Archer Investment Corp Sells 2,600 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Archer Investment Corp cut its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 4.4% during the third quarter, HoldingsChannel.com reports. The fund owned 56,563 shares of the pipeline company’s stock after selling 2,600 shares during the quarter. Archer Investment Corp’s holdings in Kinder Morgan were worth $1,249,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KMI. Northwest Investment Counselors LLC purchased a new position in Kinder Morgan during the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC purchased a new position in Kinder Morgan in the first quarter worth $30,000. HWG Holdings LP purchased a new position in Kinder Morgan in the second quarter worth $30,000. Planning Capital Management Corp grew its holdings in Kinder Morgan by 143.6% in the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 797 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Kinder Morgan during the second quarter worth $31,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Price Performance

NYSE KMI traded up $0.16 during trading hours on Friday, hitting $26.92. 318,070 shares of the company’s stock traded hands, compared to its average volume of 13,817,833. Kinder Morgan, Inc. has a 52-week low of $16.47 and a 52-week high of $27.58. The company has a market capitalization of $59.81 billion, a PE ratio of 23.69, a PEG ratio of 3.69 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 firm’s 50-day moving average is $23.72 and its 200-day moving average is $21.40.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.02). The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The firm’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS. Equities analysts forecast that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.2875 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 annualized dividend and a yield of 4.27%. Kinder Morgan’s payout ratio is 100.88%.

Insider Buying and Selling at Kinder Morgan

In related news, Director Amy W. Chronis acquired 2,241 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the acquisition, the director now owns 23,995 shares in the company, valued at $597,235.55. The trade was a 10.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $502,499.88. Following the completion of the transaction, the president now owns 897,652 shares in the company, valued at approximately $23,590,294.56. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price objective on shares of Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group reissued a “conviction-buy” rating on shares of Kinder Morgan in a research note on Friday, October 18th. UBS Group boosted their target price on shares of Kinder Morgan from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Truist Financial boosted their target price on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Kinder Morgan has an average 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.