Cadence Bank Grows Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Cadence Bank boosted its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 590,212 shares of the pipeline company’s stock after buying an additional 10,011 shares during the quarter. Kinder Morgan makes up about 0.9% of Cadence Bank’s holdings, making the stock its 21st largest position. Cadence Bank’s holdings in Kinder Morgan were worth $13,038,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of KMI. Lazard Asset Management LLC grew its position in shares of Kinder Morgan by 9.2% in the 1st quarter. Lazard Asset Management LLC now owns 26,871 shares of the pipeline company’s stock valued at $492,000 after buying an additional 2,274 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Kinder Morgan by 2.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 191,025 shares of the pipeline company’s stock valued at $3,503,000 after purchasing an additional 4,829 shares during the last quarter. Comerica Bank boosted its stake in Kinder Morgan by 0.4% during the 1st quarter. Comerica Bank now owns 723,774 shares of the pipeline company’s stock worth $13,274,000 after purchasing an additional 2,568 shares during the period. iA Global Asset Management Inc. grew its position in Kinder Morgan by 332.3% during the 1st quarter. iA Global Asset Management Inc. now owns 79,637 shares of the pipeline company’s stock worth $1,461,000 after purchasing an additional 61,217 shares during the last quarter. Finally, Montchanin Asset Management LLC acquired a new position in Kinder Morgan in the first quarter valued at $5,416,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KMI has been the subject of several recent research reports. Stifel Nicolaus increased their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Wells Fargo & Company lifted their target price on Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Morgan Stanley set a $26.00 price target on Kinder Morgan in a research note on Friday, October 18th. Bank of America initiated coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, UBS Group lifted their target price on shares of Kinder Morgan from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 15th. Eight equities research 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.67.

Kinder Morgan Trading Up 0.8 %

Shares of KMI opened at $28.09 on Wednesday. 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, Inc. has a 1-year low of $16.47 and a 1-year high of $28.81. The stock has a market cap of $62.39 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 4.01 and a beta of 0.91. The firm has a 50 day simple moving average of $24.82 and a 200-day simple moving average of $21.97.

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

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.2875 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 annualized dividend and a yield of 4.09%. Kinder Morgan’s payout ratio is currently 100.88%.

Insider Buying and Selling

In related news, Director Amy W. Chronis purchased 2,241 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of $24.89 per share, with a total value of $55,778.49. Following the completion of the transaction, the director now 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 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 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 completion of the transaction, the president now owns 897,652 shares in the company, valued at approximately $23,590,294.56. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. 12.81% of the stock is currently owned by company insiders.

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.