LPL Financial LLC Buys 408,751 Shares of Kinder Morgan, Inc. (NYSE:KMI)

LPL Financial LLC boosted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 13.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,564,160 shares of the pipeline company’s stock after purchasing an additional 408,751 shares during the quarter. LPL Financial LLC owned about 0.16% of Kinder Morgan worth $70,820,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its position in Kinder Morgan by 0.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock worth $3,295,000 after purchasing an additional 530 shares during the period. Premier Path Wealth Partners LLC grew its stake in shares of Kinder Morgan by 1.4% in the second quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock worth $785,000 after acquiring an additional 545 shares during the last quarter. Newman Dignan & Sheerar Inc. grew its stake in shares of Kinder Morgan by 4.3% in the first quarter. Newman Dignan & Sheerar Inc. now owns 13,173 shares of the pipeline company’s stock worth $242,000 after acquiring an additional 547 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Kinder Morgan by 4.4% in the second quarter. First Horizon Advisors Inc. now owns 13,415 shares of the pipeline company’s stock worth $267,000 after acquiring an additional 566 shares during the last quarter. Finally, Simplicity Wealth LLC grew its stake in shares of Kinder Morgan by 2.2% in the second quarter. Simplicity Wealth LLC now owns 27,478 shares of the pipeline company’s stock worth $546,000 after acquiring an additional 586 shares during the last quarter. Institutional investors own 62.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company upgraded 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. Barclays raised their price objective on shares of Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday. Scotiabank lifted their price target on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Stifel Nicolaus lifted their price target on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, Tudor Pickering upgraded shares of Kinder Morgan to a “strong-buy” rating in a research note on Thursday, May 30th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.40.

Insider Activity at Kinder Morgan

In related news, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction dated 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 of the company’s stock, valued at $6,455,589. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following 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 sold 148,311 shares of company stock valued at $3,121,891 over the last ninety days. 12.64% of the stock is owned by insiders.

Kinder Morgan Stock Up 1.0 %

Shares of NYSE KMI opened at $21.14 on Friday. The stock has a market cap of $46.92 billion, a PE ratio of 19.22, a PEG ratio of 2.90 and a beta of 0.93. The business has a fifty day moving average of $21.01 and a two-hundred day moving average of $19.57. Kinder Morgan, Inc. has a 52-week low of $15.89 and a 52-week high of $21.86. 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 issued its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $4.13 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. As a group, equities research analysts expect that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a $0.2875 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.44%. Kinder Morgan’s dividend payout ratio is 104.55%.

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.