Chase Investment Counsel Corp Buys 17,145 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Chase Investment Counsel Corp raised its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 52.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,793 shares of the pipeline company’s stock after purchasing an additional 17,145 shares during the period. Chase Investment Counsel Corp’s holdings in Kinder Morgan were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. SignalPoint Asset Management LLC lifted its holdings in Kinder Morgan by 1.5% during the third quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock valued at $655,000 after purchasing an additional 447 shares during the last quarter. Trust Co. of Oklahoma raised its holdings in Kinder Morgan by 1.5% during the 3rd quarter. Trust Co. of Oklahoma now owns 33,586 shares of the pipeline company’s stock valued at $742,000 after acquiring an additional 486 shares during the period. Pinnacle West Asset Management Inc. grew its holdings in Kinder Morgan by 0.5% during the 3rd quarter. Pinnacle West Asset Management Inc. now owns 96,150 shares of the pipeline company’s stock valued at $2,124,000 after buying an additional 500 shares in the last quarter. Carson Advisory Inc. boosted its holdings in Kinder Morgan by 3.4% in the 3rd quarter. Carson Advisory Inc. now owns 15,901 shares of the pipeline company’s stock valued at $351,000 after purchasing an additional 522 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in shares of Kinder Morgan by 0.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock valued at $3,295,000 after purchasing an additional 530 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on KMI shares. Bank of America assumed coverage on Kinder Morgan in a research note on Thursday, October 17th. They set a “buy” rating and a $27.00 price objective for the company. Truist Financial lifted their price target on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. The Goldman Sachs Group restated a “conviction-buy” rating on shares of Kinder Morgan in a research report on Friday, October 18th. Royal Bank of Canada lifted their target price on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Finally, Barclays increased their price target on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.09.

Kinder Morgan Trading Down 0.3 %

Shares of KMI opened at $27.18 on Wednesday. The firm has a fifty day simple moving average of $23.51 and a two-hundred day simple moving average of $21.32. Kinder Morgan, Inc. has a twelve month low of $16.34 and a twelve month high of $27.58. The stock has a market capitalization of $60.38 billion, a P/E ratio of 23.84, a PEG ratio of 3.75 and a beta of 0.91. 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 posted its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. On average, research analysts anticipate 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 will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.2875 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 annualized dividend and a yield of 4.23%. Kinder Morgan’s dividend payout ratio (DPR) is presently 100.88%.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, President Thomas A. Martin sold 19,121 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total transaction of $502,499.88. Following the sale, the president now directly owns 897,652 shares of the company’s stock, valued at approximately $23,590,294.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Kinder Morgan news, Director C Park Shaper sold 690,142 shares of Kinder Morgan stock in a transaction that occurred 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 sale, the director now owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Thomas A. Martin sold 19,121 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total transaction of $502,499.88. Following the sale, the president now owns 897,652 shares in the company, valued at $23,590,294.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.81% of the company’s stock.

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.