Moneta Group Investment Advisors LLC lowered its position in Kinder Morgan Inc (NYSE:KMI) by 81.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,069 shares of the pipeline company’s stock after selling 36,309 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Kinder Morgan were worth $906,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Comerica Securities Inc. acquired a new position in shares of Kinder Morgan during the fourth quarter worth $241,000. Geode Capital Management LLC raised its holdings in shares of Kinder Morgan by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 23,513,119 shares of the pipeline company’s stock worth $360,962,000 after buying an additional 1,758,792 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Kinder Morgan by 74.8% during the first quarter. Janus Henderson Group PLC now owns 1,149,146 shares of the pipeline company’s stock worth $22,992,000 after buying an additional 491,833 shares during the period. Victory Capital Management Inc. lifted its position in Kinder Morgan by 1.9% during the 1st quarter. Victory Capital Management Inc. now owns 28,517 shares of the pipeline company’s stock worth $571,000 after acquiring an additional 530 shares during the period. Finally, Kovack Advisors Inc. lifted its holdings in shares of Kinder Morgan by 11.1% during the first quarter. Kovack Advisors Inc. now owns 11,562 shares of the pipeline company’s stock worth $231,000 after purchasing an additional 1,154 shares during the period. Hedge funds and other institutional investors own 61.76% of the company’s stock.
Shares of NYSE:KMI traded up $0.18 during trading on Wednesday, reaching $20.41. The stock had a trading volume of 276,840 shares, compared to its average volume of 11,326,961. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.33 and a current ratio of 0.41. Kinder Morgan Inc has a 1-year low of $14.62 and a 1-year high of $21.50. The stock has a market cap of $46.20 billion, a PE ratio of 22.94, a PEG ratio of 4.28 and a beta of 0.82. The business has a fifty day moving average price of $20.29 and a 200-day moving average price of $20.22.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.00 dividend on an annualized basis and a yield of 4.90%. Kinder Morgan’s payout ratio is presently 112.36%.
Several equities analysts recently weighed in on KMI shares. Scotia Howard Weill initiated coverage on shares of Kinder Morgan in a report on Tuesday, September 3rd. They issued a “sector perform” rating and a $23.00 price target on the stock. Johnson Rice initiated coverage on shares of Kinder Morgan in a research note on Thursday, May 30th. They set a “hold” rating and a $21.00 price objective for the company. Argus downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine lowered shares of Kinder Morgan from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Raymond James cut shares of Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 target price for the company. in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Kinder Morgan currently has a consensus rating of “Hold” and an average price target of $21.91.
In other news, insider Richard D. Kinder purchased 400,000 shares of Kinder Morgan stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $19.95 per share, with a total value of $7,980,000.00. Following the transaction, the insider now owns 241,579,496 shares in the company, valued at $4,819,510,945.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, VP Dax Sanders sold 71,944 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $20.05, for a total value of $1,442,477.20. Following the completion of the transaction, the vice president now owns 204,605 shares in the company, valued at $4,102,330.25. The disclosure for this sale can be found here. Insiders have purchased 705,000 shares of company stock worth $14,007,550 over the last 90 days. 13.95% of the stock is currently owned by company insiders.
About Kinder Morgan
Kinder Morgan, Inc operates as an energy infrastructure company 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 and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.
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