Bank of New York Mellon Corp Acquires 1,093,242 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Bank of New York Mellon Corp increased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,734,753 shares of the pipeline company’s stock after buying an additional 1,093,242 shares during the period. Bank of New York Mellon Corp’s holdings in Kinder Morgan were worth $376,332,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Synergy Financial Group LTD raised its holdings in shares of Kinder Morgan by 5.4% in the 4th quarter. Synergy Financial Group LTD now owns 13,515 shares of the pipeline company’s stock worth $370,000 after purchasing an additional 694 shares during the period. Mengis Capital Management Inc. bought a new stake in shares of Kinder Morgan in the fourth quarter valued at $210,000. CWS Financial Advisors LLC purchased a new position in shares of Kinder Morgan during the 4th quarter valued at $227,000. Mainstay Capital Management LLC ADV grew its stake in shares of Kinder Morgan by 9.3% during the 4th quarter. Mainstay Capital Management LLC ADV now owns 15,088 shares of the pipeline company’s stock worth $413,000 after acquiring an additional 1,281 shares during the period. Finally, Forvis Mazars Wealth Advisors LLC bought a new stake in Kinder Morgan in the 4th quarter valued at about $408,000. Institutional investors own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KMI. The Goldman Sachs Group boosted their price target on shares of Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. UBS Group boosted their price objective on Kinder Morgan from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Citigroup raised their target price on Kinder Morgan from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Scotiabank began coverage on shares of Kinder Morgan in a report on Friday, January 10th. They issued a “sector perform” rating and a $26.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.14.

Insider Activity

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $27.91, for a total value of $502,380.00. Following the completion of the sale, the president now directly owns 861,652 shares of the company’s stock, valued at $24,048,707.32. The trade was a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John W. Schlosser sold 75,461 shares of the firm’s stock in a transaction dated 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 directly owns 220,681 shares in the company, valued at $5,881,148.65. This trade represents a 25.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,461 shares of company stock valued at $3,504,136. Corporate insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Up 0.2 %

KMI opened at $26.16 on Thursday. The business’s fifty day simple moving average is $27.76 and its 200 day simple moving average is $25.44. Kinder Morgan, Inc. has a 52 week low of $17.02 and a 52 week high of $31.48. The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 0.94. The stock has a market cap of $58.12 billion, a PE ratio of 22.35, a P/E/G ratio of 3.08 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, January 22nd. The pipeline company reported $0.32 EPS 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%. As a group, research analysts expect that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were issued 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 4.40%. Kinder Morgan’s payout ratio is 98.29%.

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.