Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lessened its stake in Kinder Morgan, Inc. (NYSE:KMI) by 3.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 138,784 shares of the pipeline company’s stock after selling 5,600 shares during the quarter. Cornerstone Advisors LLC’s holdings in Kinder Morgan were worth $2,758,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. True Wealth Design LLC lifted its stake in Kinder Morgan by 3,655.3% in the fourth quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 1,389 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Kinder Morgan in the 1st quarter valued at about $30,000. OFI Invest Asset Management acquired a new stake in shares of Kinder Morgan during the 1st quarter worth about $31,000. Redmont Wealth Advisors LLC purchased a new stake in Kinder Morgan during the first quarter worth approximately $31,000. Finally, Strategic Financial Concepts LLC acquired a new position in Kinder Morgan in the second quarter valued at approximately $31,000. 62.52% of the stock is owned by institutional investors and hedge funds.

Kinder Morgan Trading Up 1.6 %

NYSE KMI opened at $21.47 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $47.65 billion, a P/E ratio of 19.52, a P/E/G ratio of 2.90 and a beta of 0.93. Kinder Morgan, Inc. has a 52-week low of $15.89 and a 52-week high of $21.86. The firm has a 50-day moving average price of $21.04 and a 200 day moving average price of $19.63.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. Equities research analysts expect that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date was Wednesday, July 31st. Kinder Morgan’s dividend payout ratio (DPR) is currently 104.55%.

Insiders Place Their Bets

In related news, VP Sital K. Mody sold 21,413 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the transaction, the vice president now directly owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Sital K. Mody sold 21,413 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total value of $455,026.25. Following the sale, the vice president now directly owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Thomas A. Martin sold 100,000 shares of Kinder Morgan stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the transaction, the president now owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,311 shares of company stock worth $3,121,891. Corporate insiders own 12.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on KMI. Wells Fargo & Company upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $22.00 in a research note on Tuesday, June 4th. Tudor Pickering upgraded Kinder Morgan to a “strong-buy” rating in a research note on Thursday, May 30th. Royal Bank of Canada boosted their price objective on Kinder Morgan from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 30th. Stifel Nicolaus raised their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, UBS Group increased their price target on shares of Kinder Morgan from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Kinder Morgan presently has a consensus rating of “Hold” and a consensus target price of $22.55.

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.