Viking Fund Management LLC Purchases 25,000 Shares of Kinder Morgan, Inc. (NYSE:KMI)

by · The Cerbat Gem

Viking Fund Management LLC grew its position in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 50.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the pipeline company’s stock after acquiring an additional 25,000 shares during the quarter. Viking Fund Management LLC’s holdings in Kinder Morgan were worth $1,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC raised its position in shares of Kinder Morgan by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 33,313 shares of the pipeline company’s stock worth $588,000 after acquiring an additional 8,952 shares in the last quarter. Beacon Financial Group lifted its position in Kinder Morgan by 42.0% during the 4th quarter. Beacon Financial Group now owns 29,919 shares of the pipeline company’s stock worth $528,000 after acquiring an additional 8,845 shares during the period. EP Wealth Advisors LLC grew its stake in Kinder Morgan by 14.1% during the 4th quarter. EP Wealth Advisors LLC now owns 74,764 shares of the pipeline company’s stock valued at $1,319,000 after purchasing an additional 9,231 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in Kinder Morgan in the fourth quarter valued at approximately $152,000. Finally, SageView Advisory Group LLC raised its position in Kinder Morgan by 13.8% during the 4th quarter. SageView Advisory Group LLC now owns 23,460 shares of the pipeline company’s stock worth $404,000 after buying an additional 2,853 shares during the last quarter. 62.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KMI. UBS Group increased their price objective on shares of Kinder Morgan from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley upgraded Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 target price on the stock in a research note on Monday, September 16th. Royal Bank of Canada lifted their price target on Kinder Morgan from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 30th. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Friday, July 19th. Finally, Barclays boosted their target price on shares of Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.18.

Get Our Latest Stock Analysis on KMI

Insider Activity at Kinder Morgan

In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the sale, the president now directly owns 916,773 shares of the company’s stock, valued at $19,261,400.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the sale, the vice president now owns 25,169 shares of the company’s stock, valued at $534,841.25. This trade 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. Also, President Thomas A. Martin sold 100,000 shares of Kinder Morgan stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the sale, the president now owns 916,773 shares in the company, valued at $19,261,400.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,311 shares of company stock valued at $3,121,891. 12.64% of the stock is currently owned by insiders.

Kinder Morgan Price Performance

Shares of KMI traded up $0.98 during mid-day trading on Friday, hitting $24.70. 21,490,048 shares of the company were exchanged, compared to its average volume of 13,770,874. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.37. Kinder Morgan, Inc. has a 1-year low of $15.91 and a 1-year high of $24.70. The stock has a market cap of $54.82 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93. The company has a 50 day moving average of $21.70 and a 200-day moving average of $20.25.

Kinder Morgan (NYSE:KMI – Get Free Report) last issued its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Analysts expect that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a $0.2875 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.66%. Kinder Morgan’s dividend payout ratio (DPR) is presently 104.55%.

Kinder Morgan Profile

(Free Report)

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.

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