Atria Wealth Solutions Inc. Has $4.42 Million Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Kinder Morgan, Inc. by 16.2%, selling 29,877 shares to hold a total of 154,902 shares valued at $4,419,000.
• Kinder Morgan reported a quarterly earnings per share (EPS) of $0.28, meeting analysts' expectations, with revenues of $4.04 billion, a 13.2% increase year-over-year.
• The company announced a quarterly dividend of $0.2925 per share with a yield of 4.4%, scheduled to be paid on August 15th.

Atria Wealth Solutions Inc. lessened its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 16.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 154,902 shares of the pipeline company's stock after selling 29,877 shares during the period. Atria Wealth Solutions Inc.'s holdings in Kinder Morgan were worth $4,419,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in KMI. Morton Capital Management LLC CA raised its holdings in Kinder Morgan by 1.0% in the 1st quarter. Morton Capital Management LLC CA now owns 37,981 shares of the pipeline company's stock valued at $1,084,000 after acquiring an additional 377 shares in the last quarter. Diligent Investors LLC raised its holdings in Kinder Morgan by 1.5% in the 4th quarter. Diligent Investors LLC now owns 26,083 shares of the pipeline company's stock valued at $715,000 after acquiring an additional 381 shares in the last quarter. Signaturefd LLC raised its holdings in Kinder Morgan by 1.8% in the 1st quarter. Signaturefd LLC now owns 21,068 shares of the pipeline company's stock valued at $601,000 after acquiring an additional 381 shares in the last quarter. Aspiriant LLC raised its holdings in Kinder Morgan by 1.7% in the 1st quarter. Aspiriant LLC now owns 23,738 shares of the pipeline company's stock valued at $677,000 after acquiring an additional 396 shares in the last quarter. Finally, Sowell Financial Services LLC raised its holdings in Kinder Morgan by 0.5% in the 1st quarter. Sowell Financial Services LLC now owns 79,825 shares of the pipeline company's stock valued at $2,277,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company's stock.

Analyst Upgrades and Downgrades

KMI has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Barclays reaffirmed an "overweight" rating and issued a $32.00 price target (up previously from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. TD Cowen assumed coverage on Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating and a $34.00 target price for the company. Scotiabank increased their target price on Kinder Morgan from $27.00 to $28.00 and gave the stock a "sector perform" rating in a report on Friday, July 18th. Finally, Cowen assumed coverage on Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating for the company. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.13.

Kinder Morgan Price Performance

NYSE KMI traded up $0.13 during trading hours on Friday, reaching $26.89. 15,114,704 shares of the company's stock were exchanged, compared to its average volume of 18,056,652. The stock has a market cap of $59.75 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 3.39 and a beta of 0.78. Kinder Morgan, Inc. has a one year low of $20.56 and a one year high of $31.48. The firm has a fifty day moving average of $27.89 and a 200-day moving average of $27.43. The company has a current ratio of 0.68, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, hitting analysts' consensus estimates of $0.28. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates 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 for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 EPS. On average, equities research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

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

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total value of $508,680.00. Following the transaction, the president directly owned 771,652 shares in the company, valued at approximately $21,806,885.52. This trade represents a 2.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Patrick Michels sold 40,000 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $28.19, for a total value of $1,127,600.00. Following the completion of the transaction, the chief financial officer owned 159,428 shares in the company, valued at $4,494,275.32. The trade was a 20.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 109,715 shares of company stock worth $3,081,245. Corporate insiders own 12.73% of the company's stock.

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.