Estabrook Capital Management Has $1.34 Million Position in Kinder Morgan, Inc. (NYSE:KMI)

Estabrook Capital Management grew its position in Kinder Morgan, Inc. (NYSE:KMI) by 78.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,263 shares of the pipeline company’s stock after purchasing an additional 29,500 shares during the period. Estabrook Capital Management’s holdings in Kinder Morgan were worth $1,337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Kinder Morgan by 25.5% during the second quarter. EverSource Wealth Advisors LLC now owns 9,497 shares of the pipeline company’s stock worth $201,000 after acquiring an additional 1,931 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Kinder Morgan during the second quarter worth about $2,561,000. Frank Rimerman Advisors LLC lifted its holdings in shares of Kinder Morgan by 8,425.6% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 88,240 shares of the pipeline company’s stock valued at $1,753,000 after purchasing an additional 87,205 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Kinder Morgan by 4.5% in the 2nd quarter. ProShare Advisors LLC now owns 540,050 shares of the pipeline company’s stock valued at $10,731,000 after purchasing an additional 23,039 shares during the period. Finally, Profund Advisors LLC increased its stake in Kinder Morgan by 9.1% during the 2nd quarter. Profund Advisors LLC now owns 102,460 shares of the pipeline company’s stock worth $2,036,000 after purchasing an additional 8,533 shares in the last quarter. 62.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Sital K. Mody sold 21,413 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the sale, the vice president now directly 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 this link. In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 307,409 shares in the company, valued at $6,455,589. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Sital K. Mody sold 21,413 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the transaction, the vice president now directly owns 25,169 shares in the company, valued at $534,841.25. The disclosure for this sale can be found here. Insiders have sold a total of 148,311 shares of company stock valued at $3,121,891 over the last 90 days. 12.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note 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. Tudor Pickering upgraded Kinder Morgan to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Barclays increased their price objective on Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Friday, September 13th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Kinder Morgan has a consensus rating of “Hold” and a consensus target price of $22.55.

Kinder Morgan Trading Up 0.9 %

Shares of Kinder Morgan stock opened at $21.79 on Friday. The stock has a market cap of $48.36 billion, a P/E ratio of 19.81, a P/E/G ratio of 2.90 and a beta of 0.93. 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, Inc. has a 12-month low of $15.89 and a 12-month high of $21.88. The business’s 50 day moving average is $21.16 and its 200-day moving average is $19.73.

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

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a dividend of $0.2875 per share. 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 currently 104.55%.

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.