Ritholtz Wealth Management Sells 1,703 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Ritholtz Wealth Management lessened its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 7.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,705 shares of the pipeline company’s stock after selling 1,703 shares during the quarter. Ritholtz Wealth Management’s holdings in Kinder Morgan were worth $502,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in KMI. Vanguard Group Inc. boosted its stake in shares of Kinder Morgan by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock valued at $3,665,963,000 after purchasing an additional 27,254,172 shares during the last quarter. Castle Hook Partners LP increased its stake in shares of Kinder Morgan by 108.2% in the 1st quarter. Castle Hook Partners LP now owns 7,799,826 shares of the pipeline company’s stock valued at $143,049,000 after acquiring an additional 4,053,793 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in shares of Kinder Morgan by 45.9% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock valued at $182,665,000 after acquiring an additional 3,135,457 shares during the period. Duquesne Family Office LLC boosted its stake in Kinder Morgan by 74.0% during the 2nd quarter. Duquesne Family Office LLC now owns 6,753,165 shares of the pipeline company’s stock worth $134,185,000 after acquiring an additional 2,872,665 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Kinder Morgan by 23.6% during the first quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock valued at $204,319,000 after purchasing an additional 2,125,648 shares during the period. Institutional investors own 62.52% of the company’s stock.

Insider Activity

In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction on 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 sale, the president now directly owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, 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 transaction, the president now directly owns 916,773 shares in the company, valued at $19,261,400.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sital K. Mody sold 21,413 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the sale, the vice president now owns 25,169 shares of the company’s stock, valued at $534,841.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,311 shares of company stock valued at $3,121,891. 12.64% of the stock is owned by insiders.

Kinder Morgan Price Performance

Shares of NYSE KMI opened at $24.75 on Wednesday. Kinder Morgan, Inc. has a fifty-two week low of $15.91 and a fifty-two week high of $25.02. The stock has a market capitalization of $54.93 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 3.27 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The business has a 50-day moving average of $21.88 and a 200-day moving average of $20.36.

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 analysts’ consensus estimates of $0.26 by ($0.01). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KMI. 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 report on Wednesday, July 17th. Stifel Nicolaus boosted their target price on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Truist Financial increased their target price on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Bank of America raised shares of Kinder Morgan from a “neutral” rating to a “buy” rating and lifted their price target for the company from $23.00 to $27.00 in a research note on Friday, October 11th. Finally, Morgan Stanley upgraded shares of Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price objective on the stock in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.18.

Kinder Morgan Company 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.