Nkcfo LLC Lowers Position in Kinder Morgan, Inc. (NYSE:KMI)

Key Points

• Nkcfo LLC reduced its stake in Kinder Morgan by 69.8% in the first quarter, owning 143,400 shares after selling 331,400 shares, now making up about 1.9% of its total holdings.
• Kinder Morgan reported a $0.28 earnings per share for the quarter, aligning with consensus estimates, and had a revenue of $4.04 billion, surpassing analyst expectations.
• The company announced a quarterly dividend of $0.2925 to be paid on August 15th, with an annualized basis dividend yield of 4.27% and a payout ratio of 95.90%.

Nkcfo LLC lessened its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 69.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 143,400 shares of the pipeline company's stock after selling 331,400 shares during the period. Kinder Morgan accounts for 1.9% of Nkcfo LLC's investment portfolio, making the stock its 16th biggest position. Nkcfo LLC's holdings in Kinder Morgan were worth $4,091,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sierra Ocean LLC lifted its position in shares of Kinder Morgan by 927.1% in the 1st quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock worth $25,000 after purchasing an additional 788 shares during the period. Hurley Capital LLC purchased a new position in Kinder Morgan during the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC purchased a new position in Kinder Morgan during the 4th quarter valued at about $26,000. Morse Asset Management Inc purchased a new position in Kinder Morgan during the 4th quarter valued at about $27,000. Finally, JNBA Financial Advisors lifted its position in Kinder Morgan by 669.2% during the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after acquiring an additional 870 shares during the period. Institutional investors own 62.52% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on KMI. Barclays reissued an "overweight" rating and set a $32.00 price target (up from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Royal Bank Of Canada raised their price objective on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 29th. Morgan Stanley set a $34.00 price objective on shares of Kinder Morgan in a research note on Monday, July 7th. Wells Fargo & Company raised their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, TD Cowen initiated coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They set a "buy" rating and a $34.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.13.

Insider Buying and Selling

In other news, Director Amy W. Chronis purchased 2,759 shares of the company's stock in a transaction on Monday, July 28th. The stock was acquired at an average cost 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 in the company, valued at $945,928.44. This trade represents a 8.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $28.26, for a total transaction of $508,680.00. Following the completion of the transaction, the president owned 771,652 shares of the company's stock, valued at approximately $21,806,885.52. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.73% of the company's stock.

Kinder Morgan Stock Performance

NYSE KMI traded up $0.29 during trading hours on Thursday, hitting $28.01. 5,856,484 shares of the company's stock traded hands, compared to its average volume of 14,368,146. The business's fifty day moving average price is $27.94 and its two-hundred day moving average price is $27.57. 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 firm has a market capitalization of $62.23 billion, a P/E ratio of 22.95, a P/E/G ratio of 3.53 and a beta of 0.75. Kinder Morgan, Inc. has a 52 week low of $19.68 and a 52 week high of $31.48.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its earnings results 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 during the quarter, compared to analyst estimates of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The firm's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 earnings per share. Equities research analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.18%. Kinder Morgan's payout ratio is currently 95.90%.

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.