Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC cut its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,784 shares of the pipeline company’s stock after selling 5,600 shares during the period. Cornerstone Advisors LLC’s holdings in Kinder Morgan were worth $2,758,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in KMI. Independent Advisor Alliance raised its holdings in shares of Kinder Morgan by 13.8% in the fourth quarter. Independent Advisor Alliance now owns 65,100 shares of the pipeline company’s stock worth $1,148,000 after buying an additional 7,912 shares during the last quarter. LSV Asset Management acquired a new position in shares of Kinder Morgan in the first quarter valued at about $8,818,000. Brevan Howard Capital Management LP purchased a new position in shares of Kinder Morgan in the fourth quarter worth about $2,101,000. Duality Advisers LP lifted its holdings in shares of Kinder Morgan by 42.7% during the first quarter. Duality Advisers LP now owns 317,425 shares of the pipeline company’s stock worth $5,822,000 after purchasing an additional 94,984 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in Kinder Morgan by 221.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 251,635 shares of the pipeline company’s stock valued at $4,615,000 after buying an additional 173,313 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Trading Up 1.6 %

Shares of KMI stock opened at $21.47 on Tuesday. Kinder Morgan, Inc. has a fifty-two week low of $15.89 and a fifty-two week high of $21.86. The firm has a market capitalization of $47.65 billion, a P/E ratio of 19.52, a PEG ratio of 2.90 and a beta of 0.93. The stock’s fifty day moving average is $21.04 and its two-hundred day moving average is $19.63. 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 (NYSE:KMI) last posted its quarterly earnings results 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 return on equity of 7.89% and a net margin of 15.93%. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Research analysts expect that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were given a dividend of $0.2875 per share. 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 payout ratio is 104.55%.

Insiders Place Their Bets

In related news, VP Dax Sanders sold 1,729 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 307,409 shares in the company, valued at $6,455,589. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Sital K. Mody sold 21,413 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the sale, the vice president now owns 25,169 shares in the company, valued at approximately $534,841.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the transaction, the vice president now owns 307,409 shares of the company’s stock, valued at $6,455,589. The disclosure for this sale can be found here. Insiders have sold 148,311 shares of company stock valued at $3,121,891 over the last ninety days. Company insiders own 12.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on KMI. Royal Bank of Canada increased their price target on Kinder Morgan from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 30th. Wells Fargo & Company raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $18.00 to $22.00 in a research note on Tuesday, June 4th. UBS Group boosted their target price on shares of Kinder Morgan from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Truist Financial lifted their price objective on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Tudor Pickering upgraded shares of Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.55.

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.