Kinder Morgan, Inc. $KMI Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 5.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,007,914 shares of the pipeline company’s stock after selling 244,556 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of Kinder Morgan worth $120,839,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in Kinder Morgan by 1.1% in the second quarter. BlackRock Inc. now owns 175,834,246 shares of the pipeline company’s stock valued at $5,621,421,000 after purchasing an additional 1,875,143 shares during the period. State Street Corp lifted its holdings in Kinder Morgan by 4.3% during the 2nd quarter. State Street Corp now owns 130,863,419 shares of the pipeline company’s stock worth $4,183,704,000 after buying an additional 5,361,578 shares during the period. Bank of America Corp DE lifted its holdings in Kinder Morgan by 1.4% during the 1st quarter. Bank of America Corp DE now owns 62,018,394 shares of the pipeline company’s stock worth $2,079,477,000 after buying an additional 836,571 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Kinder Morgan by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 17,237,384 shares of the pipeline company’s stock valued at $577,998,000 after buying an additional 448,130 shares during the last quarter. Finally, Amundi grew its position in shares of Kinder Morgan by 5.8% in the 1st quarter. Amundi now owns 15,130,700 shares of the pipeline company’s stock valued at $507,332,000 after buying an additional 831,125 shares during the last quarter. Institutional investors own 62.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised Kinder Morgan from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 23rd. Wells Fargo & Company lifted their price objective on Kinder Morgan from $36.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Morgan Stanley upped their target price on Kinder Morgan from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, October 27th. Argus upped their target price on Kinder Morgan from $36.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Capital One Financial started coverage on shares of Kinder Morgan in a research report on Tuesday, September 22nd. They set an “equal weight” rating and a $36.00 target price for the company. Twelve investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

Insider Buying and Selling

In other Kinder Morgan news, VP Michael Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $33.65, for a total value of $52,157.50. Following the completion of the sale, the vice president directly owned 47,313 shares in the company, valued at approximately $1,592,082.45. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.72% of the stock is owned by corporate insiders.

Kinder Morgan Price Performance

KMI stock opened at $32.70 on Tuesday. The company has a quick ratio of 0.36, a current ratio of 0.67 and a debt-to-equity ratio of 0.95. The firm has a market cap of $72.85 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.34 and a beta of 0.59. The company’s fifty day simple moving average is $32.10 and its 200 day simple moving average is $32.05. Kinder Morgan, Inc. has a 12-month low of $25.60 and a 12-month high of $34.81.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.37 billion. Kinder Morgan had a return on equity of 10.84% and a net margin of 19.64%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. On average, analysts expect that Kinder Morgan, Inc. will post 1.57 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be paid a dividend of $0.2975 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.19 annualized dividend and a yield of 3.6%. Kinder Morgan’s dividend payout ratio (DPR) is currently 73.46%.

Kinder Morgan Profile

Kinder Morgan, Inc (NYSE: KMI) is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.

The company’s natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.