Oak Thistle LLC acquired a new stake in Kinder Morgan, Inc. (NYSE:KMI – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,108 shares of the pipeline company’s stock, valued at approximately $771,000.
Other large investors have also bought and sold shares of the company. Commonwealth Retirement Investments LLC acquired a new position in Kinder Morgan during the fourth quarter worth about $27,000. Frazier Financial Advisors LLC acquired a new position in Kinder Morgan in the 1st quarter worth approximately $28,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Kinder Morgan in the fourth quarter worth $28,000. Basepoint Wealth LLC purchased a new position in Kinder Morgan during the 4th quarter valued at about $30,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in Kinder Morgan during the fourth quarter valued at approximately $30,000. Institutional investors own 62.52% of the company’s stock.
Kinder Morgan Price Performance
Shares of KMI stock opened at $31.70 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.36 and a current ratio of 0.46. Kinder Morgan, Inc. has a 52-week low of $25.60 and a 52-week high of $34.81. The firm’s 50 day moving average price is $31.96 and its two-hundred day moving average price is $32.22. The stock has a market cap of $70.59 billion, a PE ratio of 20.32, a PEG ratio of 2.55 and a beta of 0.54.
Kinder Morgan Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 3rd will be given a $0.2975 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.8%. Kinder Morgan’s payout ratio is currently 76.28%.
Insider Activity at Kinder Morgan
In other news, VP Michael P. Garthwaite sold 1,550 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total value of $48,732.00. Following the transaction, the vice president directly owned 41,743 shares of the company’s stock, valued at $1,312,399.92. This represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction that occurred 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 sale, the vice president directly owned 170,374 shares of the company’s stock, valued at approximately $5,423,004.42. The trade was a 3.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,432 shares of company stock worth $493,849 in the last ninety days. Insiders own 12.72% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on KMI. Citigroup restated a “neutral” rating on shares of Kinder Morgan in a report on Wednesday, July 29th. Jefferies Financial Group reissued a “hold” rating on shares of Kinder Morgan in a research report on Thursday, July 23rd. Wolfe Research downgraded shares of Kinder Morgan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Weiss Ratings downgraded Kinder Morgan from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, June 23rd. Finally, UBS Group reiterated a “buy” rating and set a $43.00 target price on shares of Kinder Morgan in a research report on Monday, June 15th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Kinder Morgan has an average rating of “Hold” and a consensus target price of $35.50.
Check Out Our Latest Research Report on Kinder Morgan
About Kinder Morgan
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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