dividend on an annualized basis and a dividend yield of 6.81%. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.25. Kinder Morgan’s dividend payout ratio (DPR) is currently 110.53%.

Several research firms recently commented on KMI. Bank of America raised Kinder Morgan from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, March 11th. Mizuho dropped their target price on Kinder Morgan from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Barclays raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a report on Tuesday, March 24th. Citigroup dropped their target price on Kinder Morgan from $21.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Co dropped their target price on Kinder Morgan from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.40.

In other news, Chairman Richard D. Kinder acquired 300,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average price of $20.72 per share, for a total transaction of $6,216,000.00. Following the completion of the transaction, the chairman now directly owns 243,439,120 shares in the company, valued at $5,044,058,566.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William A. Smith acquired 6,500 shares of Kinder Morgan stock in a transaction that occurred on Thursday, April 30th. The stock was purchased at an average price of $15.35 per share, with a total value of $99,775.00. Following the transaction, the director now owns 21,087 shares of the company’s stock, valued at $323,685.45. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,406,500 shares of company stock valued at $24,957,775. 14.19% of the stock is owned by insiders.

Kinder Morgan Profile

Kinder Morgan, Inc operates as an energy infrastructure company 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 and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.

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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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