State of Michigan Retirement System Has $7.54 Million Stake in Kinder Morgan Inc (NYSE:KMI)

State of Michigan Retirement System lifted its stake in Kinder Morgan Inc (NYSE:KMI) by 11.3% during the second quarter, Holdings Channel reports. The fund owned 496,736 shares of the pipeline company’s stock after acquiring an additional 50,280 shares during the quarter. State of Michigan Retirement System’s holdings in Kinder Morgan were worth $7,535,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Management Corp VA bought a new position in shares of Kinder Morgan in the second quarter valued at approximately $6,659,000. Stelac Advisory Services LLC grew its stake in Kinder Morgan by 1.9% in the 2nd quarter. Stelac Advisory Services LLC now owns 51,783 shares of the pipeline company’s stock valued at $786,000 after buying an additional 942 shares during the last quarter. Hoylecohen LLC raised its holdings in Kinder Morgan by 5.8% in the 2nd quarter. Hoylecohen LLC now owns 316,330 shares of the pipeline company’s stock worth $4,799,000 after acquiring an additional 17,422 shares during the period. Sciencast Management LP acquired a new position in Kinder Morgan during the 2nd quarter worth $617,000. Finally, Pacer Advisors Inc. boosted its holdings in Kinder Morgan by 912.3% during the second quarter. Pacer Advisors Inc. now owns 370,859 shares of the pipeline company’s stock valued at $5,626,000 after acquiring an additional 334,225 shares during the period. Hedge funds and other institutional investors own 61.44% of the company’s stock.

In other Kinder Morgan news, major shareholder Richard D. Kinder bought 300,000 shares of Kinder Morgan stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average cost of $14.14 per share, with a total value of $4,242,000.00. Following the acquisition, the insider now directly owns 244,839,120 shares of the company’s stock, valued at $3,462,025,156.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 14.19% of the company’s stock.

KMI has been the subject of several research analyst reports. Mizuho cut their price objective on Kinder Morgan from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Citigroup cut their price target on Kinder Morgan from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, May 20th. TD Securities lowered their price objective on shares of Kinder Morgan from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Cfra cut their target price on shares of Kinder Morgan from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Finally, Wells Fargo & Co decreased their price target on shares of Kinder Morgan from $18.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. Kinder Morgan presently has a consensus rating of “Hold” and an average target price of $18.72.

Kinder Morgan stock opened at $14.10 on Friday. The firm has a market capitalization of $31.89 billion, a P/E ratio of 201.46, a P/E/G ratio of 5.42 and a beta of 1.04. The stock has a fifty day moving average price of $14.88 and a two-hundred day moving average price of $16.63. Kinder Morgan Inc has a 52-week low of $9.42 and a 52-week high of $22.58. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.48 and a quick ratio of 0.50.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, July 22nd. The pipeline company reported $0.17 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. Kinder Morgan had a net margin of 1.41% and a return on equity of 6.02%. The business had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, equities research analysts predict that Kinder Morgan Inc will post 0.87 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.2625 per share. The ex-dividend date is Friday, July 31st. This represents a $1.05 annualized dividend and a yield of 7.45%. Kinder Morgan’s dividend payout ratio is 110.53%.

About Kinder Morgan

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.

Further Reading: What is a good rate of return for a mutual fund?

Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan Inc (NYSE:KMI).

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

Receive News & Ratings for Kinder Morgan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinder Morgan and related companies with MarketBeat.com's FREE daily email newsletter.