Pinnacle Bancorp Inc. Boosts Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Pinnacle Bancorp Inc. increased its stake in Kinder Morgan, Inc. (NYSE:KMI) by 138.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,096 shares of the pipeline company’s stock after purchasing an additional 1,800 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in Kinder Morgan were worth $57,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Kinder Morgan during the fourth quarter valued at about $409,063,000. Confluence Investment Management LLC purchased a new position in Kinder Morgan during the first quarter valued at approximately $87,627,000. Bank of Nova Scotia increased its holdings in Kinder Morgan by 2,463.8% during the 3rd quarter. Bank of Nova Scotia now owns 4,443,792 shares of the pipeline company’s stock worth $73,678,000 after acquiring an additional 4,270,461 shares during the period. Qube Research & Technologies Ltd lifted its stake in Kinder Morgan by 1,121.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 3,965,614 shares of the pipeline company’s stock worth $65,750,000 after purchasing an additional 3,640,939 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Kinder Morgan by 16.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,387,752 shares of the pipeline company’s stock valued at $289,087,000 after purchasing an additional 2,309,550 shares during the period. 62.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on KMI. Tudor Pickering upgraded Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $18.00 to $22.00 in a research report on Tuesday, June 4th. StockNews.com cut shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Truist Financial reiterated a “hold” rating and set a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Finally, UBS Group increased their price target on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kinder Morgan presently has an average rating of “Moderate Buy” and an average target price of $21.00.

Insider Activity

In related news, Director Michael C. Morgan sold 230,000 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $18.82, for a total value of $4,328,600.00. Following the completion of the transaction, the director now directly owns 345,087 shares of the company’s stock, valued at $6,494,537.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the transaction, the director now owns 345,087 shares in the company, valued at approximately $6,494,537.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dax Sanders sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the transaction, the vice president now owns 259,069 shares of the company’s stock, valued at approximately $5,116,612.75. The disclosure for this sale can be found here. Insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Performance

Kinder Morgan stock opened at $19.87 on Friday. The firm has a fifty day simple moving average of $19.32 and a two-hundred day simple moving average of $18.22. Kinder Morgan, Inc. has a twelve month low of $15.89 and a twelve month high of $20.19. The company has a market capitalization of $44.10 billion, a PE ratio of 18.06, a P/E/G ratio of 3.12 and a beta of 0.92. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. Research analysts expect that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were given a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 5.79%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, April 29th. Kinder Morgan’s dividend payout ratio (DPR) is currently 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.