Essex LLC Sells 2,300 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Essex LLC lowered its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,571 shares of the pipeline company’s stock after selling 2,300 shares during the quarter. Essex LLC’s holdings in Kinder Morgan were worth $918,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Cyndeo Wealth Partners LLC raised its stake in Kinder Morgan by 9.8% in the third quarter. Cyndeo Wealth Partners LLC now owns 302,341 shares of the pipeline company’s stock worth $6,679,000 after buying an additional 27,059 shares in the last quarter. Wealth Alliance Advisory Group LLC bought a new position in shares of Kinder Morgan in the 3rd quarter worth $202,000. Everett Harris & Co. CA lifted its stake in shares of Kinder Morgan by 2.5% during the 3rd quarter. Everett Harris & Co. CA now owns 164,595 shares of the pipeline company’s stock worth $3,636,000 after purchasing an additional 4,000 shares during the last quarter. Schubert & Co bought a new stake in Kinder Morgan during the third quarter valued at about $446,000. Finally, First Citizens Bank & Trust Co. grew its stake in Kinder Morgan by 74.2% in the third quarter. First Citizens Bank & Trust Co. now owns 657,248 shares of the pipeline company’s stock valued at $14,519,000 after purchasing an additional 279,964 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Up 0.5 %

Shares of KMI stock opened at $24.95 on Friday. Kinder Morgan, Inc. has a fifty-two week low of $15.91 and a fifty-two week high of $25.43. The firm has a market capitalization of $55.37 billion, a PE ratio of 22.68, a P/E/G ratio of 3.27 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.37. The stock’s 50-day simple moving average is $22.12 and its 200-day simple moving average is $20.48.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the company posted $0.25 EPS. Kinder Morgan’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities analysts expect that Kinder Morgan, Inc. will post 1.19 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given 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 yield of 4.61%. Kinder Morgan’s dividend payout ratio is presently 104.55%.

Insider Buying and Selling at Kinder Morgan

In other news, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was 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 $19,261,400.73. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction that occurred 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 sale, the president now owns 916,773 shares of the company’s stock, valued at $19,261,400.73. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the transaction, the vice president now owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,311 shares of company stock valued at $3,121,891. 12.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Argus upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Friday, July 19th. Morgan Stanley set a $26.00 target price on shares of Kinder Morgan in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Barclays increased their price objective on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Finally, Scotiabank boosted their target price on Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.27.

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.