Renaissance Technologies LLC Purchases 1,187,200 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Renaissance Technologies LLC grew its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 35.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,550,331 shares of the pipeline company’s stock after purchasing an additional 1,187,200 shares during the quarter. Renaissance Technologies LLC owned about 0.21% of Kinder Morgan worth $90,415,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in KMI. True Wealth Design LLC raised its holdings in Kinder Morgan by 3,655.3% during 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 bought a new position in Kinder Morgan during the 1st quarter worth approximately $30,000. OFI Invest Asset Management bought a new position in Kinder Morgan during the 1st quarter worth approximately $31,000. Redmont Wealth Advisors LLC bought a new stake in shares of Kinder Morgan in the 1st quarter valued at $31,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Kinder Morgan in the 2nd quarter valued at $31,000. Institutional investors own 62.52% of the company’s stock.

Insiders Place Their Bets

In related news, VP Sital K. Mody sold 25,169 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Sital K. Mody sold 25,169 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the transaction, the vice president now directly owns 307,409 shares in the company, valued at $6,455,589. The disclosure for this sale can be found here. Insiders have sold 148,311 shares of company stock valued at $3,121,891 in the last three months. 12.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KMI. Royal Bank of Canada lifted their price objective on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 30th. Wells Fargo & Company upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $18.00 to $22.00 in a research note on Tuesday, June 4th. Argus upgraded 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. Barclays lifted their price objective on shares of Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, UBS Group boosted their price target on shares of Kinder Morgan from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.55.

Kinder Morgan Price Performance

KMI opened at $21.47 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The company has a market capitalization of $47.65 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 2.90 and a beta of 0.93. The firm’s fifty day moving average price is $21.04 and its two-hundred day moving average price is $19.63. Kinder Morgan, Inc. has a 1 year low of $15.89 and a 1 year high of $21.86.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. Kinder Morgan’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. As a group, analysts anticipate that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date was Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is 104.55%.

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.