Harmony Asset Management LLC Sells 11,806 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Harmony Asset Management LLC decreased its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 7.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 139,705 shares of the pipeline company’s stock after selling 11,806 shares during the quarter. Kinder Morgan accounts for about 1.2% of Harmony Asset Management LLC’s holdings, making the stock its 27th biggest holding. Harmony Asset Management LLC’s holdings in Kinder Morgan were worth $2,776,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of KMI. Estabrook Capital Management lifted its stake in shares of Kinder Morgan by 78.1% during the 2nd quarter. Estabrook Capital Management now owns 67,263 shares of the pipeline company’s stock worth $1,337,000 after purchasing an additional 29,500 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Kinder Morgan by 25.5% during the second quarter. EverSource Wealth Advisors LLC now owns 9,497 shares of the pipeline company’s stock valued at $201,000 after buying an additional 1,931 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Kinder Morgan in the 2nd quarter valued at about $2,561,000. Frank Rimerman Advisors LLC grew its position in shares of Kinder Morgan by 8,425.6% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 88,240 shares of the pipeline company’s stock worth $1,753,000 after buying an additional 87,205 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Kinder Morgan by 4.5% during the 2nd quarter. ProShare Advisors LLC now owns 540,050 shares of the pipeline company’s stock worth $10,731,000 after acquiring an additional 23,039 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.

Insiders Place Their Bets

In other news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the sale, the president now directly owns 916,773 shares in the company, valued at approximately $19,261,400.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Sital K. Mody sold 25,169 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.04, for a total transaction of $529,555.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Thomas A. Martin sold 100,000 shares of Kinder Morgan stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the completion of the sale, the president now directly owns 916,773 shares in the company, valued at approximately $19,261,400.73. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,311 shares of company stock worth $3,121,891. Company insiders own 12.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on KMI shares. JPMorgan Chase & Co. raised their target price on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Scotiabank boosted their target price on Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Stifel Nicolaus upped 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. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Friday, July 19th. Finally, Royal Bank of Canada increased their price objective on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 30th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.55.

Kinder Morgan Price Performance

NYSE:KMI opened at $21.79 on Monday. The firm’s fifty day moving average is $21.16 and its two-hundred day moving average is $19.74. The firm has a market cap of $48.36 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.90 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.37. Kinder Morgan, Inc. has a one year low of $15.89 and a one year high of $21.88.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The company had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the company earned $0.24 EPS. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts expect that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a dividend of $0.2875 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.15 annualized dividend and a yield of 5.28%. Kinder Morgan’s dividend payout ratio is presently 104.55%.

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.