Covestor Ltd Sells 2,553 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Covestor Ltd reduced its position in Kinder Morgan, Inc. (NYSE:KMI) by 62.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,562 shares of the pipeline company’s stock after selling 2,553 shares during the quarter. Covestor Ltd’s holdings in Kinder Morgan were worth $35,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Kinder Morgan by 15.8% during the first quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock valued at $3,665,963,000 after purchasing an additional 27,254,172 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Kinder Morgan by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 16,904,252 shares of the pipeline company’s stock valued at $335,891,000 after buying an additional 257,658 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Kinder Morgan by 23.6% during the 1st quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock valued at $204,319,000 after buying an additional 2,125,648 shares in the last quarter. Energy Income Partners LLC boosted its holdings in shares of Kinder Morgan by 2.6% during the 1st quarter. Energy Income Partners LLC now owns 10,717,452 shares of the pipeline company’s stock valued at $196,558,000 after buying an additional 272,648 shares in the last quarter. Finally, First Pacific Advisors LP boosted its stake in Kinder Morgan by 2.0% in the 2nd quarter. First Pacific Advisors LP now owns 8,198,954 shares of the pipeline company’s stock worth $162,913,000 after purchasing an additional 163,294 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

Kinder Morgan Price Performance

Shares of NYSE KMI opened at $27.27 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 company has a market cap of $60.58 billion, a PE ratio of 23.66, a P/E/G ratio of 3.69 and a beta of 0.91. The business has a 50-day simple moving average of $23.72 and a two-hundred day simple moving average of $21.40. Kinder Morgan, Inc. has a fifty-two week low of $16.47 and a fifty-two week high of $27.58.

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). The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. Kinder Morgan’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. As a group, equities analysts expect that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Thursday, October 31st were issued a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date was Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is 100.88%.

Insider Buying and Selling

In other Kinder Morgan news, Director Amy W. Chronis acquired 2,241 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was acquired at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the transaction, the director now directly owns 23,995 shares of the company’s stock, valued at $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Thomas A. Martin sold 19,121 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the sale, the president now owns 897,652 shares of the company’s stock, valued at $23,590,294.56. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Argus upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Friday, July 19th. Barclays increased their target price on Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. UBS Group raised their price target on Kinder Morgan from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company raised their price target on Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.