Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by Lumbard & Kellner LLC

Lumbard & Kellner LLC reduced its position in Kinder Morgan, Inc. (NYSE:KMI) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 378,191 shares of the pipeline company’s stock after selling 4,962 shares during the period. Kinder Morgan makes up about 3.5% of Lumbard & Kellner LLC’s holdings, making the stock its 6th biggest holding. Lumbard & Kellner LLC’s holdings in Kinder Morgan were worth $7,515,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Kinder Morgan by 15.8% during the first quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock worth $3,665,963,000 after purchasing an additional 27,254,172 shares during the last quarter. Norges Bank acquired a new position in Kinder Morgan during the 4th quarter valued at approximately $409,063,000. Dimensional Fund Advisors LP grew its stake 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 buying an additional 257,658 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Kinder Morgan by 23.6% in the first quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock valued at $204,319,000 after buying an additional 2,125,648 shares during the last quarter. Finally, Energy Income Partners LLC boosted its holdings in shares of Kinder Morgan by 2.6% during the first quarter. Energy Income Partners LLC now owns 10,717,452 shares of the pipeline company’s stock valued at $196,558,000 after acquiring an additional 272,648 shares during the period. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $18.00 to $22.00 in a research report on Tuesday, June 4th. Stifel Nicolaus lifted their price target on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Tudor Pickering raised Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Scotiabank lifted their target price on Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. boosted their price target on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. 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 stock. According to data from MarketBeat, Kinder Morgan presently has a consensus rating of “Hold” and a consensus price target of $22.55.

Kinder Morgan Price Performance

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 business’s 50-day moving average price is $21.04 and its 200 day moving average price is $19.63. Kinder Morgan, Inc. has a 52-week low of $15.89 and a 52-week high of $21.86. The firm has a market cap of $47.65 billion, a P/E ratio of 19.52, a PEG ratio of 2.90 and a beta of 0.93.

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

Kinder Morgan Dividend Announcement

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

Insider Activity

In related news, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction 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 directly owns 307,409 shares in the company, valued at approximately $6,455,589. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the sale, the president now owns 916,773 shares in the company, valued at approximately $19,261,400.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the transaction, the vice president now owns 307,409 shares in the company, valued at $6,455,589. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,311 shares of company stock worth $3,121,891. 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.