61,869 Kinder Morgan, Inc. $KMI Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,519,749 shares of the pipeline company’s stock after selling 61,869 shares during the quarter. King Luther Capital Management Corp owned 0.11% of Kinder Morgan worth $75,970,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its position in Kinder Morgan by 1.1% in the second quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company’s stock valued at $5,621,421,000 after purchasing an additional 1,875,143 shares during the period. State Street Corp boosted its position in shares of Kinder Morgan by 4.3% during the second quarter. State Street Corp now owns 130,863,419 shares of the pipeline company’s stock worth $4,183,704,000 after buying an additional 5,361,578 shares during the period. Bank of America Corp DE boosted its position in shares of Kinder Morgan by 1.4% during the first quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company’s stock worth $2,079,477,000 after buying an additional 836,571 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Kinder Morgan by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 17,237,384 shares of the pipeline company’s stock valued at $577,998,000 after buying an additional 448,130 shares in the last quarter. Finally, Amundi grew its stake in shares of Kinder Morgan by 5.8% in the first quarter. Amundi now owns 15,130,700 shares of the pipeline company’s stock valued at $507,332,000 after buying an additional 831,125 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kinder Morgan

In related news, VP Michael Garthwaite sold 1,550 shares of the business’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $33.65, for a total transaction of $52,157.50. Following the completion of the transaction, the vice president directly owned 47,313 shares of the company’s stock, valued at $1,592,082.45. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Richard Kinder purchased 500,000 shares of the business’s stock in a transaction on Friday, November 6th. The shares were bought at an average price of $29.99 per share, for a total transaction of $14,995,000.00. Following the acquisition, the chairman owned 246,712,353 shares in the company, valued at $7,398,903,466.47. This trade represents a 0.20% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 9,300 shares of company stock worth $292,098. Company insiders own 12.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KMI. Wells Fargo & Company boosted their price objective on Kinder Morgan from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. raised their target price on Kinder Morgan from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. TD Cowen lifted their target price on Kinder Morgan from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. Capital One Financial began coverage on shares of Kinder Morgan in a research note on Tuesday, September 22nd. They set an “equal weight” rating and a $36.00 price target on the stock. Finally, Mizuho boosted their price target on shares of Kinder Morgan from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.15.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $31.57 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a 52 week low of $26.24 and a 52 week high of $34.81. The stock has a market capitalization of $70.32 billion, a PE ratio of 19.49, a P/E/G ratio of 2.17 and a beta of 0.58. The firm has a 50 day moving average of $32.02 and a two-hundred day moving average of $32.15.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 21st. The pipeline company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. Kinder Morgan had a net margin of 19.64% and a return on equity of 10.84%. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts predict that Kinder Morgan, Inc. will post 1.57 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a $0.2975 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.19 dividend on an annualized basis and a yield of 3.8%. Kinder Morgan’s dividend payout ratio (DPR) is 73.46%.

Kinder Morgan Profile

Kinder Morgan, Inc. (NYSE: KMI) is an energy infrastructure company that transports and stores natural gas, crude oil, refined petroleum products and other energy-related commodities. Its assets include pipelines, terminals and storage facilities serving energy producers, utilities, industrial customers and other markets across the United States and Canada. The company’s operations include natural gas transportation and storage, refined-products and crude-oil pipelines, bulk and liquids terminals, and carbon dioxide transportation.