Kinder Morgan, Inc. $KMI Position Decreased by Bahl & Gaynor LLC

Key Points

• Bahl & Gaynor cut its Kinder Morgan stake by 68.4% in the third quarter, selling about 2.1 million shares and retaining 970,158 shares valued at $29.25 million. Institutional investors collectively own 62.52% of the company.
• Chairman Richard Kinder bought 500,000 shares for nearly $15 million, while a company vice president sold 1,550 shares under a pre-arranged trading plan.
• Kinder Morgan beat quarterly earnings and revenue expectations, reporting EPS of $0.35 and revenue of $4.53 billion; it declared a $0.2975 quarterly dividend per share. Analysts’ average rating was “Moderate Buy,” with a $37.15 average price target.

Bahl & Gaynor LLC decreased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 68.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 970,158 shares of the pipeline company's stock after selling 2,098,906 shares during the period. Bahl & Gaynor LLC's holdings in Kinder Morgan were worth $29,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mesirow Financial Investment Management Inc. raised its stake in shares of Kinder Morgan by 1.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 326,177 shares of the pipeline company's stock worth $9,834,000 after buying an additional 3,165 shares during the period. Woodley Farra Manion Portfolio Management Inc. grew its stake in shares of Kinder Morgan by 3.6% during the 3rd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 168,927 shares of the pipeline company's stock valued at $5,093,000 after acquiring an additional 5,817 shares during the period. Lido Advisors LLC increased its holdings in Kinder Morgan by 4.1% in the 3rd quarter. Lido Advisors LLC now owns 316,764 shares of the pipeline company's stock worth $9,550,000 after acquiring an additional 12,591 shares in the last quarter. Csenge Advisory Group increased its holdings in Kinder Morgan by 5.9% in the 3rd quarter. Csenge Advisory Group now owns 54,209 shares of the pipeline company's stock worth $1,634,000 after acquiring an additional 3,018 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in Kinder Morgan by 4.3% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 45,514 shares of the pipeline company's stock worth $1,372,000 after acquiring an additional 1,859 shares during the period. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, VP Michael P. Garthwaite sold 1,550 shares of the firm's stock in a transaction on Friday, October 16th. The stock was sold at an average price of $33.65, for a total transaction of $52,157.50. Following the transaction, the vice president directly owned 47,313 shares in the company, valued at $1,592,082.45. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Richard D. Kinder bought 500,000 shares of the firm's stock in a transaction on Friday, November 6th. The shares were purchased at an average cost of $29.99 per share, with a total value of $14,995,000.00. Following the completion of the transaction, the chairman owned 246,712,353 shares in the company, valued at $7,398,903,466.47. This represents a 0.20% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 9,300 shares of company stock worth $292,098. Company insiders own 12.72% of the company's stock.

Kinder Morgan Trading Up 1.2%

KMI stock opened at $31.57 on Thursday. The company has a market capitalization of $70.32 billion, a PE ratio of 19.49, a P/E/G ratio of 2.17 and a beta of 0.58. Kinder Morgan, Inc. has a 12 month low of $26.24 and a 12 month high of $34.81. The firm's 50-day moving average is $32.02 and its 200 day moving average is $32.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.55.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.37 billion. Kinder Morgan had a net margin of 19.64% and a return on equity of 10.84%. The firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 EPS. On average, research analysts anticipate that Kinder Morgan, Inc. will post 1.57 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.2975 per share. This represents a $1.19 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 2nd. Kinder Morgan's payout ratio is currently 73.46%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KMI. Scotiabank raised their price objective on shares of Kinder Morgan from $32.00 to $34.00 and gave the company a "sector perform" rating in a research report on Tuesday, October 27th. BMO Capital Markets upped their target price on shares of Kinder Morgan from $36.00 to $37.00 and gave the stock an "outperform" rating in a report on Thursday, October 22nd. Melius Research assumed coverage on Kinder Morgan in a research note on Tuesday, September 22nd. They issued a "buy" rating and a $38.00 price target for the company. Mizuho increased their price target on Kinder Morgan from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Thursday, October 22nd. Finally, Argus raised their price target on Kinder Morgan from $36.00 to $38.00 and gave the company a "buy" rating in a report on Tuesday, July 28th. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $37.15.

Kinder Morgan Company Profile

Kinder Morgan, Inc. NYSE: KMI is an energy infrastructure company that transports and stores natural gas, crude oil, refined petroleum products and other energy-related commodities. Its assets include pipelines, terminals and storage facilities serving energy producers, utilities, industrial customers and other markets across the United States and Canada. The company's operations include natural gas transportation and storage, refined-products and crude-oil pipelines, bulk and liquids terminals, and carbon dioxide transportation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.