Smithbridge Asset Management Inc. DE lessened its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 50.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,274 shares of the pipeline company’s stock after selling 54,274 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in Kinder Morgan were worth $1,820,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Kinder Morgan by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 16,551,759 shares of the pipeline company’s stock valued at $468,588,000 after buying an additional 205,820 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Kinder Morgan by 14.4% during the 4th quarter. Benjamin Edwards Inc. now owns 467,434 shares of the pipeline company’s stock worth $12,849,000 after acquiring an additional 59,013 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Kinder Morgan by 44.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,135,863 shares of the pipeline company’s stock valued at $29,523,000 after acquiring an additional 350,348 shares during the period. Groupama Asset Managment boosted its holdings in Kinder Morgan by 112.8% during the third quarter. Groupama Asset Managment now owns 94,715 shares of the pipeline company’s stock valued at $2,681,000 after acquiring an additional 50,199 shares during the period. Finally, Mirabella Financial Services LLP grew its position in shares of Kinder Morgan by 144.7% in the third quarter. Mirabella Financial Services LLP now owns 112,282 shares of the pipeline company’s stock valued at $3,172,000 after purchasing an additional 66,403 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.
Kinder Morgan Stock Down 0.9%
Shares of KMI opened at $31.69 on Thursday. Kinder Morgan, Inc. has a 52 week low of $25.60 and a 52 week high of $34.81. The firm has a market capitalization of $70.51 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.66 and a beta of 0.54. The company has a 50-day simple moving average of $32.17 and a 200-day simple moving average of $31.23. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.41 and a current ratio of 0.52.
Kinder Morgan Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $0.2975 per share. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.29. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, May 4th. Kinder Morgan’s dividend payout ratio (DPR) is presently 79.87%.
Insider Buying and Selling
In related news, VP John W. Schlosser sold 6,166 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $31.83, for a total value of $196,263.78. Following the completion of the transaction, the vice president directly owned 170,374 shares in the company, valued at approximately $5,423,004.42. This represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total value of $48,732.00. Following the completion of the transaction, the vice president directly owned 41,743 shares of the company’s stock, valued at approximately $1,312,399.92. This trade represents a 3.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 23,148 shares of company stock worth $749,206. 12.72% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on KMI shares. UBS Group reissued a “buy” rating and set a $43.00 price objective on shares of Kinder Morgan in a research report on Monday, June 15th. Scotiabank raised their target price on Kinder Morgan from $31.00 to $32.00 and gave the company a “sector perform” rating in a report on Thursday, March 26th. Wolfe Research downgraded Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Zacks Research lowered Kinder Morgan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Wells Fargo & Company increased their price objective on Kinder Morgan from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Eight research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Kinder Morgan currently has an average rating of “Hold” and a consensus target price of $34.71.
Get Our Latest Analysis on KMI
Kinder Morgan Profile
Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.
Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.
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