Franklin Resources Inc. grew its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 44.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,142,956 shares of the pipeline company's stock after buying an additional 349,158 shares during the quarter. Franklin Resources Inc. owned approximately 0.05% of Kinder Morgan worth $25,248,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of Kinder Morgan in the third quarter worth approximately $28,000. HWG Holdings LP purchased a new stake in shares of Kinder Morgan in the second quarter worth about $30,000. Planning Capital Management Corp grew its stake in shares of Kinder Morgan by 143.6% in the 3rd quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company's stock worth $30,000 after buying an additional 797 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Kinder Morgan in the second quarter worth about $31,000. Finally, HM Payson & Co. boosted its holdings in shares of Kinder Morgan by 401.8% in the 3rd quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company's stock worth $32,000 after purchasing an additional 1,145 shares during the period. 62.52% of the stock is currently owned by institutional investors.
NYSE:KMI opened at $26.24 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95. The company has a 50-day moving average of $26.39 and a 200-day moving average of $22.86. Kinder Morgan, Inc. has a twelve month low of $16.47 and a twelve month high of $28.81. The firm has a market cap of $58.30 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 3.88 and a beta of 0.95.
Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The firm had revenue of $3.70 billion during the quarter, compared to analysts' expectations of $4.05 billion. During the same quarter last year, the company posted $0.25 EPS. The firm's revenue was down 5.3% compared to the same quarter last year. Analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.2875 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.38%. Kinder Morgan's dividend payout ratio is 100.88%.
In other Kinder Morgan news, Director Amy W. Chronis acquired 2,241 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average price of $24.89 per share, with a total value of $55,778.49. Following the purchase, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $27.34, for a total transaction of $492,120.00. Following the transaction, the president now directly owns 879,652 shares in the company, valued at $24,049,685.68. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 727,263 shares of company stock valued at $18,075,634. Company insiders own 12.64% of the company's stock.
A number of research firms have weighed in on KMI. Morgan Stanley set a $26.00 target price on Kinder Morgan in a research note on Friday, October 18th. UBS Group lifted their price target on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Royal Bank of Canada upped their price objective on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a "sector perform" rating in a report on Tuesday, October 22nd. Stifel Nicolaus increased their price target on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a "hold" rating in a report on Tuesday, August 27th. Finally, The Goldman Sachs Group lifted their price objective on Kinder Morgan from $26.00 to $29.00 and gave the company a "buy" rating in a research note on Tuesday, November 26th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Kinder Morgan currently has an average rating of "Moderate Buy" and a consensus price target of $26.25.
Check Out Our Latest Analysis on KMI
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Kinder Morgan, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kinder Morgan wasn't on the list.
While Kinder Morgan currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.