Wesbanco Bank Inc. Acquires 44,423 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Wesbanco Bank Inc. lifted its stake in Kinder Morgan, Inc. (NYSE:KMI) by 38.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,415 shares of the pipeline company’s stock after acquiring an additional 44,423 shares during the period. Wesbanco Bank Inc.’s holdings in Kinder Morgan were worth $3,544,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in KMI. Pathway Financial Advisers LLC bought a new position in Kinder Morgan in the 1st quarter worth about $30,000. HWG Holdings LP bought a new position in shares of Kinder Morgan in the second quarter valued at approximately $30,000. OFI Invest Asset Management purchased a new position in Kinder Morgan during the first quarter valued at approximately $31,000. Redmont Wealth Advisors LLC bought a new stake in Kinder Morgan during the 1st quarter worth approximately $31,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Kinder Morgan in the 2nd quarter worth approximately $31,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Trading Down 0.5 %

Shares of KMI opened at $24.75 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.37. Kinder Morgan, Inc. has a fifty-two week low of $15.91 and a fifty-two week high of $25.02. The firm has a 50 day moving average price of $21.88 and a 200-day moving average price of $20.36. The firm has a market cap of $54.93 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 3.27 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last posted its quarterly 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 analysts’ expectations of $4.13 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. As a group, equities research analysts forecast that Kinder Morgan, Inc. will post 1.19 earnings per share for the current year.

Insider Activity

In related 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 transaction of $36,309.00. Following the transaction, the vice president now directly owns 307,409 shares in the company, valued at $6,455,589. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the sale, the vice president now owns 307,409 shares of the company’s stock, valued at $6,455,589. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the transaction, the president now directly owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,311 shares of company stock valued at $3,121,891. Insiders own 12.64% of the company’s stock.

Wall Street Analysts Forecast Growth

KMI has been the topic of several research analyst reports. Morgan Stanley raised shares of Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price target on the stock in a report on Monday, September 16th. Scotiabank upped their target price on Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Barclays lifted their price target on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Bank of America upgraded shares of Kinder Morgan from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $23.00 to $27.00 in a research report on Friday, October 11th. Finally, Truist Financial raised their target price on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.18.

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.