Kingswood Wealth Advisors LLC Cuts Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Kingswood Wealth Advisors LLC trimmed its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 12.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 36,716 shares of the pipeline company’s stock after selling 5,075 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Kinder Morgan were worth $673,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Kinder Morgan during the 4th quarter valued at approximately $409,063,000. Confluence Investment Management LLC purchased a new position in Kinder Morgan during the first quarter valued at $87,627,000. Bank of Nova Scotia increased its holdings in Kinder Morgan by 2,463.8% in the 3rd quarter. Bank of Nova Scotia now owns 4,443,792 shares of the pipeline company’s stock valued at $73,678,000 after acquiring an additional 4,270,461 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Kinder Morgan by 1,121.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 3,965,614 shares of the pipeline company’s stock worth $65,750,000 after purchasing an additional 3,640,939 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Kinder Morgan by 16.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,387,752 shares of the pipeline company’s stock valued at $289,087,000 after purchasing an additional 2,309,550 shares during the last quarter. Institutional investors own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

KMI has been the topic of a number of research analyst reports. Tudor Pickering upgraded Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Truist Financial reiterated a “hold” rating and set a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. StockNews.com cut shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Wells Fargo & Company upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $22.00 in a research report on Tuesday, June 4th. Finally, UBS Group boosted their target price on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Kinder Morgan Trading Down 1.8 %

Shares of KMI opened at $19.74 on Thursday. The company’s fifty day simple moving average is $19.23 and its 200-day simple moving average is $18.18. The company has a market cap of $43.81 billion, a P/E ratio of 17.95, a P/E/G ratio of 3.17 and a beta of 0.92. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a twelve month low of $15.89 and a twelve month high of $20.19.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 EPS. As a group, analysts expect that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a $0.2875 dividend. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, April 29th. This represents a $1.15 dividend on an annualized basis and a yield of 5.83%. Kinder Morgan’s dividend payout ratio (DPR) is presently 104.55%.

Insider Transactions at Kinder Morgan

In other news, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total value of $987,500.00. Following the transaction, the vice president now directly owns 259,069 shares in the company, valued at $5,116,612.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Michael C. Morgan sold 230,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total value of $4,328,600.00. Following the transaction, the director now owns 345,087 shares of the company’s stock, valued at $6,494,537.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total value of $987,500.00. Following the sale, the vice president now directly owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The disclosure for this sale can be found here. Corporate insiders own 12.64% of the company’s stock.

About Kinder Morgan

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.