Pinnacle Holdings LLC Reduces Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Pinnacle Holdings LLC lessened its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,658 shares of the pipeline company’s stock after selling 469 shares during the period. Pinnacle Holdings LLC’s holdings in Kinder Morgan were worth $1,388,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KMI. Norges Bank purchased a new position in shares of Kinder Morgan during the fourth quarter valued at approximately $917,523,000. Raymond James Financial Inc. bought a new stake in Kinder Morgan in the fourth quarter valued at $157,804,000. Artisan Partners Limited Partnership purchased a new position in Kinder Morgan during the 4th quarter valued at $87,729,000. Amundi lifted its position in shares of Kinder Morgan by 28.9% in the 4th quarter. Amundi now owns 11,819,777 shares of the pipeline company’s stock worth $334,381,000 after purchasing an additional 2,650,040 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Kinder Morgan by 223.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,465,980 shares of the pipeline company’s stock valued at $94,968,000 after purchasing an additional 2,395,930 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.

Insider Buying and Selling

In related news, VP John W. Schlosser sold 75,461 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.65, for a total value of $2,011,035.65. Following the transaction, the vice president now owns 220,681 shares of the company’s stock, valued at approximately $5,881,148.65. This trade represents a 25.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $27.70, for a total transaction of $498,600.00. Following the sale, the president now directly owns 843,652 shares of the company’s stock, valued at approximately $23,369,160.40. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,461 shares of company stock valued at $3,506,116 over the last 90 days. Company insiders own 12.64% of the company’s stock.

Kinder Morgan Price Performance

NYSE KMI opened at $25.20 on Wednesday. Kinder Morgan, Inc. has a one year low of $17.61 and a one year high of $31.48. The stock has a 50-day moving average of $27.07 and a 200 day moving average of $26.69. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.39 and a current ratio of 0.49. The company has a market capitalization of $55.98 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 3.08 and a beta of 0.72.

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

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.2875 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.56%. Kinder Morgan’s dividend payout ratio (DPR) is currently 98.29%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Kinder Morgan from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Barclays raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 target price for the company in a research report on Monday, March 3rd. Scotiabank assumed coverage on Kinder Morgan in a research report on Friday, January 10th. They set a “sector perform” rating and a $26.00 price target on the stock. Royal Bank of Canada increased their price objective on Kinder Morgan from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Monday, March 3rd. Finally, UBS Group upped their target price on shares of Kinder Morgan from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.64.

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.