Kinder Morgan, Inc. (NYSE:KMI) Stock Holdings Lessened by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its stake in Kinder Morgan, Inc. (NYSE:KMI) by 0.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,022,561 shares of the pipeline company’s stock after selling 1,330 shares during the quarter. Hennessy Advisors Inc.’s holdings in Kinder Morgan were worth $29,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Hurley Capital LLC purchased a new stake in shares of Kinder Morgan in the fourth quarter worth approximately $25,000. Centricity Wealth Management LLC bought a new position in Kinder Morgan during the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC bought a new position in Kinder Morgan during the fourth quarter valued at approximately $26,000. Morse Asset Management Inc bought a new position in Kinder Morgan during the fourth quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new position in Kinder Morgan during the fourth quarter valued at approximately $29,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Stock Performance

Shares of NYSE:KMI opened at $27.61 on Friday. The stock has a market capitalization of $61.34 billion, a P/E ratio of 23.59, a P/E/G ratio of 3.08 and a beta of 0.74. Kinder Morgan, Inc. has a 1-year low of $19.47 and a 1-year high of $31.48. The company has a current ratio of 0.49, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average price of $27.28 and a two-hundred day moving average price of $27.44.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, April 16th. The pipeline company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. The company had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. Equities analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a $0.2925 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.29. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.24%. Kinder Morgan’s dividend payout ratio is 100.86%.

Insider Activity

In related news, President Thomas A. Martin sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $27.57, for a total value of $496,260.00. Following the completion of the transaction, the president now directly owns 789,652 shares in the company, valued at approximately $21,770,705.64. The trade was a 2.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 54,000 shares of company stock valued at $1,522,440 in the last ninety days. 12.73% of the stock is owned by insiders.

Analyst Ratings Changes

KMI has been the topic of several recent research reports. Barclays raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price target on shares of Kinder Morgan from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Stifel Nicolaus lifted their price target on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, June 3rd. Royal Bank of Canada raised their price objective on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Kinder Morgan in a research note on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.21.

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.