Founders Financial Alliance LLC Lowers Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Founders Financial Alliance LLC reduced its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 5.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 21,653 shares of the pipeline company’s stock after selling 1,166 shares during the quarter. Founders Financial Alliance LLC’s holdings in Kinder Morgan were worth $430,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of KMI. Oregon Public Employees Retirement Fund lifted its holdings in Kinder Morgan by 0.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock valued at $3,295,000 after acquiring an additional 530 shares during the period. Premier Path Wealth Partners LLC increased its holdings in shares of Kinder Morgan by 1.4% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock valued at $785,000 after purchasing an additional 545 shares in the last quarter. Newman Dignan & Sheerar Inc. lifted its stake in shares of Kinder Morgan by 4.3% in the first quarter. Newman Dignan & Sheerar Inc. now owns 13,173 shares of the pipeline company’s stock valued at $242,000 after purchasing an additional 547 shares during the period. First Horizon Advisors Inc. boosted its holdings in Kinder Morgan by 4.4% during the second quarter. First Horizon Advisors Inc. now owns 13,415 shares of the pipeline company’s stock worth $267,000 after buying an additional 566 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in Kinder Morgan by 3.7% during the second quarter. Benjamin Edwards Inc. now owns 15,967 shares of the pipeline company’s stock worth $317,000 after buying an additional 571 shares during the period. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Kinder Morgan Stock Performance

Shares of NYSE KMI opened at $22.10 on Tuesday. The company has a 50-day simple moving average of $21.30 and a 200-day simple moving average of $19.92. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The company has a market cap of $49.04 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.93. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $22.33.

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

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were given a $0.2875 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.15 annualized dividend and a dividend yield of 5.20%. Kinder Morgan’s dividend payout ratio is presently 104.55%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KMI. Stifel Nicolaus lifted their price target on shares of Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Truist Financial lifted their price objective on Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Morgan Stanley raised Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 target price on the stock in a report on Monday, September 16th. Scotiabank lifted their price target 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. 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 note on Tuesday, July 30th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.55.

Insider Activity at Kinder Morgan

In related news, 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 owns 307,409 shares in the company, valued at $6,455,589. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.04, for a total value of $529,555.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the sale, the vice president now directly owns 307,409 shares in the company, valued at $6,455,589. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,311 shares of company stock worth $3,121,891. 12.64% of the stock is owned by company insiders.

Kinder Morgan 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.