DAVENPORT & Co LLC Has $7.36 Million Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

DAVENPORT & Co LLC increased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 18.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 258,000 shares of the pipeline company’s stock after purchasing an additional 39,827 shares during the period. DAVENPORT & Co LLC’s holdings in Kinder Morgan were worth $7,361,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Kinder Morgan in the 4th quarter valued at $917,523,000. Raymond James Financial Inc. acquired a new stake in Kinder Morgan in the fourth quarter worth $157,804,000. Assenagon Asset Management S.A. increased its stake in Kinder Morgan by 212.5% in the first quarter. Assenagon Asset Management S.A. now owns 5,468,235 shares of the pipeline company’s stock valued at $156,009,000 after purchasing an additional 3,718,521 shares in the last quarter. Blackstone Inc. raised its holdings in shares of Kinder Morgan by 435.0% during the fourth quarter. Blackstone Inc. now owns 4,358,263 shares of the pipeline company’s stock valued at $119,416,000 after purchasing an additional 3,543,670 shares during the period. Finally, Artisan Partners Limited Partnership bought a new position in shares of Kinder Morgan during the 4th quarter worth about $87,729,000. 62.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KMI. Scotiabank upped their price target on Kinder Morgan from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. boosted their price objective on Kinder Morgan from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Stifel Nicolaus increased their target price on Kinder Morgan from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, June 3rd. Wells Fargo & Company restated an “overweight” rating on shares of Kinder Morgan in a research note on Monday, May 5th. Finally, Barclays restated an “overweight” rating and set a $32.00 price objective (up previously from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.29.

Kinder Morgan Stock Up 0.6%

Kinder Morgan stock opened at $28.49 on Thursday. Kinder Morgan, Inc. has a fifty-two week low of $19.68 and a fifty-two week high of $31.48. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.35 and a current ratio of 0.45. The firm’s 50-day simple moving average is $27.74 and its 200 day simple moving average is $27.51. The stock has a market cap of $63.31 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 3.11 and a beta of 0.75.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.02 billion. Kinder Morgan had a return on equity of 8.11% and a net margin of 16.67%. Research analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th were paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Wednesday, April 30th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s dividend payout ratio is 100.86%.

Insider Activity

In other news, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total transaction of $508,680.00. Following the sale, the president directly owned 771,652 shares in the company, valued at $21,806,885.52. The trade was a 2.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.73% of the stock is currently owned by corporate insiders.

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.