Guinness Asset Management LTD Cuts Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Guinness Asset Management LTD trimmed its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 14.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 529,404 shares of the pipeline company’s stock after selling 87,213 shares during the period. Guinness Asset Management LTD’s holdings in Kinder Morgan were worth $11,656,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of KMI. Czech National Bank lifted its stake in Kinder Morgan by 6.9% in the third quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock worth $8,689,000 after acquiring an additional 25,406 shares during the last quarter. LSV Asset Management purchased a new position in Kinder Morgan in the first quarter valued at $8,818,000. Duality Advisers LP raised its stake in Kinder Morgan by 42.7% in the first quarter. Duality Advisers LP now owns 317,425 shares of the pipeline company’s stock valued at $5,822,000 after buying an additional 94,984 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Kinder Morgan by 221.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 251,635 shares of the pipeline company’s stock worth $4,615,000 after buying an additional 173,313 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Kinder Morgan by 6.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,545,943 shares of the pipeline company’s stock worth $46,726,000 after acquiring an additional 144,687 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Buying and Selling at Kinder Morgan

In related news, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the completion of the transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.04, for a total transaction of $529,555.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the completion of the sale, the vice president now owns 307,409 shares in the company, valued at $6,455,589. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,311 shares of company stock valued at $3,121,891. Corporate insiders own 12.64% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on KMI. Truist Financial boosted their target price on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Scotiabank upped their target price on shares of Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Royal Bank of Canada lifted their price target on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 30th. Bank of America raised Kinder Morgan from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $23.00 to $27.00 in a report on Friday. Finally, Barclays boosted their target price on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Kinder Morgan has a consensus rating of “Moderate Buy” and an average price target of $23.18.

Kinder Morgan Stock Performance

Shares of NYSE:KMI traded up $0.98 during trading on Friday, reaching $24.70. The company had a trading volume of 21,490,048 shares, compared to its average volume of 13,770,874. Kinder Morgan, Inc. has a fifty-two week low of $15.91 and a fifty-two week high of $24.70. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The stock’s fifty day moving average price is $21.70 and its 200 day moving average price is $20.24. The firm has a market capitalization of $54.82 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 3.27 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. As a group, equities research analysts predict that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Wednesday, July 31st. Kinder Morgan’s payout ratio is 104.55%.

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.