Kinder Morgan, Inc. (NYSE:KMI) is Sound Shore Management Inc. CT’s 7th Largest Position

Sound Shore Management Inc. CT trimmed its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.9% during the 2nd quarter, Holdings Channel reports. The fund owned 4,766,312 shares of the pipeline company’s stock after selling 141,654 shares during the period. Kinder Morgan comprises about 3.2% of Sound Shore Management Inc. CT’s portfolio, making the stock its 7th largest position. Sound Shore Management Inc. CT’s holdings in Kinder Morgan were worth $94,707,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Kinder Morgan by 15.8% in the first quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock worth $3,665,963,000 after buying an additional 27,254,172 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Kinder Morgan by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,904,252 shares of the pipeline company’s stock worth $335,891,000 after acquiring an additional 257,658 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Kinder Morgan by 23.6% during the 1st quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock worth $204,319,000 after purchasing an additional 2,125,648 shares during the last quarter. Energy Income Partners LLC grew its stake in Kinder Morgan by 2.6% in the first quarter. Energy Income Partners LLC now owns 10,717,452 shares of the pipeline company’s stock valued at $196,558,000 after purchasing an additional 272,648 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its holdings in Kinder Morgan by 45.9% in the first quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock worth $182,665,000 after purchasing an additional 3,135,457 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KMI. Stifel Nicolaus raised their price target on shares of Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Wells Fargo & Company raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $22.00 in a report on Tuesday, June 4th. JPMorgan Chase & Co. increased their price objective on Kinder Morgan from $20.00 to $23.00 and gave the company 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 on the stock in a research note on Monday, September 16th. Finally, UBS Group increased their price target on Kinder Morgan from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Kinder Morgan presently has an average rating of “Hold” and an average target price of $22.55.

Kinder Morgan Stock Up 0.9 %

KMI stock opened at $21.79 on Friday. The company has a market capitalization of $48.36 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 2.90 and a beta of 0.93. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $21.88. The firm’s fifty day simple moving average is $21.16 and its 200-day simple moving average is $19.71. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28.

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

Kinder Morgan Announces Dividend

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

Insiders Place Their Bets

In related news, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the transaction, the president now directly owns 916,773 shares in the company, valued at approximately $19,261,400.73. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. Also, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction dated 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 transaction, the vice president now owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,311 shares of company stock worth $3,121,891. Corporate insiders own 12.64% of the company’s stock.

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.