Parsec Financial Management Inc. Grows Position in Kinder Morgan Inc (NYSE:KMI)

Parsec Financial Management Inc. increased its position in Kinder Morgan Inc (NYSE:KMI) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 708,679 shares of the pipeline company’s stock after purchasing an additional 17,626 shares during the quarter. Parsec Financial Management Inc.’s holdings in Kinder Morgan were worth $14,606,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Kinder Morgan by 1.0% during the second quarter. Vanguard Group Inc. now owns 163,647,617 shares of the pipeline company’s stock valued at $3,416,963,000 after buying an additional 1,577,219 shares during the last quarter. Northern Trust Corp raised its stake in Kinder Morgan by 4.4% during the second quarter. Northern Trust Corp now owns 23,092,598 shares of the pipeline company’s stock valued at $482,174,000 after buying an additional 970,639 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Kinder Morgan by 5.6% during the second quarter. Bank of New York Mellon Corp now owns 19,756,052 shares of the pipeline company’s stock valued at $412,506,000 after buying an additional 1,047,033 shares during the last quarter. Energy Income Partners LLC raised its stake in Kinder Morgan by 4.9% during the second quarter. Energy Income Partners LLC now owns 17,262,613 shares of the pipeline company’s stock valued at $360,443,000 after buying an additional 812,350 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. raised its stake in Kinder Morgan by 85.4% during the second quarter. Charles Schwab Investment Advisory Inc. now owns 12,328,127 shares of the pipeline company’s stock valued at $257,411,000 after buying an additional 5,679,805 shares during the last quarter. Institutional investors own 61.77% of the company’s stock.

Shares of Kinder Morgan stock traded up $0.04 on Thursday, reaching $20.44. The company’s stock had a trading volume of 6,908,472 shares, compared to its average volume of 10,058,677. The company has a market capitalization of $46.02 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 4.23 and a beta of 0.81. The firm’s fifty day simple moving average is $20.41 and its two-hundred day simple moving average is $20.35. Kinder Morgan Inc has a 52 week low of $14.62 and a 52 week high of $21.50. The company has a quick ratio of 0.33, a current ratio of 0.35 and a debt-to-equity ratio of 0.93.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, October 16th. The pipeline company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.02). The business had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.51 billion. Kinder Morgan had a return on equity of 6.25% and a net margin of 15.21%. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. As a group, research analysts predict that Kinder Morgan Inc will post 0.96 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Wednesday, October 30th. Kinder Morgan’s payout ratio is 112.36%.

In other news, insider Richard D. Kinder acquired 400,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $19.95 per share, with a total value of $7,980,000.00. Following the completion of the acquisition, the insider now directly owns 241,579,496 shares of the company’s stock, valued at approximately $4,819,510,945.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah Macdonald acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $19.91 per share, with a total value of $99,550.00. Following the acquisition, the director now directly owns 30,328 shares of the company’s stock, valued at $603,830.48. The disclosure for this purchase can be found here. Insiders purchased 705,000 shares of company stock valued at $14,007,550 in the last ninety days. 13.95% of the stock is currently owned by corporate insiders.

A number of research analysts have issued reports on KMI shares. Argus cut Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Scotiabank started coverage on Kinder Morgan in a research note on Tuesday, September 3rd. They set a “sector perform” rating and a $23.00 price objective for the company. BMO Capital Markets cut Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a research note on Monday, July 29th. TD Securities started coverage on Kinder Morgan in a report on Wednesday, October 2nd. They issued a “buy” rating and a $25.00 target price for the company. Finally, Zacks Investment Research reissued a “buy” rating and issued a $23.00 target price on shares of Kinder Morgan in a report on Saturday, June 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Kinder Morgan currently has a consensus rating of “Hold” and an average price target of $22.11.

Kinder Morgan Profile

Kinder Morgan, Inc operates as an energy infrastructure company 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 and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.

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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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