Kinder Morgan, Inc. $KMI Stock: Parcion Private Wealth LLC Cuts Stake

by · The Markets Daily

Parcion Private Wealth LLC lowered its position in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 54.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 13,620 shares of the pipeline company’s stock after selling 16,591 shares during the period. Parcion Private Wealth LLC’s holdings in Kinder Morgan were worth $411,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Kinder Morgan by 1.1% during the 2nd quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company’s stock valued at $5,621,421,000 after buying an additional 1,875,143 shares in the last quarter. State Street Corp grew its stake in Kinder Morgan by 4.3% in the 2nd quarter. State Street Corp now owns 130,863,419 shares of the pipeline company’s stock valued at $4,183,704,000 after buying an additional 5,361,578 shares in the last quarter. Bank of America Corp DE raised its holdings in Kinder Morgan by 1.4% during the 1st quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company’s stock valued at $2,079,477,000 after acquiring an additional 836,571 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Kinder Morgan by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 17,237,384 shares of the pipeline company’s stock worth $577,998,000 after acquiring an additional 448,130 shares during the period. Finally, Amundi boosted its holdings in shares of Kinder Morgan by 5.8% in the first quarter. Amundi now owns 15,130,700 shares of the pipeline company’s stock worth $507,332,000 after acquiring an additional 831,125 shares during the period. 62.52% of the stock is currently owned by institutional investors.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, VP Michael Garthwaite sold 1,550 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $33.65, for a total transaction of $52,157.50. Following the transaction, the vice president directly owned 47,313 shares in the company, valued at $1,592,082.45. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Scotiabank boosted their price objective on Kinder Morgan from $32.00 to $34.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 27th. Argus lifted their target price on Kinder Morgan from $36.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Stifel Nicolaus began coverage on shares of Kinder Morgan in a research report on Wednesday, September 9th. They issued a “hold” rating and a $35.00 price objective for the company. Citigroup boosted their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Finally, Melius Research started coverage on shares of Kinder Morgan in a report on Tuesday, September 22nd. They set a “buy” rating and a $38.00 target price on the stock. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.15.

View Our Latest Stock Analysis on Kinder Morgan

Kinder Morgan Trading Up 0.1%

Shares of Kinder Morgan stock opened at $33.90 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.55. Kinder Morgan, Inc. has a 1 year low of $25.60 and a 1 year high of $34.81. The firm has a market cap of $75.52 billion, a PE ratio of 20.93, a PEG ratio of 2.36 and a beta of 0.59. The company has a 50 day simple moving average of $32.06 and a two-hundred day simple moving average of $32.03.

Kinder Morgan (NYSE:KMI – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. Kinder Morgan had a net margin of 19.64% and a return on equity of 10.84%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter last year, the company posted $0.29 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Analysts expect that Kinder Morgan, Inc. will post 1.57 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a $0.2975 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.19 dividend on an annualized basis and a yield of 3.5%. Kinder Morgan’s payout ratio is presently 73.46%.

About Kinder Morgan

(Free Report)

Kinder Morgan, Inc (NYSE: KMI) is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.

The company’s natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.

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