Peapack Gladstone Financial Corp Grows Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Peapack Gladstone Financial Corp grew its position in Kinder Morgan, Inc. (NYSE:KMI) by 2.7% in the third quarter, HoldingsChannel reports. The fund owned 180,272 shares of the pipeline company’s stock after acquiring an additional 4,717 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Kinder Morgan were worth $3,982,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in Kinder Morgan in the 3rd quarter worth about $28,000. HWG Holdings LP acquired a new position in Kinder Morgan during the second quarter worth $30,000. Planning Capital Management Corp lifted its holdings in Kinder Morgan by 143.6% during the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 797 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Kinder Morgan in the second quarter valued at about $31,000. Finally, HM Payson & Co. increased its stake in shares of Kinder Morgan by 401.8% during the third quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 1,145 shares in the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Stock Performance

NYSE:KMI opened at $26.88 on Friday. The company’s 50-day moving average is $26.17 and its two-hundred day moving average is $22.68. The firm has a market capitalization of $59.72 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 3.88 and a beta of 0.95. 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.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue was down 5.3% on a year-over-year basis. Analysts forecast that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a $0.2875 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.15 annualized dividend and a yield of 4.28%. Kinder Morgan’s dividend payout ratio (DPR) is currently 100.88%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KMI shares. Royal Bank of Canada raised their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. UBS Group raised their target price on Kinder Morgan from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Morgan Stanley set a $26.00 price target on Kinder Morgan in a research report on Friday, October 18th. Bank of America started coverage on Kinder Morgan in a report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, The Goldman Sachs Group upped their target price on shares of Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Kinder Morgan presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

Insider Buying and Selling at Kinder Morgan

In other news, Director Amy W. Chronis bought 2,241 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were bought 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 directly owns 23,995 shares in the company, valued at $597,235.55. This trade represents a 10.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $27.34, for a total value of $492,120.00. Following the transaction, the president now owns 879,652 shares in the company, valued at $24,049,685.68. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 727,263 shares of company stock valued at $18,075,634 over the last 90 days. 12.64% of the stock is owned by insiders.

Kinder Morgan 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.