Atria Investments Inc Reduces Position in Kinder Morgan, Inc. $KMI

Atria Investments Inc lessened its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 19.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,684 shares of the pipeline company’s stock after selling 20,011 shares during the period. Atria Investments Inc’s holdings in Kinder Morgan were worth $2,341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KMI. Vanguard Group Inc. increased its position in Kinder Morgan by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 207,219,481 shares of the pipeline company’s stock valued at $6,092,253,000 after purchasing an additional 3,070,609 shares during the period. Geode Capital Management LLC boosted its position in Kinder Morgan by 1.2% during the second quarter. Geode Capital Management LLC now owns 51,848,863 shares of the pipeline company’s stock worth $1,518,195,000 after purchasing an additional 599,152 shares in the last quarter. Norges Bank acquired a new position in shares of Kinder Morgan during the 2nd quarter worth approximately $1,162,802,000. Orbis Allan Gray Ltd grew its stake in Kinder Morgan by 3.1% during the 2nd quarter. Orbis Allan Gray Ltd now owns 22,635,179 shares of the pipeline company’s stock valued at $665,474,000 after acquiring an additional 670,856 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Kinder Morgan by 2.8% during the second quarter. Invesco Ltd. now owns 21,949,329 shares of the pipeline company’s stock worth $645,310,000 after buying an additional 603,197 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Price Performance

KMI stock opened at $32.30 on Tuesday. The business’s 50-day moving average is $28.42 and its two-hundred day moving average is $27.55. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.64 and a quick ratio of 0.49. The firm has a market capitalization of $71.86 billion, a P/E ratio of 23.58, a P/E/G ratio of 2.66 and a beta of 0.70. Kinder Morgan, Inc. has a 1 year low of $23.94 and a 1 year high of $32.34.

Kinder Morgan (NYSE:KMI) last issued its earnings results on Wednesday, January 21st. The pipeline company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. Kinder Morgan had a net margin of 18.04% and a return on equity of 9.02%. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter last year, the company earned $0.30 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. Analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd will be issued a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, February 2nd. Kinder Morgan’s payout ratio is 85.40%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Scotiabank increased their price target on shares of Kinder Morgan from $29.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, January 23rd. UBS Group reaffirmed a “buy” rating and set a $38.00 target price on shares of Kinder Morgan in a research note on Friday, December 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Kinder Morgan in a research report on Thursday, January 22nd. TD Cowen upped their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Jefferies Financial Group lifted their target price on shares of Kinder Morgan from $29.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.38.

Insider Transactions at Kinder Morgan

In other news, CFO David Patrick Michels sold 20,000 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $30.00, for a total value 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 approximately $4,182,840. The trade was a 12.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William A. Smith bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average cost of $29.75 per share, with a total value of $89,250.00. Following the completion of the transaction, the director owned 31,087 shares in the company, valued at approximately $924,838.25. This trade represents a 10.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 38,498 shares of company stock valued at $1,126,515. 12.73% of the stock is currently owned by corporate insiders.

Kinder Morgan Company 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.