Providence Capital Advisors LLC Buys New Shares in Kinder Morgan, Inc. $KMI

Providence Capital Advisors LLC purchased a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 94,458 shares of the pipeline company’s stock, valued at approximately $2,674,000.

Several other institutional investors have also recently made changes to their positions in the stock. Davis Capital Management bought a new position in shares of Kinder Morgan in the 3rd quarter valued at about $1,426,000. Vise Technologies Inc. purchased a new stake in Kinder Morgan during the second quarter valued at approximately $1,713,000. Carnegie Investment Counsel raised its position in Kinder Morgan by 9.8% during the third quarter. Carnegie Investment Counsel now owns 755,295 shares of the pipeline company’s stock valued at $21,382,000 after purchasing an additional 67,274 shares during the period. Community Financial Services Group LLC bought a new stake in shares of Kinder Morgan in the 3rd quarter valued at approximately $1,683,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Kinder Morgan by 26.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 329,324 shares of the pipeline company’s stock worth $9,323,000 after purchasing an additional 69,826 shares during the period. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Trading Up 1.7%

KMI stock opened at $31.03 on Tuesday. Kinder Morgan, Inc. has a 12 month low of $23.94 and a 12 month high of $31.12. The firm’s 50-day moving average is $27.98 and its 200 day moving average is $27.41. The company has a market capitalization of $69.03 billion, a PE ratio of 22.65, a P/E/G ratio of 2.51 and a beta of 0.70. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.64 and a quick ratio of 0.49.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, January 21st. The pipeline company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Kinder Morgan had a net margin of 18.04% and a return on equity of 9.02%. The business had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $1.17 dividend on an annualized basis and a yield of 3.8%. Kinder Morgan’s payout ratio is 85.40%.

Insiders Place Their Bets

In other Kinder Morgan news, VP John W. Schlosser sold 6,166 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $30.09, for a total value of $185,534.94. Following the completion of the sale, the vice president directly owned 195,038 shares in the company, valued at approximately $5,868,693.42. This represents a 3.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Patrick Michels sold 20,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $30.00, for a total value of $600,000.00. Following the transaction, the chief financial officer owned 139,428 shares in the company, valued at approximately $4,182,840. This represents a 12.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 38,498 shares of company stock worth $1,126,515. 12.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley restated a “buy” rating on shares of Kinder Morgan in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Kinder Morgan in a research report on Thursday, January 22nd. Jefferies Financial Group raised their target price on shares of Kinder Morgan from $29.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, January 22nd. Mizuho dropped their price target on shares of Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Finally, Royal Bank Of Canada increased their price objective on shares of Kinder Morgan from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Kinder Morgan presently has a consensus rating of “Moderate Buy” and an average target price of $32.38.

About Kinder Morgan

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.