Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 9.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 832,000 shares of the pipeline company’s stock after selling 89,700 shares during the period. Gabelli Funds LLC’s holdings in Kinder Morgan were worth $16,532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of KMI. True Wealth Design LLC raised its holdings in Kinder Morgan by 3,655.3% in the 4th quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 1,389 shares during the last quarter. Pathway Financial Advisers LLC acquired a new stake in shares of Kinder Morgan in the first quarter valued at approximately $30,000. OFI Invest Asset Management purchased a new position in Kinder Morgan during the first quarter worth approximately $31,000. Redmont Wealth Advisors LLC acquired a new position in Kinder Morgan during the first quarter worth $31,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Kinder Morgan in the 2nd quarter valued at $31,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on KMI. Argus upgraded Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Friday, July 19th. Tudor Pickering upgraded shares of Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Royal Bank of Canada raised their price target on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 30th. Truist Financial upped their price objective on Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $22.00 in a research note on Tuesday, June 4th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.55.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock opened at $21.79 on Monday. The stock has a market capitalization of $48.36 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 2.90 and a beta of 0.93. 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 business has a 50-day moving average of $21.16 and a 200 day moving average of $19.74. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $21.88.

Kinder Morgan (NYSE:KMI) last announced 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). The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $4.13 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 5.28%. The ex-dividend date was Wednesday, July 31st. Kinder Morgan’s payout ratio is currently 104.55%.

Insider Buying and Selling

In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the sale, the vice president now owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the 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 of the company’s stock, valued at approximately $6,455,589. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Sital K. Mody sold 21,413 shares of Kinder Morgan stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total transaction of $455,026.25. Following the sale, the vice president now directly owns 25,169 shares of the company’s stock, valued at $534,841.25. The disclosure for this sale can be found here. Insiders sold 148,311 shares of company stock valued at $3,121,891 in the last three months. 12.64% of the stock is owned by corporate 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.