Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC cut its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,484,559 shares of the pipeline company’s stock after selling 62,443 shares during the quarter. Kinder Morgan comprises about 1.3% of Confluence Investment Management LLC’s investment portfolio, making the stock its 26th largest position. Confluence Investment Management LLC owned approximately 0.20% of Kinder Morgan worth $99,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new stake in shares of Kinder Morgan during the 3rd quarter worth approximately $28,000. Pathway Financial Advisers LLC purchased a new position in Kinder Morgan during the 1st quarter valued at about $30,000. HWG Holdings LP purchased a new position in shares of Kinder Morgan during the 2nd quarter worth approximately $30,000. Strategic Financial Concepts LLC purchased a new stake in Kinder Morgan in the 2nd quarter valued at approximately $31,000. Finally, HM Payson & Co. grew its holdings in Kinder Morgan by 401.8% during the 3rd quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock valued at $32,000 after buying an additional 1,145 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Performance

NYSE:KMI opened at $26.41 on Friday. The company has a market cap of $58.67 billion, a P/E ratio of 23.17, a P/E/G ratio of 3.05 and a beta of 0.91. The firm’s 50 day moving average is $23.07 and its two-hundred day moving average is $21.08. Kinder Morgan, Inc. has a fifty-two week low of $16.17 and a fifty-two week high of $26.58. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the business posted $0.25 earnings per share. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. Analysts expect that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is presently 100.88%.

Wall Street Analysts Forecast Growth

KMI has been the subject of a number of analyst reports. Barclays boosted their price target on Kinder Morgan from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday. Stifel Nicolaus boosted their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Friday, July 19th. Morgan Stanley set a $26.00 price target on shares of Kinder Morgan in a report on Friday, October 18th. Finally, Scotiabank upped their price objective on shares of Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.09.

Insider Activity

In related news, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the sale, the vice president now directly owns 307,409 shares in the company, valued at approximately $6,455,589. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Thomas A. Martin sold 19,121 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the sale, the president now directly owns 897,652 shares of the company’s stock, valued at $23,590,294.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 307,409 shares in the company, valued at $6,455,589. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 710,992 shares of company stock valued at $17,619,823. Company insiders own 12.81% 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.