Bank of New York Mellon Corp Lowers Stock Position in Kinder Morgan, Inc. $KMI

Bank of New York Mellon Corp trimmed its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,739,667 shares of the pipeline company’s stock after selling 177,534 shares during the period. Bank of New York Mellon Corp owned about 0.57% of Kinder Morgan worth $360,660,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. LFA Lugano Financial Advisors SA acquired a new stake in Kinder Morgan in the second quarter valued at $26,000. CoreFirst Bank & Trust purchased a new position in shares of Kinder Morgan in the 2nd quarter valued at about $35,000. Private Wealth Management Group LLC increased its holdings in shares of Kinder Morgan by 94.9% in the 3rd quarter. Private Wealth Management Group LLC now owns 1,222 shares of the pipeline company’s stock valued at $35,000 after purchasing an additional 595 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Kinder Morgan in the second quarter valued at about $40,000. Finally, Capital A Wealth Management LLC purchased a new stake in Kinder Morgan during the second quarter worth about $41,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on KMI. TD Cowen boosted their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a report on Thursday, January 22nd. Mizuho dropped their price objective on shares of Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Morgan Stanley set a $35.00 target price on Kinder Morgan in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada raised their price target on Kinder Morgan from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Kinder Morgan has a consensus rating of “Moderate Buy” and a consensus price target of $32.38.

Kinder Morgan Trading Up 0.5%

Shares of KMI opened at $30.24 on Friday. Kinder Morgan, Inc. has a fifty-two week low of $23.94 and a fifty-two week high of $30.57. The company has a market capitalization of $67.27 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69. The stock has a fifty day moving average of $27.50 and a two-hundred day moving average of $27.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.64.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, January 21st. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Kinder Morgan had a return on equity of 9.02% and a net margin of 18.04%.The business had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter last year, the firm earned $0.30 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. As a group, analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, February 2nd. Kinder Morgan’s dividend payout ratio is presently 85.40%.

Insider Activity at Kinder Morgan

In other news, CFO David Patrick Michels sold 20,000 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $30.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 139,428 shares of the company’s stock, valued at $4,182,840. The trade was a 12.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John W. Schlosser sold 6,166 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $27.49, for a total value of $169,503.34. Following the sale, the vice president owned 201,204 shares of the company’s stock, valued at approximately $5,531,097.96. The trade was a 2.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 38,498 shares of company stock worth $1,107,462 over the last three months. Corporate insiders own 12.73% of the company’s stock.

Kinder Morgan Profile

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.