PNC Financial Services Group Inc. Grows Position in Kinder Morgan, Inc. (NYSE:KMI)

PNC Financial Services Group Inc. lifted its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 11.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 408,755 shares of the pipeline company’s stock after purchasing an additional 42,492 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kinder Morgan were worth $9,029,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of KMI. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Kinder Morgan in the third quarter worth $1,061,000. Banque Cantonale Vaudoise boosted its position in Kinder Morgan by 13.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 207,208 shares of the pipeline company’s stock worth $4,577,000 after purchasing an additional 24,931 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in Kinder Morgan by 48.1% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 50,045 shares of the pipeline company’s stock valued at $1,106,000 after purchasing an additional 16,265 shares in the last quarter. Prospera Financial Services Inc raised its position in Kinder Morgan by 0.4% in the third quarter. Prospera Financial Services Inc now owns 150,430 shares of the pipeline company’s stock valued at $3,324,000 after purchasing an additional 590 shares during the period. Finally, Caprock Group LLC boosted its position in shares of Kinder Morgan by 89.3% in the third quarter. Caprock Group LLC now owns 67,334 shares of the pipeline company’s stock worth $1,487,000 after buying an additional 31,767 shares during the period. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Buying and Selling

In other news, Director Amy W. Chronis bought 2,241 shares of Kinder Morgan stock in a transaction on Tuesday, November 5th. The stock was purchased at an average cost of $24.89 per share, with a total value of $55,778.49. Following the purchase, the director now directly owns 23,995 shares of the company’s stock, valued at approximately $597,235.55. This trade represents a 10.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 19,121 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total value of $502,499.88. Following the transaction, the president now owns 897,652 shares of the company’s stock, valued at approximately $23,590,294.56. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KMI has been the topic of several analyst reports. Truist Financial raised their target price on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, October 17th. The Goldman Sachs Group restated a “conviction-buy” rating on shares of Kinder Morgan in a research note on Friday, October 18th. UBS Group lifted their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada raised their target price on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley set a $26.00 price target on Kinder Morgan in a research note on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.36.

Kinder Morgan Stock Down 0.2 %

KMI stock opened at $28.49 on Friday. The firm has a market cap of $63.29 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 3.86 and a beta of 0.91. Kinder Morgan, Inc. has a 1-year low of $16.47 and a 1-year high of $28.81. The firm has a fifty day moving average price of $24.56 and a two-hundred day moving average price of $21.80. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data 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). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the company earned $0.25 EPS. Kinder Morgan’s revenue was down 5.3% compared to the same quarter last year. Research analysts predict that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.04%. Kinder Morgan’s dividend payout ratio is currently 100.88%.

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.