Hourglass Capital LLC Has $6.75 Million Stake in Kinder Morgan, Inc. (NYSE:KMI)

Hourglass Capital LLC decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 305,685 shares of the pipeline company’s stock after selling 12,465 shares during the quarter. Kinder Morgan makes up approximately 1.9% of Hourglass Capital LLC’s portfolio, making the stock its 21st biggest position. Hourglass Capital LLC’s holdings in Kinder Morgan were worth $6,753,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Pinnacle Financial Partners Inc boosted its holdings in shares of Kinder Morgan by 1.6% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 65,920 shares of the pipeline company’s stock valued at $1,456,000 after acquiring an additional 1,011 shares in the last quarter. Chase Investment Counsel Corp lifted its holdings in Kinder Morgan by 52.5% during the 3rd quarter. Chase Investment Counsel Corp now owns 49,793 shares of the pipeline company’s stock worth $1,099,000 after buying an additional 17,145 shares during the period. Community Bank & Trust Waco Texas acquired a new position in Kinder Morgan during the 3rd quarter worth about $920,000. Empower Advisory Group LLC lifted its holdings in Kinder Morgan by 1.2% during the 3rd quarter. Empower Advisory Group LLC now owns 3,808,896 shares of the pipeline company’s stock worth $84,139,000 after buying an additional 45,928 shares during the period. Finally, Carrera Capital Advisors lifted its holdings in Kinder Morgan by 27.5% during the 3rd quarter. Carrera Capital Advisors now owns 75,290 shares of the pipeline company’s stock worth $1,663,000 after buying an additional 16,222 shares during the period. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Transactions at Kinder Morgan

In other news, Director C Park Shaper sold 690,142 shares of the business’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 owns 6,809,858 shares in the company, valued at $168,543,985.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Thomas A. Martin sold 19,121 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total value of $502,499.88. Following the transaction, the president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director C Park Shaper sold 690,142 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $168,543,985.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Performance

Shares of KMI opened at $26.80 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. The stock has a 50 day moving average price of $23.51 and a two-hundred day moving average price of $21.32. The firm has a market capitalization of $59.54 billion, a P/E ratio of 23.51, a P/E/G ratio of 3.74 and a beta of 0.91. Kinder Morgan, Inc. has a 52 week low of $16.47 and a 52 week high of $27.58.

Kinder Morgan (NYSE:KMI) last issued 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 return on equity of 7.87% and a net margin of 16.76%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

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 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 4.29%. Kinder Morgan’s payout ratio is presently 100.88%.

Analysts Set New Price Targets

Several research analysts have commented on KMI shares. UBS Group lifted their target price on Kinder Morgan from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Bank of America began coverage on Kinder Morgan in a report on Thursday, October 17th. They set a “buy” rating and a $27.00 target price on the stock. Barclays boosted 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. Stifel Nicolaus boosted their target price on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Finally, Wells Fargo & Company boosted their target price on Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Eight 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.