Archer Investment Corp Sells 2,600 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Archer Investment Corp cut its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,563 shares of the pipeline company’s stock after selling 2,600 shares during the quarter. Archer Investment Corp’s holdings in Kinder Morgan were worth $1,249,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in shares of Kinder Morgan during the third quarter valued at $28,000. Pathway Financial Advisers LLC bought a new stake in Kinder Morgan in the 1st quarter worth about $30,000. HWG Holdings LP bought a new stake in Kinder Morgan in the 2nd quarter worth about $30,000. Planning Capital Management Corp increased its holdings in Kinder Morgan by 143.6% in the 3rd quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock worth $30,000 after buying an additional 797 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in Kinder Morgan in the 2nd quarter worth about $31,000. 62.52% of the stock is currently owned by institutional investors.

Kinder Morgan Price Performance

KMI stock traded up $0.16 during trading on Friday, reaching $26.92. The company’s stock had a trading volume of 318,070 shares, compared to its average volume of 13,817,833. Kinder Morgan, Inc. has a 1 year low of $16.47 and a 1 year high of $27.58. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $59.81 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 3.69 and a beta of 0.91. The company’s fifty day moving average is $23.72 and its 200-day moving average is $21.40.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. On average, research analysts expect that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.2875 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.27%. Kinder Morgan’s payout ratio is 100.88%.

Insider Activity

In other Kinder Morgan news, Director Amy W. Chronis purchased 2,241 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of $24.89 per share, with a total value of $55,778.49. Following the acquisition, the director now owns 23,995 shares in the company, valued at approximately $597,235.55. The trade was a 10.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director C Park Shaper sold 690,142 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the transaction, the director now directly owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. The trade was a 9.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.64% of the company’s stock.

Analyst Upgrades and Downgrades

KMI has been the subject of several research analyst reports. Morgan Stanley set a $26.00 price objective on Kinder Morgan in a report on Friday, October 18th. UBS Group lifted their price objective on Kinder Morgan from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Truist Financial upped their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. The Goldman Sachs Group reissued a “conviction-buy” rating on shares of Kinder Morgan in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Kinder Morgan currently has a consensus rating of “Moderate Buy” and an average price target of $25.09.

Kinder Morgan Company 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.