Pin Oak Investment Advisors Inc. purchased a new stake in Kinder Morgan, Inc. (NYSE:KMI – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 21,639 shares of the pipeline company’s stock, valued at approximately $726,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. increased its position in shares of Kinder Morgan by 4,166.7% in the second quarter. Evolution Wealth Management Inc. now owns 768 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 750 shares during the last quarter. Transamerica Financial Advisors LLC boosted its position in Kinder Morgan by 72.9% during the second quarter. Transamerica Financial Advisors LLC now owns 778 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 328 shares during the last quarter. Commonwealth Retirement Investments LLC bought a new position in Kinder Morgan in the fourth quarter valued at approximately $27,000. Frazier Financial Advisors LLC acquired a new position in shares of Kinder Morgan during the 1st quarter worth approximately $28,000. Finally, Acumen Wealth Advisors LLC acquired a new position in shares of Kinder Morgan during the 4th quarter worth approximately $28,000. 62.52% of the stock is owned by institutional investors.
Kinder Morgan Stock Performance
Shares of NYSE KMI opened at $31.57 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.36 and a debt-to-equity ratio of 0.91. Kinder Morgan, Inc. has a 12 month low of $25.60 and a 12 month high of $34.81. The stock has a 50 day moving average of $32.03 and a 200-day moving average of $32.35. The company has a market capitalization of $70.30 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.47 and a beta of 0.54.
Kinder Morgan Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were paid a dividend of $0.2975 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, August 3rd. Kinder Morgan’s dividend payout ratio (DPR) is currently 76.28%.
Analyst Upgrades and Downgrades
Several research firms have recently commented on KMI. Citigroup reissued a “neutral” rating on shares of Kinder Morgan in a report on Wednesday, July 29th. Weiss Ratings downgraded shares of Kinder Morgan from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Morgan Stanley set a $38.00 price target on shares of Kinder Morgan in a research report on Wednesday, July 29th. Jefferies Financial Group reiterated a “hold” rating on shares of Kinder Morgan in a research note on Thursday, July 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of Kinder Morgan from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.50.
Get Our Latest Research Report on KMI
Insider Transactions at Kinder Morgan
In other news, VP Michael P. Garthwaite sold 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $31.44, for a total transaction of $48,732.00. Following the completion of the sale, the vice president owned 41,743 shares in the company, valued at $1,312,399.92. The trade was a 3.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were 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 $5,423,004.42. The trade was a 3.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 13,882 shares of company stock worth $441,691. 12.72% of the stock is owned by company insiders.
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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