155,713 Shares in Kinder Morgan, Inc. (NYSE:KMI) Acquired by Jennison Associates LLC

Jennison Associates LLC acquired a new stake in Kinder Morgan, Inc. (NYSE:KMI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 155,713 shares of the pipeline company’s stock, valued at approximately $3,440,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commerce Bank lifted its holdings in shares of Kinder Morgan by 11.6% in the 3rd quarter. Commerce Bank now owns 122,595 shares of the pipeline company’s stock worth $2,708,000 after purchasing an additional 12,783 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Kinder Morgan during the third quarter worth $1,893,000. Avior Wealth Management LLC lifted its stake in shares of Kinder Morgan by 3.2% in the third quarter. Avior Wealth Management LLC now owns 115,634 shares of the pipeline company’s stock valued at $2,554,000 after buying an additional 3,553 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Kinder Morgan by 11.6% during the third quarter. PNC Financial Services Group Inc. now owns 408,755 shares of the pipeline company’s stock valued at $9,029,000 after buying an additional 42,492 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Kinder Morgan during the third quarter worth about $1,061,000. Institutional investors own 62.52% of the company’s stock.

Insider Transactions at Kinder Morgan

In related news, President Thomas A. Martin sold 19,121 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the transaction, the president now directly owns 897,652 shares of the company’s stock, valued at approximately $23,590,294.56. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy W. Chronis bought 2,241 shares of the stock in a transaction on Tuesday, November 5th. The shares were acquired at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the acquisition, the director now directly owns 23,995 shares in the company, valued at approximately $597,235.55. This trade represents a 10.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

KMI has been the topic of several recent research reports. Wells Fargo & Company raised their price target 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. Barclays lifted their target price on Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Bank of America assumed 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. The Goldman Sachs Group reaffirmed a “conviction-buy” rating on shares of Kinder Morgan in a report on Friday, October 18th. Finally, UBS Group increased their target price on shares of Kinder Morgan from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.36.

Kinder Morgan Price Performance

KMI opened at $28.49 on Friday. The firm has a market cap of $63.29 billion, a P/E ratio of 24.99, a PEG ratio of 3.86 and a beta of 0.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. Kinder Morgan, Inc. has a fifty-two week low of $16.47 and a fifty-two week high of $28.81. The firm has a 50-day moving average of $24.56 and a 200 day moving average of $21.80.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, research analysts expect that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.2875 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.04%. Kinder Morgan’s dividend payout ratio is presently 100.88%.

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.