Bank of New York Mellon Corp Sells 190,039 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Bank of New York Mellon Corp lowered its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,060,975 shares of the pipeline company’s stock after selling 190,039 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kinder Morgan were worth $259,522,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of KMI. Vanguard Group Inc. increased its position in Kinder Morgan by 15.8% during the 1st quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock valued at $3,665,963,000 after purchasing an additional 27,254,172 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Kinder Morgan by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,187,667 shares of the pipeline company’s stock worth $506,320,000 after buying an additional 317,980 shares in the last quarter. Norges Bank purchased a new stake in Kinder Morgan during the fourth quarter worth $409,063,000. Dimensional Fund Advisors LP boosted its position in 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 acquiring an additional 2,309,550 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Kinder Morgan by 23.6% in the 1st quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock valued at $204,319,000 after acquiring an additional 2,125,648 shares during the period. Institutional investors own 62.52% of the company’s stock.

Analysts Set New Price Targets

KMI has been the subject of a number of analyst reports. Royal Bank of Canada upped 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. JPMorgan Chase & Co. raised their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. UBS Group boosted their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Wells Fargo & Company upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $18.00 to $22.00 in a research note on Tuesday, June 4th. Finally, Barclays upped their price target on Kinder Morgan from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Kinder Morgan presently has a consensus rating of “Moderate Buy” and an average target price of $22.11.

Insider Activity

In related news, President Thomas A. Martin sold 100,000 shares of Kinder Morgan 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 directly owns 916,773 shares in the company, valued at $19,261,400.73. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, President Thomas A. Martin sold 100,000 shares of the firm’s 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 sale, the president now owns 916,773 shares in the company, valued at $19,261,400.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. The disclosure for this sale can be found here. Insiders sold a total of 148,311 shares of company stock valued at $3,121,891 in the last quarter. 12.64% of the stock is currently owned by company insiders.

Kinder Morgan Trading Up 0.7 %

Kinder Morgan stock opened at $21.43 on Tuesday. The stock has a 50-day moving average price of $20.61 and a 200 day moving average price of $19.18. The company has a market capitalization of $47.56 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 2.92 and a beta of 0.93. Kinder Morgan, Inc. has a 52 week low of $15.89 and a 52 week high of $21.86. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the company earned $0.24 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. Sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.2 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.2875 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.37%. Kinder Morgan’s payout ratio is currently 104.55%.

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.