New York State Common Retirement Fund Cuts Stake in Kinder Morgan, Inc. (NYSE:KMI)

New York State Common Retirement Fund cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 23.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 879,130 shares of the pipeline company’s stock after selling 273,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Kinder Morgan were worth $19,420,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Hills Bank & Trust Co purchased a new position in Kinder Morgan in the third quarter valued at about $101,000. Stephens Inc. AR grew its stake in shares of Kinder Morgan by 3.0% during the third quarter. Stephens Inc. AR now owns 144,268 shares of the pipeline company’s stock valued at $3,187,000 after acquiring an additional 4,253 shares in the last quarter. United Asset Strategies Inc. grew its stake in shares of Kinder Morgan by 3.6% during the third quarter. United Asset Strategies Inc. now owns 544,843 shares of the pipeline company’s stock valued at $12,036,000 after acquiring an additional 19,181 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Kinder Morgan by 11.5% during the third quarter. Rosenberg Matthew Hamilton now owns 10,281 shares of the pipeline company’s stock valued at $227,000 after acquiring an additional 1,058 shares in the last quarter. Finally, HM Payson & Co. grew its stake in shares of Kinder Morgan by 401.8% during the third quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 1,145 shares in the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 transaction of $36,309.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the sale, the director now owns 6,809,858 shares of the company’s stock, valued at $168,543,985.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dax Sanders sold 1,729 shares of the business’s 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 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 disclosure for this sale can be found here. Corporate insiders own 12.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on KMI shares. UBS Group raised their target price on Kinder Morgan from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus raised their target price on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Barclays lifted their price target on Kinder Morgan from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday. Royal Bank of Canada lifted their price target on Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group reiterated a “conviction-buy” rating on shares of Kinder Morgan in a research note on Friday, October 18th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $25.09.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $24.49 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average of $22.91 and a two-hundred day moving average of $21.00. Kinder Morgan, Inc. has a 52 week low of $16.17 and a 52 week high of $25.43. The company has a market cap of $54.41 billion, a P/E ratio of 21.48, a PEG ratio of 3.03 and a beta of 0.91.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.25 EPS. As a group, analysts anticipate 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 will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.2875 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.70%. Kinder Morgan’s dividend payout ratio (DPR) is presently 100.88%.

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.