Accordant Advisory Group Inc Lowers Stake in Kinder Morgan, Inc. (NYSE:KMI)

by · The Markets Daily

Accordant Advisory Group Inc trimmed its holdings in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 51.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 37,885 shares of the pipeline company’s stock after selling 40,870 shares during the period. Accordant Advisory Group Inc’s holdings in Kinder Morgan were worth $837,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KMI. Leo Wealth LLC acquired a new stake in shares of Kinder Morgan during the third quarter worth $202,000. Signaturefd LLC lifted its stake in shares of Kinder Morgan by 11.0% in the 3rd quarter. Signaturefd LLC now owns 20,663 shares of the pipeline company’s stock worth $456,000 after acquiring an additional 2,056 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Kinder Morgan by 305.8% in the third quarter. Sequoia Financial Advisors LLC now owns 171,743 shares of the pipeline company’s stock valued at $3,794,000 after acquiring an additional 129,418 shares in the last quarter. Sweeney & Michel LLC acquired a new position in shares of Kinder Morgan during the third quarter worth about $2,223,000. Finally, Foundations Investment Advisors LLC raised its holdings in Kinder Morgan by 52.3% during the third quarter. Foundations Investment Advisors LLC now owns 42,475 shares of the pipeline company’s stock worth $938,000 after purchasing an additional 14,585 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Activity

In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of Kinder Morgan stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Sital K. Mody sold 25,169 shares of Kinder Morgan stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.04, for a total value of $529,555.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Thomas A. Martin sold 100,000 shares of the 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 transaction, the president now owns 916,773 shares in the company, valued at $19,261,400.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,898 shares of company stock valued at $2,666,865 over the last 90 days. Insiders own 12.64% of the company’s stock.

Kinder Morgan Trading Up 0.3 %

Shares of Kinder Morgan stock opened at $24.81 on Wednesday. Kinder Morgan, Inc. has a 1 year low of $15.91 and a 1 year high of $25.43. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The business has a 50 day moving average price of $22.27 and a 200 day moving average price of $20.58. The company has a market capitalization of $55.06 billion, a P/E ratio of 22.55, a P/E/G ratio of 3.27 and a beta of 0.93.

Kinder Morgan (NYSE:KMI – Get Free Report) 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). The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The firm’s revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. Sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.2875 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.64%. Kinder Morgan’s dividend payout ratio (DPR) is presently 104.55%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KMI shares. 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 report on Wednesday, July 17th. UBS Group upped their price objective on Kinder Morgan from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada increased their price objective on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Truist Financial upped their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus raised their price objective on shares of Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Kinder Morgan presently has an average rating of “Moderate Buy” and an average price target of $24.91.

Get Our Latest Stock Report on KMI

About Kinder Morgan

(Free Report)

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.

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