Grimes & Company Inc. Acquires 832 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Grimes & Company Inc. lifted its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 6.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,410 shares of the pipeline company’s stock after acquiring an additional 832 shares during the period. Grimes & Company Inc.’s holdings in Kinder Morgan were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Beese Fulmer Investment Management Inc. boosted its stake in shares of Kinder Morgan by 3.7% in the third quarter. Beese Fulmer Investment Management Inc. now owns 27,693 shares of the pipeline company’s stock worth $612,000 after acquiring an additional 1,000 shares during the period. Keene & Associates Inc. boosted its stake in shares of Kinder Morgan by 0.6% in the third quarter. Keene & Associates Inc. now owns 173,885 shares of the pipeline company’s stock worth $3,841,000 after acquiring an additional 1,110 shares during the period. International Assets Investment Management LLC boosted its stake in Kinder Morgan by 1,849.7% during the third quarter. International Assets Investment Management LLC now owns 2,164,637 shares of the pipeline company’s stock valued at $47,817,000 after buying an additional 2,053,612 shares during the last quarter. Greenleaf Trust boosted its stake in Kinder Morgan by 4.6% during the third quarter. Greenleaf Trust now owns 59,711 shares of the pipeline company’s stock valued at $1,319,000 after buying an additional 2,635 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new position in Kinder Morgan during the third quarter valued at approximately $240,000. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Trading Up 0.9 %

Shares of NYSE KMI opened at $24.99 on Friday. 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 business’s 50 day moving average price is $22.35 and its 200-day moving average price is $20.61. Kinder Morgan, Inc. has a fifty-two week low of $15.91 and a fifty-two week high of $25.43. The company has a market cap of $55.46 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 3.27 and a beta of 0.93.

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 analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, sell-side analysts expect that Kinder Morgan, Inc. will post 1.19 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.2875 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.15 annualized dividend and a yield of 4.60%. Kinder Morgan’s payout ratio is currently 104.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KMI shares. Bank of America started coverage on Kinder Morgan in a research note on Thursday, October 17th. They set a “buy” rating and a $27.00 price target for the company. JPMorgan Chase & Co. increased their price target on Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Friday, July 19th. Truist Financial increased their price target on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Finally, Scotiabank upped their price objective on Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Eight 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.91.

Insiders Place Their Bets

In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.04, for a total transaction of $529,555.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.04, for a total transaction of $529,555.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the transaction, the vice president now owns 307,409 shares in the company, valued at $6,455,589. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 817,040 shares of company stock worth $19,747,879 in the last ninety days. 12.64% of the stock is owned by company insiders.

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.