Fort Pitt Capital Group LLC Lowers Stake in Kinder Morgan, Inc. (NYSE:KMI)

Fort Pitt Capital Group LLC lessened its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 252,815 shares of the pipeline company’s stock after selling 5,427 shares during the period. Fort Pitt Capital Group LLC’s holdings in Kinder Morgan were worth $5,585,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. SignalPoint Asset Management LLC grew its holdings in shares of Kinder Morgan by 1.5% during the third quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock valued at $655,000 after purchasing an additional 447 shares during the last quarter. Trust Co. of Oklahoma grew its holdings in shares of Kinder Morgan by 1.5% during the third quarter. Trust Co. of Oklahoma now owns 33,586 shares of the pipeline company’s stock valued at $742,000 after purchasing an additional 486 shares during the last quarter. Pinnacle West Asset Management Inc. grew its holdings in shares of Kinder Morgan by 0.5% during the third quarter. Pinnacle West Asset Management Inc. now owns 96,150 shares of the pipeline company’s stock valued at $2,124,000 after purchasing an additional 500 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Kinder Morgan by 0.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock valued at $3,295,000 after purchasing an additional 530 shares during the last quarter. Finally, Premier Path Wealth Partners LLC grew its holdings in shares of Kinder Morgan by 1.4% during the second quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock valued at $785,000 after purchasing an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Price Performance

Shares of NYSE:KMI opened at $24.18 on Friday. Kinder Morgan, Inc. has a one year low of $16.17 and a one year high of $25.43. The stock has a fifty day moving average of $22.85 and a 200-day moving average of $20.93. The company has a market capitalization of $53.72 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 3.03 and a beta of 0.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 EPS 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 company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the company posted $0.25 EPS. Kinder Morgan’s revenue was down 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm 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 4.76%. Kinder Morgan’s payout ratio is currently 100.88%.

Insider Activity

In other news, Director C Park Shaper sold 690,142 shares of the stock in a transaction 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 completion of the sale, the director now owns 6,809,858 shares in the company, valued at $168,543,985.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Dax Sanders sold 1,729 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal 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 stock was sold at an average price of $24.75, for a total value of $17,081,014.50. Following the sale, the director now owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on KMI shares. UBS Group increased their price objective on Kinder Morgan from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Truist Financial increased their price objective on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Stifel Nicolaus increased their price objective on Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, August 27th. 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. Finally, The Goldman Sachs Group reissued a “conviction-buy” rating on shares of Kinder Morgan in a report on Friday, October 18th. Eight research 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 company’s stock. Based on data from MarketBeat.com, Kinder Morgan has a consensus rating of “Moderate Buy” and an average target price of $24.91.

Kinder Morgan Company 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.