Pinnacle Financial Partners Inc Acquires 1,824 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Pinnacle Financial Partners Inc increased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 67,744 shares of the pipeline company’s stock after buying an additional 1,824 shares during the period. Pinnacle Financial Partners Inc’s holdings in Kinder Morgan were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of KMI. Retirement Wealth Solutions LLC bought a new position in shares of Kinder Morgan during the fourth quarter valued at $25,000. Centricity Wealth Management LLC purchased a new stake in Kinder Morgan during the fourth quarter valued at $25,000. Modus Advisors LLC purchased a new stake in Kinder Morgan during the fourth quarter valued at $27,000. Heck Capital Advisors LLC purchased a new stake in Kinder Morgan during the fourth quarter valued at $29,000. Finally, Planning Capital Management Corp increased its position in Kinder Morgan by 143.6% during the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 797 shares during the last quarter. 62.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP John W. Schlosser sold 75,461 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.65, for a total transaction of $2,011,035.65. Following the completion of the transaction, the vice president now directly owns 220,681 shares of the company’s stock, valued at approximately $5,881,148.65. This represents a 25.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Thomas A. Martin sold 18,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $27.91, for a total value of $502,380.00. Following the transaction, the president now directly owns 861,652 shares of the company’s stock, valued at approximately $24,048,707.32. The trade was a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 129,461 shares of company stock worth $3,504,136. 12.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company upped their price objective on Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group upped their price objective on Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Barclays upped their price objective on Kinder Morgan from $27.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Mizuho upped their price objective on Kinder Morgan from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Scotiabank initiated coverage on Kinder Morgan in a research report on Friday, January 10th. They issued a “sector perform” rating and a $26.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.14.

Kinder Morgan Stock Performance

NYSE:KMI opened at $26.41 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94. Kinder Morgan, Inc. has a 12-month low of $17.02 and a 12-month high of $31.48. The stock has a 50-day moving average price of $27.77 and a 200 day moving average price of $25.33. The stock has a market capitalization of $58.67 billion, a P/E ratio of 22.57, a P/E/G ratio of 3.08 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Monday, February 3rd. Kinder Morgan’s dividend payout ratio is currently 98.29%.

Kinder Morgan 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.