Sheets Smith Wealth Management Sells 426 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Sheets Smith Wealth Management cut its position in Kinder Morgan, Inc. (NYSE:KMI) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,682 shares of the pipeline company’s stock after selling 426 shares during the quarter. Sheets Smith Wealth Management’s holdings in Kinder Morgan were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in shares of Kinder Morgan in the 3rd quarter valued at about $28,000. Pathway Financial Advisers LLC acquired a new position in Kinder Morgan during the first quarter worth approximately $30,000. HWG Holdings LP acquired a new stake in shares of Kinder Morgan in the second quarter valued at approximately $30,000. Strategic Financial Concepts LLC bought a new position in shares of Kinder Morgan during the 2nd quarter worth approximately $31,000. Finally, HM Payson & Co. raised its stake in Kinder Morgan by 401.8% in the 3rd quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 1,145 shares during the period. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KMI has been the topic of several research reports. UBS Group upped their price objective on shares of Kinder Morgan from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Bank of America assumed coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They set a “buy” rating and a $27.00 price objective for the company. Barclays upped their target price on Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Truist Financial lifted their price target on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada increased their price objective on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.09.

Insider Activity

In related news, President Thomas A. Martin sold 19,121 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the transaction, the president now owns 897,652 shares of the company’s stock, valued at $23,590,294.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, President Thomas A. Martin sold 19,121 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total transaction of $502,499.88. Following the completion of the transaction, the president now directly owns 897,652 shares in the company, valued at approximately $23,590,294.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Park Shaper sold 690,142 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the completion of the transaction, the director now owns 6,809,858 shares of the company’s stock, valued at $168,543,985.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 710,992 shares of company stock worth $17,619,823. Corporate insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Performance

Shares of NYSE:KMI opened at $26.88 on Monday. Kinder Morgan, Inc. has a 1 year low of $16.17 and a 1 year high of $27.00. The stock has a market capitalization of $59.72 billion, a price-to-earnings ratio of 23.58, a price-to-earnings-growth ratio of 3.70 and a beta of 0.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35. The company’s 50 day simple moving average is $23.28 and its 200 day simple moving average is $21.19.

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 analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the business posted $0.25 EPS. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, research analysts predict that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.2875 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.28%. Kinder Morgan’s dividend payout ratio (DPR) is currently 100.88%.

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.