Kinder Morgan, Inc. (NYSE:KMI) Holdings Reduced by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT lowered its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,766,312 shares of the pipeline company’s stock after selling 141,654 shares during the quarter. Kinder Morgan accounts for about 3.2% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 7th biggest holding. Sound Shore Management Inc. CT owned 0.21% of Kinder Morgan worth $94,707,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. True Wealth Design LLC boosted its holdings in shares of Kinder Morgan by 3,655.3% during the 4th quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 1,389 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in Kinder Morgan in the 1st quarter worth approximately $30,000. Redmont Wealth Advisors LLC purchased a new stake in Kinder Morgan during the 1st quarter valued at $31,000. OFI Invest Asset Management bought a new position in shares of Kinder Morgan during the 1st quarter valued at $31,000. Finally, AlphaMark Advisors LLC boosted its stake in shares of Kinder Morgan by 92.5% in the 2nd quarter. AlphaMark Advisors LLC now owns 1,925 shares of the pipeline company’s stock worth $38,000 after buying an additional 925 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Trading Up 0.9 %

Shares of KMI stock opened at $21.79 on Friday. The company has a market cap of $48.36 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 2.90 and a beta of 0.93. Kinder Morgan, Inc. has a 1 year low of $15.89 and a 1 year high of $21.88. The stock’s 50 day simple moving average is $21.16 and its two-hundred day simple moving average is $19.71. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28.

Kinder Morgan (NYSE:KMI) last released 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). The company 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 posted $0.24 EPS. Research analysts predict that Kinder Morgan, Inc. will post 1.19 earnings per share for the current year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a dividend of $0.2875 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.28%. Kinder Morgan’s dividend payout ratio is presently 104.55%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KMI. JPMorgan Chase & Co. raised their target price on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Stifel Nicolaus upped their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Barclays boosted their price objective on shares of Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $18.00 to $22.00 in a research report on Tuesday, June 4th. Finally, Truist Financial upped their price target on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.55.

Insider Buying and Selling

In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the transaction, the president now owns 916,773 shares in the company, valued at $19,261,400.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Sital K. Mody sold 25,169 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 100,000 shares of the business’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 completion of the sale, the president now directly owns 916,773 shares of the company’s stock, valued at $19,261,400.73. The disclosure for this sale can be found here. Insiders have sold 148,311 shares of company stock valued at $3,121,891 in the last ninety days. 12.64% of the stock is owned by company insiders.

Kinder Morgan 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.