Connor Clark & Lunn Investment Management Ltd. Acquires 146,868 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 69.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,045 shares of the pipeline company’s stock after purchasing an additional 146,868 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Kinder Morgan were worth $7,887,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Northwest Investment Counselors LLC acquired a new position in shares of Kinder Morgan in the third quarter valued at approximately $28,000. Planning Capital Management Corp lifted its holdings in shares of Kinder Morgan by 143.6% in the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 797 shares in the last quarter. HM Payson & Co. boosted its position in shares of Kinder Morgan by 401.8% during the third quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock worth $32,000 after buying an additional 1,145 shares during the period. HWG Holdings LP bought a new position in shares of Kinder Morgan during the second quarter worth about $30,000. Finally, ZRC Wealth Management LLC acquired a new stake in Kinder Morgan in the 3rd quarter valued at approximately $36,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KMI. Wells Fargo & Company upped their price target on Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Bank of America started coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They issued a “buy” rating and a $27.00 target price for the company. Morgan Stanley set a $26.00 price target on shares of Kinder Morgan in a research report on Friday, October 18th. Stifel Nicolaus raised their price objective on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Finally, Truist Financial upped their target price on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.36.

Kinder Morgan Trading Down 0.2 %

Shares of KMI stock opened at $28.49 on Friday. Kinder Morgan, Inc. has a 12-month low of $16.47 and a 12-month high of $28.81. The company has a market capitalization of $63.29 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 3.86 and a beta of 0.91. The firm has a 50 day moving average price of $24.56 and a two-hundred day moving average price of $21.80. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95.

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

Kinder Morgan Announces Dividend

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

Insiders Place Their Bets

In related news, Director Amy W. Chronis purchased 2,241 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the purchase, the director now owns 23,995 shares in the company, valued at approximately $597,235.55. This represents a 10.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director C Park Shaper sold 690,142 shares of Kinder Morgan stock in a transaction on Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the completion of the transaction, the director now directly owns 6,809,858 shares of the company’s stock, valued at $168,543,985.50. This represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.64% of the company’s stock.

Kinder Morgan Company Profile

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.