Steel Grove Capital Advisors LLC Decreases Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Steel Grove Capital Advisors LLC lowered its position in Kinder Morgan, Inc. (NYSE:KMI) by 15.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,692 shares of the pipeline company’s stock after selling 22,055 shares during the quarter. Kinder Morgan makes up approximately 0.3% of Steel Grove Capital Advisors LLC’s portfolio, making the stock its 28th biggest position. Steel Grove Capital Advisors LLC’s holdings in Kinder Morgan were worth $2,438,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its stake in Kinder Morgan by 0.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock worth $3,295,000 after purchasing an additional 530 shares during the period. Premier Path Wealth Partners LLC increased its stake in shares of Kinder Morgan by 1.4% in the second quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock worth $785,000 after buying an additional 545 shares during the period. Newman Dignan & Sheerar Inc. raised its holdings in Kinder Morgan by 4.3% during the 1st quarter. Newman Dignan & Sheerar Inc. now owns 13,173 shares of the pipeline company’s stock valued at $242,000 after buying an additional 547 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Kinder Morgan by 4.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 13,415 shares of the pipeline company’s stock valued at $267,000 after buying an additional 566 shares during the period. Finally, Benjamin Edwards Inc. grew its holdings in Kinder Morgan by 3.7% in the 2nd quarter. Benjamin Edwards Inc. now owns 15,967 shares of the pipeline company’s stock worth $317,000 after acquiring an additional 571 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on KMI. Royal Bank of Canada increased their target price 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. Morgan Stanley upgraded Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 target price for the company in a report on Monday, September 16th. Wells Fargo & Company raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $22.00 in a research report on Tuesday, June 4th. Stifel Nicolaus raised their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Kinder Morgan has a consensus rating of “Hold” and an average price target of $22.55.

Insiders Place Their Bets

In related 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 completion of the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction dated 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 directly owns 307,409 shares of the company’s stock, valued at $6,455,589. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Sital K. Mody sold 21,413 shares of the company’s 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 completion of the transaction, the vice president now directly owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The disclosure for this sale can be found here. Insiders sold a total of 148,311 shares of company stock worth $3,121,891 over the last quarter. 12.64% of the stock is currently owned by corporate insiders.

Kinder Morgan Stock Up 0.9 %

Shares of Kinder Morgan stock opened at $21.79 on Monday. The stock has a market capitalization of $48.36 billion, a PE 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 quick ratio of 0.28 and a current ratio of 0.37. Kinder Morgan, Inc. has a 52-week low of $15.89 and a 52-week high of $21.88. The company has a 50-day simple moving average of $21.16 and a two-hundred day simple moving average of $19.74.

Kinder Morgan (NYSE:KMI) last posted its 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 net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the company posted $0.24 EPS. Kinder Morgan’s revenue was up 2.0% on a year-over-year basis. On average, analysts anticipate that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal 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 dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 5.28%. The ex-dividend date was Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is presently 104.55%.

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.