Wedmont Private Capital Acquires 1,373 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Wedmont Private Capital lifted its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,678 shares of the pipeline company’s stock after acquiring an additional 1,373 shares during the quarter. Wedmont Private Capital’s holdings in Kinder Morgan were worth $747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMI. Vanguard Group Inc. raised its holdings in shares of Kinder Morgan by 15.8% during the first quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock valued at $3,665,963,000 after acquiring an additional 27,254,172 shares in the last quarter. Confluence Investment Management LLC bought a new position in shares of Kinder Morgan during the first quarter valued at approximately $87,627,000. Castle Hook Partners LP raised its holdings in shares of Kinder Morgan by 108.2% during the first quarter. Castle Hook Partners LP now owns 7,799,826 shares of the pipeline company’s stock valued at $143,049,000 after acquiring an additional 4,053,793 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Kinder Morgan by 45.9% during the first quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock valued at $182,665,000 after acquiring an additional 3,135,457 shares in the last quarter. Finally, Duquesne Family Office LLC raised its holdings in shares of Kinder Morgan by 74.0% during the second quarter. Duquesne Family Office LLC now owns 6,753,165 shares of the pipeline company’s stock valued at $134,185,000 after acquiring an additional 2,872,665 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Royal Bank of Canada increased their price objective on Kinder Morgan from $20.00 to $22.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 30th. Truist Financial increased their price objective on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Bank of America upgraded Kinder Morgan from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $27.00 in a report on Friday. Finally, Scotiabank increased their price objective on Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Eight investment 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 stock. According to data from MarketBeat, Kinder Morgan currently has an average rating of “Moderate Buy” and an average price target of $23.18.

Kinder Morgan Trading Up 4.1 %

NYSE KMI opened at $24.70 on Friday. Kinder Morgan, Inc. has a 12 month low of $15.91 and a 12 month high of $24.70. The stock has a market cap of $54.82 billion, a P/E ratio of 22.45, a P/E/G ratio of 3.27 and a beta of 0.93. The stock’s fifty day moving average price is $21.70 and its 200-day moving average price is $20.24. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the business earned $0.24 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities analysts forecast that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

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

Insider Activity at Kinder Morgan

In related news, President Thomas A. Martin sold 100,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the sale, the president now directly owns 916,773 shares of the company’s stock, valued at $19,261,400.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following the transaction, the president now directly owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sital K. Mody sold 21,413 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the transaction, the vice president now directly owns 25,169 shares in the company, valued at $534,841.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,311 shares of company stock valued at $3,121,891 over the last ninety days. Insiders own 12.64% of the company’s stock.

Kinder Morgan Profile

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.