Eastern Bank Reduces Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Eastern Bank lowered its position in Kinder Morgan, Inc. (NYSE:KMI) by 0.5% during the third quarter, HoldingsChannel reports. The firm owned 85,616 shares of the pipeline company’s stock after selling 416 shares during the period. Eastern Bank’s holdings in Kinder Morgan were worth $1,891,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Kinder Morgan by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock valued at $3,665,963,000 after acquiring an additional 27,254,172 shares during the last quarter. Castle Hook Partners LP increased its holdings in shares of Kinder Morgan by 108.2% in the first quarter. Castle Hook Partners LP now owns 7,799,826 shares of the pipeline company’s stock valued at $143,049,000 after purchasing an additional 4,053,793 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its position in Kinder Morgan by 45.9% during the first quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock worth $182,665,000 after buying an additional 3,135,457 shares in the last quarter. Duquesne Family Office LLC boosted its stake in Kinder Morgan by 74.0% during the second quarter. Duquesne Family Office LLC now owns 6,753,165 shares of the pipeline company’s stock worth $134,185,000 after buying an additional 2,872,665 shares during the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Kinder Morgan by 23.6% in 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. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock opened at $24.81 on Wednesday. The stock has a market capitalization of $55.06 billion, a price-to-earnings ratio of 22.55, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The business has a 50-day moving average of $22.27 and a 200 day moving average of $20.58. Kinder Morgan, Inc. has a 12 month low of $15.91 and a 12 month high of $25.43.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the previous year, the business posted $0.25 EPS. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.19 earnings per share for the current year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Thursday, October 31st. Kinder Morgan’s payout ratio is currently 104.55%.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.04, for a total value of $529,555.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the sale, the vice president now owns 307,409 shares in the company, valued at $6,455,589. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 126,898 shares of company stock worth $2,666,865. Company insiders own 12.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KMI shares. JPMorgan Chase & Co. lifted their price target on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Bank of America assumed coverage on shares of Kinder Morgan in a report on Thursday, October 17th. They issued a “buy” rating and a $27.00 target price on the stock. Morgan Stanley set a $26.00 price target on shares of Kinder Morgan in a report on Friday. Barclays upped their price objective on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Finally, Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Friday, July 19th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Kinder Morgan has a consensus rating of “Moderate Buy” and a consensus price target of $24.91.

Kinder Morgan Company Profile

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.