Lake Street Advisors Group LLC Decreases Stake in Kinder Morgan, Inc. (NYSE:KMI)

Lake Street Advisors Group LLC lowered its stake in Kinder Morgan, Inc. (NYSE:KMI) by 70.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,909 shares of the pipeline company’s stock after selling 114,481 shares during the period. Lake Street Advisors Group LLC’s holdings in Kinder Morgan were worth $1,036,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Kinder Morgan by 15.8% during the first quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock valued at $3,665,963,000 after buying an additional 27,254,172 shares during the period. Dimensional Fund Advisors LP grew its holdings in Kinder Morgan by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,904,252 shares of the pipeline company’s stock worth $335,891,000 after acquiring an additional 257,658 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Kinder Morgan by 23.6% during the 1st quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock worth $204,319,000 after acquiring an additional 2,125,648 shares in the last quarter. Energy Income Partners LLC boosted its holdings in shares of Kinder Morgan by 2.6% in the 1st quarter. Energy Income Partners LLC now owns 10,717,452 shares of the pipeline company’s stock valued at $196,558,000 after buying an additional 272,648 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its position in Kinder Morgan by 45.9% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock valued at $182,665,000 after purchasing an additional 3,135,457 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on KMI. Royal Bank of Canada upped their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Morgan Stanley set a $26.00 price target on shares of Kinder Morgan in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their price target on shares of Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, UBS Group raised their price target on shares of Kinder Morgan from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and an average target price of $24.91.

Insiders Place Their Bets

In other news, VP Dax Sanders sold 1,729 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the completion of the sale, the vice president now owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the transaction, the vice president now owns 307,409 shares in the company, valued at $6,455,589. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director C Park Shaper sold 690,142 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the sale, the director now directly owns 6,809,858 shares of the company’s stock, valued at $168,543,985.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 817,040 shares of company stock valued at $19,747,879 in the last 90 days. Corporate insiders own 12.64% of the company’s stock.

Kinder Morgan Price Performance

Shares of KMI stock opened at $24.96 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a 12 month low of $15.91 and a 12 month high of $25.43. The firm has a market cap of $55.45 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 3.06 and a beta of 0.93. The stock has a 50-day moving average price of $22.42 and a 200 day moving average price of $20.64.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 earnings per share. Research analysts expect that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

The company 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 $0.2875 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.61%. Kinder Morgan’s payout ratio is presently 100.88%.

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.