Cottage Street Advisors LLC Trims Holdings in Kinder Morgan Inc (NYSE:KMI)

Cottage Street Advisors LLC trimmed its position in Kinder Morgan Inc (NYSE:KMI) by 18.9% during the third quarter, Holdings Channel.com reports. The firm owned 12,900 shares of the pipeline company’s stock after selling 3,000 shares during the period. Cottage Street Advisors LLC’s holdings in Kinder Morgan were worth $266,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in KMI. Ingalls & Snyder LLC lifted its holdings in shares of Kinder Morgan by 12.3% during the 2nd quarter. Ingalls & Snyder LLC now owns 114,793 shares of the pipeline company’s stock worth $2,397,000 after acquiring an additional 12,569 shares during the period. Chesapeake Wealth Management purchased a new position in shares of Kinder Morgan during the 2nd quarter worth about $810,000. Lee Financial Co lifted its holdings in shares of Kinder Morgan by 1.1% during the 2nd quarter. Lee Financial Co now owns 75,678 shares of the pipeline company’s stock worth $1,580,000 after acquiring an additional 812 shares during the period. Contravisory Investment Management Inc. lifted its holdings in shares of Kinder Morgan by 22.7% during the 3rd quarter. Contravisory Investment Management Inc. now owns 4,128 shares of the pipeline company’s stock worth $85,000 after acquiring an additional 765 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Kinder Morgan by 9.5% during the 2nd quarter. Jennison Associates LLC now owns 3,091,779 shares of the pipeline company’s stock worth $64,556,000 after acquiring an additional 268,800 shares during the period. Institutional investors own 61.77% of the company’s stock.

In other news, insider Richard D. Kinder acquired 300,000 shares of the stock in a transaction on Monday, August 26th. The stock was bought at an average price of $19.76 per share, with a total value of $5,928,000.00. Following the completion of the transaction, the insider now directly owns 241,879,496 shares of the company’s stock, valued at $4,779,538,840.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dax Sanders sold 71,944 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $20.05, for a total transaction of $1,442,477.20. Following the completion of the sale, the vice president now directly owns 204,605 shares of the company’s stock, valued at approximately $4,102,330.25. The disclosure for this sale can be found here. In the last three months, insiders have purchased 705,000 shares of company stock valued at $14,007,550. Corporate insiders own 13.95% of the company’s stock.

Several research analysts have recently weighed in on the stock. Goldman Sachs Group lowered shares of Kinder Morgan from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Thursday. Wolfe Research upgraded shares of Kinder Morgan from an “underperform” rating to a “peer perform” rating in a report on Thursday, August 22nd. SunTrust Banks cut their price objective on shares of Kinder Morgan from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. BMO Capital Markets lowered shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $22.00 price objective on the stock. in a report on Monday, July 29th. Finally, Scotiabank assumed coverage on shares of Kinder Morgan in a report on Tuesday, September 3rd. They set a “sector perform” rating and a $23.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $21.98.

KMI traded down $0.23 on Friday, reaching $20.22. 2,739,499 shares of the company’s stock were exchanged, compared to its average volume of 10,104,289. The company’s 50 day moving average is $20.42 and its 200-day moving average is $20.35. The company has a market cap of $46.21 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 4.27 and a beta of 0.81. Kinder Morgan Inc has a twelve month low of $14.62 and a twelve month high of $21.50. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.33 and a current ratio of 0.35.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, October 16th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.02). The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.51 billion. Kinder Morgan had a return on equity of 6.25% and a net margin of 15.21%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.21 EPS. Sell-side analysts forecast that Kinder Morgan Inc will post 0.96 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date of this dividend is Wednesday, October 30th. Kinder Morgan’s dividend payout ratio (DPR) is presently 112.36%.

Kinder Morgan Profile

Kinder Morgan, Inc operates as an energy infrastructure company 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 and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.

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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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