Kinder Morgan, Inc. $KMI Stock Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,519,749 shares of the pipeline company’s stock after selling 61,869 shares during the quarter. King Luther Capital Management Corp’s holdings in Kinder Morgan were worth $75,970,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KMI. BlackRock Inc. increased its stake 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 last quarter. State Street Corp lifted its position in shares of 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 last quarter. Bank of America Corp DE lifted its position in shares of 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 last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kinder Morgan by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 17,237,384 shares of the pipeline company’s stock worth $577,998,000 after buying an additional 448,130 shares during the last quarter. Finally, Amundi boosted its holdings 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 in the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.

Kinder Morgan Price Performance

Shares of NYSE KMI opened at $31.57 on Thursday. The stock has a market cap of $70.32 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.17 and a beta of 0.58. Kinder Morgan, Inc. has a twelve month low of $26.24 and a twelve month high of $34.81. The stock has a 50 day moving average of $32.02 and a two-hundred day moving average of $32.15. The company has a current ratio of 0.67, a quick ratio of 0.55 and a debt-to-equity ratio of 0.95.

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

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be given a $0.2975 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.19 annualized dividend and a yield of 3.8%. Kinder Morgan’s dividend payout ratio is 73.46%.

Insider Buying and Selling

In related news, VP Michael Garthwaite sold 1,550 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $33.65, for a total transaction of $52,157.50. Following the completion of the sale, the vice president owned 47,313 shares in the company, valued at $1,592,082.45. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Richard Kinder bought 500,000 shares of Kinder Morgan stock in a transaction dated Friday, November 6th. The stock was acquired at an average cost of $29.99 per share, with a total value of $14,995,000.00. Following the completion of the acquisition, the chairman directly owned 246,712,353 shares of the company’s stock, valued at approximately $7,398,903,466.47. The trade was a 0.20% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 9,300 shares of company stock worth $292,098 in the last 90 days. Company insiders own 12.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on KMI. Capital One Financial assumed coverage on shares of Kinder Morgan in a research report on Tuesday, September 22nd. They issued an “equal weight” rating and a $36.00 target price on the stock. Morgan Stanley reduced their price target on shares of Kinder Morgan from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 3rd. Wells Fargo & Company upped their price objective on shares of Kinder Morgan from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, October 22nd. Scotiabank upped their price objective on shares of Kinder Morgan from $32.00 to $34.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 27th. Finally, Melius Research began coverage on Kinder Morgan in a report on Tuesday, September 22nd. They set a “buy” rating and a $38.00 price objective on the stock. Twelve equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Kinder Morgan currently has a consensus rating of “Moderate Buy” and an average target price of $37.15.

About Kinder Morgan

Kinder Morgan, Inc. (NYSE: KMI) is an energy infrastructure company that transports and stores natural gas, crude oil, refined petroleum products and other energy-related commodities. Its assets include pipelines, terminals and storage facilities serving energy producers, utilities, industrial customers and other markets across the United States and Canada. The company’s operations include natural gas transportation and storage, refined-products and crude-oil pipelines, bulk and liquids terminals, and carbon dioxide transportation.