Kinder Morgan, Inc. (NYSE:KMI) Stake Reduced by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP trimmed its stake in Kinder Morgan, Inc. (NYSE:KMI) by 8.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 25,064 shares of the pipeline company’s stock after selling 2,263 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Kinder Morgan were worth $554,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Kinder Morgan in the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC bought a new stake in shares of Kinder Morgan during the first quarter valued at approximately $30,000. HWG Holdings LP acquired a new position in shares of Kinder Morgan during the second quarter worth approximately $30,000. Redmont Wealth Advisors LLC bought a new position in Kinder Morgan in the 1st quarter worth approximately $31,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Kinder Morgan in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Stock Down 0.2 %

NYSE:KMI traded down $0.04 during trading hours on Friday, hitting $24.95. 16,549,827 shares of the company’s stock traded hands, compared to its average volume of 14,480,738. Kinder Morgan, Inc. has a twelve month low of $15.91 and a twelve month high of $25.43. The firm has a market cap of $55.43 billion, a P/E ratio of 21.89, a P/E/G ratio of 3.06 and a beta of 0.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.28 and a current ratio of 0.46. The stock’s fifty day moving average price is $22.50 and its two-hundred day moving average price is $20.70.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the company earned $0.25 earnings per share. Kinder Morgan’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, research analysts expect that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.2875 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.61%. Kinder Morgan’s dividend payout ratio is 100.88%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KMI shares. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Friday, July 19th. Wells Fargo & Company raised their target price on shares of Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Truist Financial upped their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Stifel Nicolaus boosted their price objective on Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, Barclays raised their target price on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Kinder Morgan currently has a consensus rating of “Moderate Buy” and an average target price of $24.91.

Insider Buying and Selling

In other news, VP Sital K. Mody sold 25,169 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.04, for a total transaction of $529,555.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director C Park Shaper sold 690,142 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $24.75, for a total value of $17,081,014.50. Following the transaction, the director now directly owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sital K. Mody sold 25,169 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.04, for a total value of $529,555.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 817,040 shares of company stock worth $19,747,879. 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.