Harvest Portfolios Group Inc. Raises Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Harvest Portfolios Group Inc. grew its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 0.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 262,704 shares of the pipeline company’s stock after acquiring an additional 1,367 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Kinder Morgan were worth $5,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC boosted its position in Kinder Morgan by 3.5% in the third quarter. Global Retirement Partners LLC now owns 22,813 shares of the pipeline company’s stock worth $504,000 after purchasing an additional 776 shares during the last quarter. Czech National Bank boosted its holdings in shares of Kinder Morgan by 6.9% in the third quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock worth $8,689,000 after buying an additional 25,406 shares during the last quarter. Valley National Advisers Inc. increased its holdings in Kinder Morgan by 1,512.7% during the third quarter. Valley National Advisers Inc. now owns 88,583 shares of the pipeline company’s stock valued at $1,956,000 after buying an additional 83,090 shares during the last quarter. LSV Asset Management bought a new position in Kinder Morgan in the first quarter worth approximately $8,818,000. Finally, Duality Advisers LP boosted its stake in shares of Kinder Morgan by 42.7% during the 1st quarter. Duality Advisers LP now owns 317,425 shares of the pipeline company’s stock worth $5,822,000 after acquiring an additional 94,984 shares during the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Stock Performance

Shares of NYSE:KMI opened at $25.21 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $56.01 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91. The firm has a 50 day moving average of $22.97 and a 200 day moving average of $21.04. Kinder Morgan, Inc. has a 52 week low of $16.17 and a 52 week high of $25.43.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. On average, sell-side analysts predict that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.2875 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.56%. Kinder Morgan’s dividend payout ratio is currently 100.88%.

Analysts Set New Price Targets

KMI has been the subject of several analyst reports. UBS Group raised their target price on Kinder Morgan from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barclays raised their price objective on Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday. Wells Fargo & Company increased their price objective on shares of Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Scotiabank upped their target price on shares of Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Finally, Bank of America started coverage on Kinder Morgan in a research report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.09.

Insiders Place Their Bets

In other news, Director C Park Shaper sold 690,142 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the sale, the director now owns 6,809,858 shares in the company, valued at $168,543,985.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Park Shaper sold 690,142 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the transaction, the director now owns 6,809,858 shares in the company, valued at $168,543,985.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by insiders.

About Kinder Morgan

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.