1834 Investment Advisors Co. Trims Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• 1834 Investment Advisors Co. reduced its stake in Kinder Morgan, selling 19,374 shares and lowering its ownership by 4.3%, leaving them with 427,696 shares valued at $12.2 million.
• Institutional investors like Goldman Sachs and Vanguard Group have increased their holdings in Kinder Morgan, with Goldman Sachs raising its stake by 37.5% in the first quarter.
• Kinder Morgan recently declared a quarterly dividend of $0.2925 per share, which represents an annualized yield of 4.4% and a payout ratio of 95.90%.

1834 Investment Advisors Co. decreased its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 427,696 shares of the pipeline company's stock after selling 19,374 shares during the period. Kinder Morgan comprises 1.6% of 1834 Investment Advisors Co.'s portfolio, making the stock its 14th largest holding. 1834 Investment Advisors Co.'s holdings in Kinder Morgan were worth $12,202,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new position in shares of Kinder Morgan in the fourth quarter valued at approximately $308,000. Federated Hermes Inc. increased its position in shares of Kinder Morgan by 8.9% in the fourth quarter. Federated Hermes Inc. now owns 19,054 shares of the pipeline company's stock worth $522,000 after acquiring an additional 1,553 shares in the last quarter. FMR LLC increased its position in shares of Kinder Morgan by 19.0% in the fourth quarter. FMR LLC now owns 3,871,677 shares of the pipeline company's stock worth $106,084,000 after acquiring an additional 618,290 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Kinder Morgan by 350.9% in the fourth quarter. Bank of Nova Scotia now owns 1,298,734 shares of the pipeline company's stock valued at $35,585,000 after purchasing an additional 1,010,716 shares during the period. Finally, Advisory Services Network LLC boosted its stake in shares of Kinder Morgan by 0.4% in the fourth quarter. Advisory Services Network LLC now owns 112,904 shares of the pipeline company's stock valued at $3,094,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 62.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KMI shares. Wells Fargo & Company raised their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. lifted their price objective on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. TD Cowen began coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating and a $34.00 target price on the stock. Morgan Stanley set a $34.00 target price on shares of Kinder Morgan in a research note on Monday, July 7th. Finally, Wolfe Research raised shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research note on Friday, July 25th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.13.

Kinder Morgan Trading Up 0.5%

KMI stock traded up $0.13 during midday trading on Friday, hitting $26.89. The stock had a trading volume of 15,114,704 shares, compared to its average volume of 18,056,652. Kinder Morgan, Inc. has a 1-year low of $20.56 and a 1-year high of $31.48. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The business has a fifty day moving average price of $27.89 and a two-hundred day moving average price of $27.43. The firm has a market cap of $59.75 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 3.39 and a beta of 0.78.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.75 billion. Kinder Morgan had a return on equity of 8.31% and a net margin of 17.06%. Kinder Morgan's revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, sell-side analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Thursday, July 31st will be paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, July 31st. Kinder Morgan's payout ratio is 95.90%.

Insiders Place Their Bets

In other Kinder Morgan news, CFO David Patrick Michels sold 40,000 shares of Kinder Morgan stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $28.19, for a total value of $1,127,600.00. Following the transaction, the chief financial officer directly owned 159,428 shares of the company's stock, valued at $4,494,275.32. The trade was a 20.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy W. Chronis purchased 2,759 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were purchased at an average price of $27.21 per share, for a total transaction of $75,072.39. Following the completion of the transaction, the director directly owned 34,764 shares of the company's stock, valued at $945,928.44. This represents a 8.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 109,715 shares of company stock worth $3,081,245. 12.73% of the stock is currently owned by corporate insiders.

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.