CANADA LIFE ASSURANCE Co Raises Holdings in Kinder Morgan, Inc. (NYSE:KMI)

CANADA LIFE ASSURANCE Co increased its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 6.0% in the 1st quarter, Holdings Channel reports. The firm owned 2,545,943 shares of the pipeline company’s stock after purchasing an additional 144,687 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Kinder Morgan were worth $46,726,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in KMI. Oxford Financial Group LTD. LLC boosted its stake in Kinder Morgan by 7.1% during the first quarter. Oxford Financial Group LTD. LLC now owns 16,446 shares of the pipeline company’s stock worth $302,000 after buying an additional 1,087 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in Kinder Morgan during the 1st quarter worth about $2,943,000. UniSuper Management Pty Ltd increased its holdings in Kinder Morgan by 326.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 77,753 shares of the pipeline company’s stock worth $1,426,000 after purchasing an additional 59,499 shares during the period. Clearbridge Investments LLC increased its holdings in Kinder Morgan by 23.6% during the 1st quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock worth $204,319,000 after purchasing an additional 2,125,648 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in Kinder Morgan by 151.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 340,955 shares of the pipeline company’s stock worth $6,253,000 after purchasing an additional 205,551 shares during the period. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KMI has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Friday, July 19th. Scotiabank increased their price objective on Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. UBS Group increased their price objective on Kinder Morgan from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Finally, Tudor Pickering upgraded Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Insiders Place Their Bets

In other Kinder Morgan news, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the transaction, the vice president now owns 259,069 shares in the company, valued at $5,116,612.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.64% of the stock is currently owned by insiders.

Kinder Morgan Price Performance

Kinder Morgan stock traded up $0.03 during mid-day trading on Thursday, hitting $21.08. 10,038,384 shares of the company were exchanged, compared to its average volume of 14,136,162. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.38. The business’s 50 day simple moving average is $19.90 and its two-hundred day simple moving average is $18.57. The company has a market capitalization of $46.79 billion, a P/E ratio of 19.16, a PEG ratio of 3.28 and a beta of 0.93. Kinder Morgan, Inc. has a 12-month low of $15.89 and a 12-month high of $21.86.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The firm had revenue of $3.57 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the previous year, the business posted $0.24 EPS. Kinder Morgan’s revenue was up 2.0% compared to the same quarter last year. Analysts forecast that Kinder Morgan, Inc. will post 1.23 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date is Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is presently 104.55%.

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.