Peapack Gladstone Financial Corp Increases Stake in Kinder Morgan, Inc. (NYSE:KMI)

Peapack Gladstone Financial Corp lifted its position in Kinder Morgan, Inc. (NYSE:KMI) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 180,272 shares of the pipeline company’s stock after buying an additional 4,717 shares during the period. Peapack Gladstone Financial Corp’s holdings in Kinder Morgan were worth $3,982,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. grew its stake in Kinder Morgan by 0.5% in the third quarter. Sunbelt Securities Inc. now owns 90,560 shares of the pipeline company’s stock worth $2,000,000 after purchasing an additional 414 shares in the last quarter. SignalPoint Asset Management LLC grew its position in shares of Kinder Morgan by 1.5% during the 3rd quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock worth $655,000 after buying an additional 447 shares in the last quarter. Moors & Cabot Inc. increased its stake in shares of Kinder Morgan by 0.3% during the third quarter. Moors & Cabot Inc. now owns 144,529 shares of the pipeline company’s stock valued at $3,193,000 after buying an additional 468 shares during the period. Trust Co. of Oklahoma raised its holdings in shares of Kinder Morgan by 1.5% in the third quarter. Trust Co. of Oklahoma now owns 33,586 shares of the pipeline company’s stock valued at $742,000 after acquiring an additional 486 shares in the last quarter. Finally, Pinnacle West Asset Management Inc. lifted its stake in Kinder Morgan by 0.5% in the third quarter. Pinnacle West Asset Management Inc. now owns 96,150 shares of the pipeline company’s stock worth $2,124,000 after acquiring an additional 500 shares during the period. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Performance

KMI opened at $26.88 on Friday. The company has a market cap of $59.72 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 3.88 and a beta of 0.95. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The firm’s 50-day moving average price is $26.17 and its 200-day moving average price is $22.68. Kinder Morgan, Inc. has a 52-week low of $16.47 and a 52-week high of $28.81.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. Kinder Morgan’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. As a group, equities analysts anticipate that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Thursday, October 31st. Kinder Morgan’s payout ratio is 100.88%.

Analyst Upgrades and Downgrades

A number of research firms have commented on KMI. Barclays raised their target price on shares of Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Wells Fargo & Company lifted their price objective on shares of Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. The Goldman Sachs Group upped their target price on Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada increased their target price on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley set a $26.00 price target on Kinder Morgan in a research report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Kinder Morgan has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, Director Amy W. Chronis bought 2,241 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director C Park Shaper sold 690,142 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the sale, the director now directly owns 6,809,858 shares in the company, valued at approximately $168,543,985.50. The trade was a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 727,263 shares of company stock worth $18,075,634. Company insiders own 12.64% of the company’s stock.

About Kinder Morgan

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.