Partners Wealth Management LLC Purchases New Position in Kinder Morgan, Inc. $KMI

Partners Wealth Management LLC acquired a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI) in the third quarter, Holdings Channel reports. The fund acquired 24,219 shares of the pipeline company’s stock, valued at approximately $730,000.

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

Kinder Morgan Stock Down 0.2%

KMI stock opened at $33.90 on Friday. The firm’s 50-day moving average is $32.06 and its two-hundred day moving average is $32.03. The company has a market capitalization of $75.52 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59. Kinder Morgan, Inc. has a 52 week low of $25.60 and a 52 week high of $34.81. The company has a current ratio of 0.67, a quick ratio of 0.36 and a debt-to-equity ratio of 0.95.

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

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be given a $0.2975 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, November 2nd. Kinder Morgan’s dividend payout ratio is 73.46%.

Analyst Ratings Changes

KMI has been the topic of a number of analyst reports. TD Cowen increased their price objective on shares of Kinder Morgan from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Morgan Stanley boosted their target price on shares of Kinder Morgan from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday. Citigroup upped their target price on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Royal Bank Of Canada upped their target price on shares of Kinder Morgan from $36.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, Jefferies Financial Group raised their price target on shares of Kinder Morgan from $33.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, October 22nd. Twelve analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kinder Morgan currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.15.

Insiders Place Their Bets

In other Kinder Morgan news, VP Michael Garthwaite sold 1,550 shares of the stock in a transaction on Friday, October 16th. The stock was sold at an average price of $33.65, for a total transaction of $52,157.50. Following the completion of the transaction, the vice president directly owned 47,313 shares of the company’s stock, valued at approximately $1,592,082.45. This trade represents a 3.17% decrease in their position. 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 company insiders.

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.