Pinnacle Associates Ltd. Boosts Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Pinnacle Associates Ltd. raised its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 12.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,665 shares of the pipeline company’s stock after purchasing an additional 13,823 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Kinder Morgan were worth $2,754,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Kinder Morgan in the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC purchased a new position in Kinder Morgan in the first quarter worth $30,000. HWG Holdings LP acquired a new stake in Kinder Morgan in the second quarter valued at $30,000. Strategic Financial Concepts LLC purchased a new stake in shares of Kinder Morgan during the 2nd quarter worth $31,000. Finally, ZRC Wealth Management LLC acquired a new position in shares of Kinder Morgan during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Buying and Selling at Kinder Morgan

In other news, VP Dax Sanders sold 1,729 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total transaction of $36,309.00. Following the transaction, the vice president now directly owns 307,409 shares in the company, valued at $6,455,589. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Kinder Morgan news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the sale, the director now owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of the firm’s 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 owns 307,409 shares in the company, valued at approximately $6,455,589. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.64% of the stock is owned by company insiders.

Kinder Morgan Stock Performance

Shares of NYSE KMI opened at $24.51 on Friday. The company has a 50-day simple moving average of $22.79 and a 200-day simple moving average of $20.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.28. The company has a market cap of $54.40 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 3.06 and a beta of 0.93. Kinder Morgan, Inc. has a 12 month low of $16.06 and a 12 month high of $25.43.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the previous year, the firm posted $0.25 earnings per share. The firm’s revenue was down 5.3% on a year-over-year basis. On average, equities analysts anticipate that Kinder Morgan, Inc. will post 1.19 earnings per share for the current year.

Kinder Morgan Dividend Announcement

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 $0.2875 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 annualized dividend and a yield of 4.69%. Kinder Morgan’s dividend payout ratio (DPR) is presently 104.55%.

Analyst Ratings Changes

A number of analysts recently commented on KMI shares. Wells Fargo & Company boosted their price objective on shares of Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Truist Financial upped their price target on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. The Goldman Sachs Group reaffirmed a “conviction-buy” rating on shares of Kinder Morgan in a report on Friday, October 18th. Finally, Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Friday, July 19th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.91.

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.