Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd trimmed its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 45.2% in the first quarter, Holdings Channel.com reports. The fund owned 31,758 shares of the pipeline company’s stock after selling 26,247 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Kinder Morgan were worth $906,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sierra Ocean LLC lifted its position in shares of Kinder Morgan by 927.1% during the 1st quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 788 shares during the period. Hurley Capital LLC acquired a new stake in shares of Kinder Morgan during the 4th quarter valued at approximately $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Kinder Morgan during the 4th quarter valued at approximately $26,000. Morse Asset Management Inc acquired a new position in shares of Kinder Morgan during the 4th quarter worth approximately $27,000. Finally, JNBA Financial Advisors raised its position in shares of Kinder Morgan by 669.2% during the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 870 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Kinder Morgan Stock Up 2.5%

Shares of NYSE KMI opened at $27.88 on Wednesday. Kinder Morgan, Inc. has a 52-week low of $19.68 and a 52-week high of $31.48. The firm has a fifty day moving average of $27.93 and a 200-day moving average of $27.56. The stock has a market capitalization of $61.96 billion, a PE ratio of 22.86, a P/E/G ratio of 3.45 and a beta of 0.75. The company has a quick ratio of 0.53, a current ratio of 0.68 and a debt-to-equity ratio of 0.99.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the company earned $0.26 EPS. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 4.20%. Kinder Morgan’s dividend payout ratio (DPR) is 95.90%.

Insiders Place Their Bets

In other Kinder Morgan news, Director Amy W. Chronis purchased 2,759 shares of the firm’s stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average cost of $27.21 per share, with a total value of $75,072.39. Following the transaction, the director owned 34,764 shares in the company, valued at approximately $945,928.44. This trade represents a 8.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total transaction of $508,680.00. Following the sale, the president directly owned 771,652 shares of the company’s stock, valued at approximately $21,806,885.52. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.73% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KMI has been the subject of several research reports. TD Cowen initiated coverage on Kinder Morgan in a research report on Monday, July 7th. They set a “buy” rating and a $34.00 price objective for the company. Wells Fargo & Company lifted their price objective on Kinder Morgan from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Wolfe Research upgraded Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Friday, July 25th. Royal Bank Of Canada lifted their price objective on Kinder Morgan from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 29th. Finally, Cowen initiated coverage on Kinder Morgan in a research report on Monday, July 7th. They set a “buy” rating for the company. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Kinder Morgan has a consensus rating of “Moderate Buy” and an average price target of $31.13.

About Kinder Morgan

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.