Planning Capital Management Corp Buys 797 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Planning Capital Management Corp grew its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 143.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,352 shares of the pipeline company’s stock after purchasing an additional 797 shares during the quarter. Planning Capital Management Corp’s holdings in Kinder Morgan were worth $30,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global Retirement Partners LLC grew its holdings in Kinder Morgan by 3.5% in the third quarter. Global Retirement Partners LLC now owns 22,813 shares of the pipeline company’s stock worth $504,000 after purchasing an additional 776 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Kinder Morgan by 0.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,591,311 shares of the pipeline company’s stock worth $101,422,000 after buying an additional 29,861 shares in the last quarter. Czech National Bank raised its holdings in shares of Kinder Morgan by 6.9% in the third quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock valued at $8,689,000 after purchasing an additional 25,406 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Kinder Morgan by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,291,704 shares of the pipeline company’s stock worth $50,624,000 after buying an additional 71,984 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its position in Kinder Morgan by 1,512.7% in the third quarter. Valley National Advisers Inc. now owns 88,583 shares of the pipeline company’s stock worth $1,956,000 after purchasing an additional 83,090 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insiders Place Their Bets

In other news, Director Amy W. Chronis acquired 2,241 shares of the stock in a transaction dated 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 completion of the purchase, the director now owns 23,995 shares in the company, valued at approximately $597,235.55. The trade was a 10.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $502,499.88. Following the completion of the sale, the president now owns 897,652 shares in the company, 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 currently owned by insiders.

Kinder Morgan Price Performance

KMI opened at $26.77 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $59.46 billion, a P/E ratio of 23.48, a PEG ratio of 3.69 and a beta of 0.91. The stock has a 50-day moving average price of $23.61 and a 200-day moving average price of $21.36. Kinder Morgan, Inc. has a 12-month low of $16.47 and a 12-month high of $27.58.

Kinder Morgan (NYSE:KMI) last issued 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 firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. Equities analysts predict that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Thursday, October 31st. Kinder Morgan’s payout ratio is presently 100.88%.

Wall Street Analysts Forecast Growth

KMI has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Morgan Stanley set a $26.00 price target on shares of Kinder Morgan in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group reaffirmed a “conviction-buy” rating on shares of Kinder Morgan in a report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.09.

Kinder Morgan 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.