Kinder Morgan, Inc. (NYSE:KMI) Stake Lessened by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lessened its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 48.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,376 shares of the pipeline company’s stock after selling 13,545 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Kinder Morgan were worth $318,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Kinder Morgan by 15.8% during the 1st quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock worth $3,665,963,000 after buying an additional 27,254,172 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Kinder Morgan by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 16,904,252 shares of the pipeline company’s stock valued at $335,891,000 after acquiring an additional 257,658 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Kinder Morgan by 23.6% during the 1st quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock worth $204,319,000 after purchasing an additional 2,125,648 shares during the last quarter. Energy Income Partners LLC grew its stake in shares of Kinder Morgan by 2.6% during the first quarter. Energy Income Partners LLC now owns 10,717,452 shares of the pipeline company’s stock worth $196,558,000 after purchasing an additional 272,648 shares during the period. Finally, Kayne Anderson Capital Advisors LP increased its holdings in shares of Kinder Morgan by 45.9% in the first quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock worth $182,665,000 after acquiring an additional 3,135,457 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

Kinder Morgan Trading Up 1.3 %

Shares of NYSE:KMI opened at $24.49 on Tuesday. The stock’s 50-day simple moving average is $22.91 and its two-hundred day simple moving average is $21.00. The stock has a market capitalization of $54.41 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 3.03 and a beta of 0.91. Kinder Morgan, Inc. has a 52-week low of $16.17 and a 52-week high of $25.43. 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 released its quarterly 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 company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The company’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS. Analysts expect that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

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 paid a $0.2875 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.70%. Kinder Morgan’s payout ratio is 100.88%.

Insider Activity

In related news, Director C Park Shaper sold 690,142 shares of the company’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 in the company, valued at approximately $168,543,985.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director C Park Shaper sold 690,142 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the transaction, the director now directly owns 6,809,858 shares of the company’s stock, 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 SEC, which is available at this link. Also, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on KMI shares. Royal Bank of Canada lifted their target price on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Friday, July 19th. Finally, Truist Financial increased their price objective on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Eight equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $25.09.

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.