Nisa Investment Advisors LLC lessened its position in Kinder Morgan Inc (NYSE:KMI) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 396,294 shares of the pipeline company’s stock after selling 19,500 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Kinder Morgan were worth $8,168,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. SRS Capital Advisors Inc. acquired a new stake in shares of Kinder Morgan during the second quarter worth $32,000. River & Mercantile Asset Management LLP acquired a new stake in shares of Kinder Morgan during the second quarter worth $33,000. Bartlett & Co. LLC acquired a new stake in shares of Kinder Morgan during the second quarter worth $37,000. Atwater Malick LLC acquired a new stake in shares of Kinder Morgan during the third quarter worth $40,000. Finally, Massey Quick Simon & CO. LLC raised its position in shares of Kinder Morgan by 1,035.1% during the third quarter. Massey Quick Simon & CO. LLC now owns 2,100 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 1,915 shares during the period. 61.77% of the stock is currently owned by institutional investors.
NYSE:KMI opened at $20.02 on Monday. The firm has a market capitalization of $45.43 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 4.18 and a beta of 0.81. Kinder Morgan Inc has a 1-year low of $14.62 and a 1-year high of $21.50. The company has a current ratio of 0.35, a quick ratio of 0.33 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average price is $20.42 and its 200 day moving average price is $20.34.
Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.02). The business had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.51 billion. Kinder Morgan had a net margin of 15.21% and a return on equity of 6.25%. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. Equities analysts forecast that Kinder Morgan Inc will post 0.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.00%. The ex-dividend date is Wednesday, October 30th. Kinder Morgan’s payout ratio is 112.36%.
In other Kinder Morgan news, VP Dax Sanders sold 71,944 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $20.05, for a total value of $1,442,477.20. Following the transaction, the vice president now owns 204,605 shares in the company, valued at $4,102,330.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Deborah Macdonald bought 5,000 shares of the stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $19.91 per share, for a total transaction of $99,550.00. Following the purchase, the director now directly owns 30,328 shares of the company’s stock, valued at $603,830.48. The disclosure for this purchase can be found here. Insiders have purchased 705,000 shares of company stock worth $14,007,550 over the last three months. 13.95% of the stock is owned by insiders.
A number of brokerages have recently issued reports on KMI. Zacks Investment Research reaffirmed a “buy” rating and set a $23.00 target price on shares of Kinder Morgan in a research report on Saturday, June 29th. Raymond James lowered Kinder Morgan from an “outperform” rating to a “market perform” rating and set a $20.72 target price on the stock. in a research report on Wednesday, June 26th. ValuEngine lowered Kinder Morgan from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Scotiabank began coverage on Kinder Morgan in a research report on Tuesday, September 3rd. They set a “sector perform” rating and a $23.00 target price on the stock. Finally, TD Securities began coverage on Kinder Morgan in a research report on Wednesday, October 2nd. They set a “buy” rating and a $25.00 target price on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.11.
About Kinder Morgan
Kinder Morgan, Inc operates as an energy infrastructure company 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 and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.
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