Hartford Investment Management Co. Cuts Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Hartford Investment Management Co. trimmed its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 121,496 shares of the pipeline company’s stock after selling 1,875 shares during the quarter. Hartford Investment Management Co.’s holdings in Kinder Morgan were worth $2,684,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Greenleaf Trust lifted its position in Kinder Morgan by 4.6% during the third quarter. Greenleaf Trust now owns 59,711 shares of the pipeline company’s stock valued at $1,319,000 after acquiring an additional 2,635 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Kinder Morgan during the third quarter worth $240,000. Albert D Mason Inc. lifted its holdings in shares of Kinder Morgan by 1.4% during the 3rd quarter. Albert D Mason Inc. now owns 73,642 shares of the pipeline company’s stock valued at $1,627,000 after purchasing an additional 1,051 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Kinder Morgan by 0.7% in the 3rd quarter. Private Advisor Group LLC now owns 170,781 shares of the pipeline company’s stock worth $3,773,000 after purchasing an additional 1,141 shares in the last quarter. Finally, Segment Wealth Management LLC grew its stake in Kinder Morgan by 90.8% during the 3rd quarter. Segment Wealth Management LLC now owns 25,282 shares of the pipeline company’s stock worth $558,000 after buying an additional 12,030 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus increased their price target on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Friday, July 19th. UBS Group increased their price objective on Kinder Morgan from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank of Canada lifted their target price on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Scotiabank increased their price target on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.91.

Kinder Morgan Stock Performance

Shares of NYSE KMI opened at $24.76 on Thursday. The company has a market capitalization of $54.95 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 3.27 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. The company’s fifty day moving average price is $22.35 and its 200 day moving average price is $20.61. Kinder Morgan, Inc. has a 1 year low of $15.91 and a 1 year high of $25.43.

Kinder Morgan (NYSE:KMI) last posted its earnings results 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). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the previous year, the company earned $0.25 earnings per share. The company’s revenue was down 5.3% compared to the same quarter last year. On average, research analysts predict that Kinder Morgan, Inc. will post 1.19 earnings per share for the current year.

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is presently 104.55%.

Insider Transactions 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 related news, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction dated Tuesday, August 13th. The stock was 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 approximately $6,455,589. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Sital K. Mody sold 25,169 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The disclosure for this sale can be found here. Insiders sold a total of 817,040 shares of company stock valued at $19,747,879 in the last three months. 12.64% of the stock is currently owned by company insiders.

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.