Sweeney & Michel LLC Purchases Shares of 100,649 Kinder Morgan, Inc. (NYSE:KMI)

Sweeney & Michel LLC purchased a new stake in Kinder Morgan, Inc. (NYSE:KMI) during the third quarter, HoldingsChannel.com reports. The firm purchased 100,649 shares of the pipeline company’s stock, valued at approximately $2,223,000. Kinder Morgan makes up approximately 0.9% of Sweeney & Michel LLC’s investment portfolio, making the stock its 24th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC lifted its position in shares of Kinder Morgan by 52.3% during the third quarter. Foundations Investment Advisors LLC now owns 42,475 shares of the pipeline company’s stock worth $938,000 after purchasing an additional 14,585 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Kinder Morgan during the third quarter worth approximately $28,000. Penn Davis Mcfarland Inc. lifted its position in shares of Kinder Morgan by 6.9% during the third quarter. Penn Davis Mcfarland Inc. now owns 1,800,674 shares of the pipeline company’s stock worth $39,777,000 after purchasing an additional 116,962 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Kinder Morgan by 2.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 100,386 shares of the pipeline company’s stock worth $2,218,000 after purchasing an additional 2,456 shares in the last quarter. Finally, OLD National Bancorp IN lifted its position in shares of Kinder Morgan by 27.2% during the third quarter. OLD National Bancorp IN now owns 379,391 shares of the pipeline company’s stock worth $8,381,000 after purchasing an additional 81,154 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 completion of the transaction, the vice president now owns 307,409 shares in the company, valued at $6,455,589. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Sital K. Mody sold 21,413 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the transaction, the vice president now owns 25,169 shares in the company, valued at approximately $534,841.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the vice president now owns 307,409 shares of the company’s stock, valued at $6,455,589. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,311 shares of company stock worth $3,121,891 over the last quarter. 12.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KMI. Stifel Nicolaus upped their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Wells Fargo & Company boosted their price target on shares of Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays boosted their price target on shares of Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, September 13th. The Goldman Sachs Group reissued a “conviction-buy” rating on shares of Kinder Morgan in a research note on Friday. Finally, Morgan Stanley set a $26.00 price target on shares of Kinder Morgan in a research note on Friday. Eight 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, Kinder Morgan has a consensus rating of “Moderate Buy” and a consensus target price of $24.45.

Kinder Morgan Trading Down 0.0 %

NYSE:KMI traded down $0.01 during trading hours on Tuesday, hitting $24.73. The stock had a trading volume of 874,006 shares, compared to its average volume of 13,798,510. Kinder Morgan, Inc. has a one year low of $15.91 and a one year high of $25.43. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.37. The company has a market cap of $54.89 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 3.27 and a beta of 0.93. The business’s 50 day moving average is $22.19 and its 200-day moving average is $20.54.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. Sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The business 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 $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend is Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is presently 104.55%.

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.