Wealth Alliance Sells 656 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Wealth Alliance lowered its stake in Kinder Morgan, Inc. (NYSE:KMI) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,441 shares of the pipeline company’s stock after selling 656 shares during the quarter. Wealth Alliance’s holdings in Kinder Morgan were worth $207,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC raised its holdings in shares of Kinder Morgan by 3,655.3% during the fourth quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 1,389 shares during the period. Pathway Financial Advisers LLC bought a new stake in Kinder Morgan in the 1st quarter valued at about $30,000. OFI Invest Asset Management acquired a new position in Kinder Morgan during the 1st quarter worth approximately $31,000. Redmont Wealth Advisors LLC bought a new position in Kinder Morgan in the first quarter worth approximately $31,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Kinder Morgan in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock opened at $21.79 on Friday. The business’s fifty day simple moving average is $21.16 and its 200 day simple moving average is $19.71. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $21.88. The firm 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 (NYSE:KMI) last released its earnings results on Wednesday, July 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. As a group, analysts anticipate that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

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

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Sital K. Mody sold 21,413 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were 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 $534,841.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 307,409 shares in the company, valued at $6,455,589. The disclosure for this sale can be found here. Insiders sold a total of 148,311 shares of company stock worth $3,121,891 in the last quarter. Insiders own 12.64% of the company’s stock.

Analysts Set New Price Targets

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

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.