Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT reduced its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 11.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,820,545 shares of the pipeline company’s stock after selling 357,750 shares during the period. Kinder Morgan makes up approximately 4.6% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 8th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Kinder Morgan were worth $62,306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SignalPoint Asset Management LLC boosted its position in Kinder Morgan by 1.5% during the third quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock worth $655,000 after purchasing an additional 447 shares in the last quarter. Trust Co. of Oklahoma increased its holdings in Kinder Morgan by 1.5% during the 3rd quarter. Trust Co. of Oklahoma now owns 33,586 shares of the pipeline company’s stock valued at $742,000 after acquiring an additional 486 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Kinder Morgan by 0.3% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock worth $3,295,000 after purchasing an additional 530 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in shares of Kinder Morgan by 1.4% in the second quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock valued at $785,000 after acquiring an additional 545 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Kinder Morgan by 4.4% during the second quarter. First Horizon Advisors Inc. now owns 13,415 shares of the pipeline company’s stock valued at $267,000 after buying an additional 566 shares during the period. 62.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KMI shares. JPMorgan Chase & Co. boosted their price target on Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. UBS Group increased their target price on Kinder Morgan from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group restated a “conviction-buy” rating on shares of Kinder Morgan in a report on Friday. Bank of America began coverage on shares of Kinder Morgan in a report on Thursday, October 17th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, Royal Bank of Canada upped their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.91.

Kinder Morgan Trading Up 0.6 %

Shares of Kinder Morgan stock traded up $0.15 during trading hours on Tuesday, hitting $24.89. The company’s stock had a trading volume of 4,028,979 shares, compared to its average volume of 13,815,601. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $55.24 billion, a PE ratio of 22.47, a P/E/G ratio of 3.27 and a beta of 0.93. The business has a fifty day moving average of $22.19 and a 200 day moving average of $20.54. Kinder Morgan, Inc. has a 1-year low of $15.91 and a 1-year high of $25.43.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data 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 net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the business earned $0.25 earnings per share. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, equities analysts forecast that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is 104.55%.

Insider Activity

In related news, President Thomas A. Martin sold 100,000 shares of the firm’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 completion of the sale, the president now directly owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Sital K. Mody sold 25,169 shares of Kinder Morgan stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Thomas A. Martin sold 100,000 shares of Kinder Morgan stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the transaction, the president now owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,311 shares of company stock worth $3,121,891 over the last 90 days. Company insiders own 12.64% of the company’s stock.

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.