Toronto Dominion Bank Has $19.80 Million Position in Kinder Morgan, Inc. (NYSE:KMI)

Toronto Dominion Bank cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 13.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 996,679 shares of the pipeline company’s stock after selling 151,005 shares during the quarter. Toronto Dominion Bank’s holdings in Kinder Morgan were worth $19,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of KMI. True Wealth Design LLC increased its position in Kinder Morgan by 3,655.3% in the 4th quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 1,389 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in Kinder Morgan in the first quarter worth approximately $30,000. OFI Invest Asset Management bought a new position in Kinder Morgan during the first quarter valued at approximately $31,000. Redmont Wealth Advisors LLC bought a new stake in Kinder Morgan in the first quarter worth approximately $31,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Kinder Morgan during the 2nd quarter worth $31,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Price Performance

Shares of KMI stock opened at $21.68 on Friday. The company has a market capitalization of $48.12 billion, a P/E ratio of 19.71, a P/E/G ratio of 3.09 and a beta of 0.93. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $22.33. The stock has a 50 day moving average of $21.27 and a two-hundred day moving average of $19.82.

Kinder Morgan (NYSE:KMI) last posted its quarterly 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). The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS. As a group, equities analysts expect that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date was Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is 104.55%.

Insider Buying and Selling at Kinder Morgan

In related news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the transaction, the president now owns 916,773 shares in the company, valued at approximately $19,261,400.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.04, for a total transaction of $529,555.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the transaction, the president now directly owns 916,773 shares in the company, valued at $19,261,400.73. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,311 shares of company stock valued at $3,121,891. 12.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday, July 19th. Scotiabank upped their price target on Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. UBS Group raised their price objective on Kinder Morgan from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays upped their target price on Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Finally, Wells Fargo & Company raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $18.00 to $22.00 in a research report on Tuesday, June 4th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.55.

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.