Quarry LP Buys Shares of 2,621 Kinder Morgan, Inc. (NYSE:KMI)

Quarry LP purchased a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,621 shares of the pipeline company’s stock, valued at approximately $52,000.

A number of other institutional investors have also modified their holdings of KMI. Second Line Capital LLC purchased a new position in Kinder Morgan during the 2nd quarter worth $204,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Kinder Morgan during the second quarter worth about $2,555,000. NewEdge Advisors LLC increased its holdings in shares of Kinder Morgan by 30.7% during the second quarter. NewEdge Advisors LLC now owns 291,085 shares of the pipeline company’s stock valued at $5,784,000 after acquiring an additional 68,308 shares in the last quarter. Silver Lake Advisory LLC raised its position in shares of Kinder Morgan by 2.0% in the 2nd quarter. Silver Lake Advisory LLC now owns 239,335 shares of the pipeline company’s stock valued at $4,756,000 after purchasing an additional 4,664 shares during the last quarter. Finally, Creative Planning boosted its stake in Kinder Morgan by 16.4% in the 2nd quarter. Creative Planning now owns 391,908 shares of the pipeline company’s stock worth $7,787,000 after purchasing an additional 55,207 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

Kinder Morgan Price Performance

NYSE:KMI opened at $23.62 on Friday. 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 50 day moving average price of $21.44 and a 200-day moving average price of $20.04. Kinder Morgan, Inc. has a 1-year low of $15.90 and a 1-year high of $23.65. The firm has a market cap of $52.42 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 3.09 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data 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). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The firm had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were given a dividend of $0.2875 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.87%. Kinder Morgan’s dividend payout ratio is currently 104.55%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KMI. JPMorgan Chase & Co. raised their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Morgan Stanley upgraded Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 target price for the company in a research note on Monday, September 16th. 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. Royal Bank of Canada raised their price objective on Kinder Morgan from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 30th. Finally, 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. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.55.

Insider Buying and Selling at Kinder Morgan

In related news, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the president now owns 916,773 shares of the company’s stock, valued at $19,261,400.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 307,409 shares in the company, valued at $6,455,589. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,311 shares of company stock valued at $3,121,891. Company insiders own 12.64% of the company’s stock.

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.