Balboa Wealth Partners Reduces Position in Kinder Morgan, Inc. (NYSE:KMI)

Balboa Wealth Partners cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 49.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,131 shares of the pipeline company’s stock after selling 9,872 shares during the quarter. Balboa Wealth Partners’ holdings in Kinder Morgan were worth $289,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hurley Capital LLC acquired a new position in Kinder Morgan in the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new position in Kinder Morgan in the fourth quarter valued at approximately $26,000. Morse Asset Management Inc purchased a new position in Kinder Morgan in the fourth quarter worth approximately $27,000. Heck Capital Advisors LLC acquired a new stake in Kinder Morgan during the fourth quarter worth $29,000. Finally, SRS Capital Advisors Inc. increased its stake in Kinder Morgan by 178.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,098 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 703 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Price Performance

Kinder Morgan stock opened at $28.57 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 0.45 and a debt-to-equity ratio of 0.94. Kinder Morgan, Inc. has a 52-week low of $19.47 and a 52-week high of $31.48. The firm has a market cap of $63.49 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 3.08 and a beta of 0.74. The company’s 50 day moving average is $27.50 and its two-hundred day moving average is $27.44.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. Kinder Morgan had a return on equity of 8.11% and a net margin of 16.67%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.02 billion. On average, research analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Wednesday, April 30th. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s dividend payout ratio (DPR) is presently 100.86%.

Insider Transactions at Kinder Morgan

In related news, President Thomas A. Martin sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $27.57, for a total value of $496,260.00. Following the sale, the president now owns 789,652 shares of the company’s stock, valued at $21,770,705.64. This trade represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 54,000 shares of company stock valued at $1,522,440. 12.73% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KMI. Barclays increased their price target on Kinder Morgan from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday. Scotiabank increased their target price on shares of Kinder Morgan from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. lifted their price target on shares of Kinder Morgan from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Stifel Nicolaus upped their price objective on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Kinder Morgan in a report on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.29.

About Kinder Morgan

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.