Oppenheimer & Co. Inc. Trims Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Oppenheimer & Co. Inc. lowered its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 11.1% in the third quarter, Holdings Channel.com reports. The fund owned 435,747 shares of the pipeline company’s stock after selling 54,211 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Kinder Morgan were worth $9,626,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in shares of Kinder Morgan during the third quarter valued at $28,000. HM Payson & Co. lifted its holdings in Kinder Morgan by 401.8% during the 3rd quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock valued at $32,000 after buying an additional 1,145 shares in the last quarter. HWG Holdings LP purchased a new stake in Kinder Morgan in the 2nd quarter valued at about $30,000. ZRC Wealth Management LLC bought a new position in Kinder Morgan in the 3rd quarter worth about $36,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Kinder Morgan during the first quarter worth approximately $30,000. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Trading Down 1.4 %

NYSE:KMI opened at $26.80 on Thursday. The stock has a market capitalization of $59.54 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 3.74 and a beta of 0.91. Kinder Morgan, Inc. has a 52 week low of $16.47 and a 52 week high of $27.58. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $23.51 and a 200 day moving average of $21.32.

Kinder Morgan (NYSE:KMI) last issued 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 16.76% and a return on equity of 7.87%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.2875 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.29%. Kinder Morgan’s payout ratio is 100.88%.

Insider Activity

In related news, President Thomas A. Martin sold 19,121 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the sale, the president now directly owns 897,652 shares in the company, valued at $23,590,294.56. 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 available at this link. In other news, Director Amy W. Chronis bought 2,241 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the purchase, the director now directly owns 23,995 shares of the company’s stock, valued at approximately $597,235.55. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Thomas A. Martin sold 19,121 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the sale, the president now owns 897,652 shares in the company, valued at approximately $23,590,294.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KMI. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Friday, July 19th. Royal Bank of Canada upped their target price on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group restated a “conviction-buy” rating on shares of Kinder Morgan in a research note on Friday, October 18th. Scotiabank lifted their price objective on Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Finally, Barclays increased their target price on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Eight research 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 company’s stock. According to MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and an average target price of $25.09.

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.