Linscomb Wealth Inc. Cuts Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Linscomb Wealth Inc. lowered its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 472,233 shares of the pipeline company’s stock after selling 11,630 shares during the quarter. Linscomb Wealth Inc.’s holdings in Kinder Morgan were worth $10,432,000 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 business. Vanguard Group Inc. raised its stake in shares of Kinder Morgan by 15.8% during the 1st quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock worth $3,665,963,000 after purchasing an additional 27,254,172 shares during the period. Dimensional Fund Advisors LP lifted its stake in Kinder Morgan by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 16,904,252 shares of the pipeline company’s stock valued at $335,891,000 after purchasing an additional 257,658 shares during the last quarter. Clearbridge Investments LLC increased its position in Kinder Morgan by 23.6% in the first quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock worth $204,319,000 after buying an additional 2,125,648 shares during the last quarter. Energy Income Partners LLC increased its position in Kinder Morgan by 2.6% in the first quarter. Energy Income Partners LLC now owns 10,717,452 shares of the pipeline company’s stock worth $196,558,000 after buying an additional 272,648 shares during the last quarter. Finally, First Pacific Advisors LP lifted its position in shares of Kinder Morgan by 2.0% during the 2nd quarter. First Pacific Advisors LP now owns 8,198,954 shares of the pipeline company’s stock valued at $162,913,000 after buying an additional 163,294 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Activity

In other Kinder Morgan news, Director C Park Shaper sold 690,142 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the transaction, the director now owns 6,809,858 shares of the company’s stock, valued at $168,543,985.50. This represents a 9.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Thomas A. Martin sold 19,121 shares of the business’s 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 transaction, the president now directly owns 897,652 shares in the company, valued at $23,590,294.56. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Bank of America began coverage on Kinder Morgan in a research note on Thursday, October 17th. They issued a “buy” rating and a $27.00 price objective on the stock. Royal Bank of Canada lifted their price objective on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. Truist Financial increased their target price on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. UBS Group boosted their price objective on Kinder Morgan from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group reissued a “conviction-buy” rating on shares of Kinder Morgan in a report on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Kinder Morgan presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.09.

Kinder Morgan Price Performance

NYSE:KMI traded up $0.21 during mid-day trading on Friday, reaching $26.97. The stock had a trading volume of 2,172,220 shares, compared to its average volume of 13,826,185. The stock has a market capitalization of $59.92 billion, a P/E ratio of 23.69, a P/E/G ratio of 3.69 and a beta of 0.91. Kinder Morgan, Inc. has a one year low of $16.47 and a one year high of $27.58. The firm has a 50 day moving average price of $23.72 and a two-hundred day moving average price of $21.40. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the business earned $0.25 EPS. Kinder Morgan’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, analysts expect that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The business 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. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 annualized dividend and a yield of 4.26%. Kinder Morgan’s payout ratio is currently 100.88%.

Kinder Morgan 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.