Advisors Asset Management Inc. Sells 32,659 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Advisors Asset Management Inc. trimmed its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 12.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 219,634 shares of the pipeline company’s stock after selling 32,659 shares during the quarter. Advisors Asset Management Inc.’s holdings in Kinder Morgan were worth $4,852,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in shares of Kinder Morgan in the third quarter valued at about $28,000. Planning Capital Management Corp raised its holdings in shares of Kinder Morgan by 143.6% in the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock valued at $30,000 after buying an additional 797 shares during the last quarter. HM Payson & Co. raised its holdings in shares of Kinder Morgan by 401.8% in the third 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 during the last quarter. HWG Holdings LP bought a new position in shares of Kinder Morgan in the second quarter valued at about $30,000. Finally, ZRC Wealth Management LLC bought a new position in shares of Kinder Morgan in the third quarter valued at about $36,000. 62.52% of the stock is owned by institutional investors.

Insider Activity at Kinder Morgan

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 legal filing with the SEC, which is available through this link. Also, Director Amy W. Chronis purchased 2,241 shares of Kinder Morgan stock in a transaction on Tuesday, November 5th. The shares were purchased at an average cost of $24.89 per share, with a total value of $55,778.49. Following the transaction, the director now owns 23,995 shares in the company, valued at approximately $597,235.55. The trade was a 10.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.64% of the stock is owned by insiders.

Kinder Morgan Price Performance

Shares of KMI opened at $28.57 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. The stock has a 50 day simple moving average of $24.41 and a 200 day simple moving average of $21.73. Kinder Morgan, Inc. has a 52-week low of $16.47 and a 52-week high of $28.67. The firm has a market capitalization of $63.46 billion, a PE ratio of 25.06, a P/E/G ratio of 3.86 and a beta of 0.91.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (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 during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Kinder Morgan’s revenue for the quarter was down 5.3% compared to the same quarter last year. Sell-side analysts predict that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were given a $0.2875 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.03%. Kinder Morgan’s dividend payout ratio is presently 100.88%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KMI. Truist Financial boosted their price objective on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Morgan Stanley set a $26.00 price objective on Kinder Morgan in a report on Friday, October 18th. Royal Bank of Canada boosted their price objective on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Barclays boosted their price objective on Kinder Morgan from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company boosted their price objective on Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.36.

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.