Atria Wealth Solutions Inc. Decreases Stake in Kinder Morgan, Inc. $KMI

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Kinder Morgan, Inc. by 65.9%, now holding 52,785 shares valued at approximately $1.55 million.
• Despite Atria's decrease, several other institutional investors increased their positions in Kinder Morgan during the same period.
• Kinder Morgan reported Q2 earnings of $0.28 per share, exceeding expectations with revenue of $4.04 billion, marking a 13.2% year-over-year increase.

Atria Wealth Solutions Inc. reduced its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 65.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,785 shares of the pipeline company's stock after selling 102,117 shares during the period. Atria Wealth Solutions Inc.'s holdings in Kinder Morgan were worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of KMI. Alhambra Investment Management LLC lifted its position in shares of Kinder Morgan by 2.3% during the 2nd quarter. Alhambra Investment Management LLC now owns 15,934 shares of the pipeline company's stock worth $468,000 after buying an additional 363 shares during the last quarter. Relyea Zuckerberg Hanson LLC lifted its position in shares of Kinder Morgan by 4.2% during the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 9,377 shares of the pipeline company's stock worth $276,000 after buying an additional 374 shares during the last quarter. QTR Family Wealth LLC lifted its position in shares of Kinder Morgan by 2.7% during the 2nd quarter. QTR Family Wealth LLC now owns 14,380 shares of the pipeline company's stock worth $423,000 after buying an additional 377 shares during the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of Kinder Morgan by 0.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 48,943 shares of the pipeline company's stock worth $1,396,000 after buying an additional 378 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Kinder Morgan by 1.8% during the 1st quarter. Signaturefd LLC now owns 21,068 shares of the pipeline company's stock worth $601,000 after buying an additional 381 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Stock Performance

Shares of KMI opened at $27.18 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.68. The stock has a market capitalization of $60.40 billion, a P/E ratio of 22.28, a P/E/G ratio of 3.25 and a beta of 0.78. The company's fifty day moving average is $27.25 and its two-hundred day moving average is $27.42. Kinder Morgan, Inc. has a 1 year low of $23.94 and a 1 year high of $31.48.

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

Insider Buying and Selling

In other Kinder Morgan news, VP John W. Schlosser sold 6,166 shares of the business's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $28.17, for a total value of $173,696.22. Following the transaction, the vice president directly owned 219,702 shares of the company's stock, valued at approximately $6,189,005.34. The trade was a 2.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David Patrick Michels sold 40,000 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the transaction, the chief financial officer directly owned 159,428 shares in the company, valued at approximately $4,494,275.32. This trade represents a 20.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,174 shares of company stock worth $3,727,678 in the last ninety days. Insiders own 12.73% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Kinder Morgan in a research report on Thursday, October 9th. They set a "hold" rating and a $30.00 price objective for the company. TD Cowen started coverage on shares of Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating and a $34.00 target price on the stock. Morgan Stanley set a $30.00 target price on shares of Kinder Morgan in a report on Thursday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Scotiabank cut their target price on shares of Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating on the stock in a report on Friday, September 19th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Kinder Morgan currently has a consensus rating of "Moderate Buy" and an average target price of $31.13.

Kinder Morgan Company 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.

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