Cyndeo Wealth Partners LLC Sells 23,088 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Cyndeo Wealth Partners LLC cut its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 283,769 shares of the pipeline company's stock after selling 23,088 shares during the period. Cyndeo Wealth Partners LLC's holdings in Kinder Morgan were worth $8,096,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Centricity Wealth Management LLC acquired a new stake in shares of Kinder Morgan during the fourth quarter worth $25,000. Hurley Capital LLC bought a new stake in Kinder Morgan during the fourth quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new stake in Kinder Morgan during the 4th quarter worth about $26,000. Morse Asset Management Inc acquired a new position in shares of Kinder Morgan in the 4th quarter valued at about $27,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Kinder Morgan during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 62.52% of the company's stock.

Kinder Morgan Stock Up 0.1%

Shares of NYSE:KMI traded up $0.02 during mid-day trading on Monday, hitting $27.66. 11,840,106 shares of the company traded hands, compared to its average volume of 14,046,965. The stock has a market cap of $61.47 billion, a P/E ratio of 23.64, a P/E/G ratio of 3.08 and a beta of 0.74. The stock has a 50-day moving average price of $27.28 and a two-hundred day moving average price of $27.43. Kinder Morgan, Inc. has a 12-month low of $19.47 and a 12-month high of $31.48. The company has a current ratio of 0.49, a quick ratio of 0.39 and a debt-to-equity ratio of 0.94.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its earnings results on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.02 billion. On average, equities research analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Wednesday, April 30th. This is an increase from Kinder Morgan's previous quarterly dividend of $0.29. Kinder Morgan's payout ratio is presently 100.86%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KMI shares. Wells Fargo & Company reissued an "overweight" rating on shares of Kinder Morgan in a research note on Monday, May 5th. Royal Bank of Canada boosted their target price on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. raised their price target on shares of Kinder Morgan from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Barclays upgraded shares of Kinder Morgan from an "equal weight" rating to an "overweight" rating and set a $31.00 price objective on the stock in a report on Monday, March 3rd. Finally, Scotiabank boosted their target price on Kinder Morgan from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Thursday, June 5th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.21.

Insider Activity

In related news, President Thomas A. Martin sold 18,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $28.75, for a total value of $517,500.00. Following the transaction, the president now directly owns 807,652 shares of the company's stock, valued at approximately $23,219,995. The trade was a 2.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 54,000 shares of company stock valued at $1,522,440 over the last three months. Corporate insiders own 12.73% of the company's stock.

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.