Wealthspire Advisors LLC decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 75.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,962 shares of the pipeline company’s stock after selling 37,419 shares during the quarter. Wealthspire Advisors LLC’s holdings in Kinder Morgan were worth $218,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of KMI. Harbour Investments Inc. bought a new position in shares of Kinder Morgan during the 1st quarter worth $25,000. Loomis Sayles & Co. L P lifted its stake in shares of Kinder Morgan by 64.9% during the 1st quarter. Loomis Sayles & Co. L P now owns 1,707 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 672 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Kinder Morgan by 368.9% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,721 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 1,354 shares during the last quarter. BerganKDV Wealth Management LLC lifted its stake in shares of Kinder Morgan by 901.2% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 1,652 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 1,487 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of Kinder Morgan by 132.4% during the 2nd quarter. Jones Financial Companies Lllp now owns 1,901 shares of the pipeline company’s stock worth $35,000 after purchasing an additional 1,083 shares during the last quarter. 59.33% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP John W. Schlosser sold 4,500 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, October 12th. The stock was sold at an average price of $18.00, for a total transaction of $81,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas A. Martin sold 66,607 shares of Kinder Morgan stock in a transaction on Friday, August 6th. The shares were sold at an average price of $17.08, for a total value of $1,137,647.56. The disclosure for this sale can be found here. Company insiders own 14.22% of the company’s stock.
Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Tuesday, July 20th. The pipeline company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.04. Kinder Morgan had a return on equity of 9.34% and a net margin of 11.91%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the business posted $0.17 earnings per share. The firm’s revenue was up 23.0% compared to the same quarter last year. As a group, analysts expect that Kinder Morgan, Inc. will post 1.3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Investors of record on Monday, August 2nd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $1.08 dividend on an annualized basis and a yield of 6.01%. Kinder Morgan’s payout ratio is 122.73%.
KMI has been the subject of a number of analyst reports. Piper Sandler upped their price objective on Kinder Morgan from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, June 17th. Mizuho upped their price objective on Kinder Morgan from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, July 22nd. Finally, Bank of America began coverage on Kinder Morgan in a research note on Tuesday, September 28th. They set a “neutral” rating for the company. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kinder Morgan presently has an average rating of “Hold” and an average price target of $16.93.
About Kinder Morgan
Kinder Morgan, Inc operates as an energy infrastructure company. The firm engages in the operation of pipelines and terminals that transport natural gas, gasoline, crude oil, carbon dioxide (CO2) and other products and stores petroleum products chemicals and handles bulk materials like ethanol, coal, petroleum coke and steel.
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