Redmond Asset Management LLC Sells 66,829 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Redmond Asset Management LLC reduced its stake in Kinder Morgan, Inc. by 53.1% during the 1st quarter, leaving it with 58,951 shares valued at approximately $1.68 million.
• Barclays and Wells Fargo & Company have recently issued positive ratings for Kinder Morgan, with price targets of $32.00 and $34.00, respectively, reflecting a consensus rating of "Moderate Buy".
• Kinder Morgan announced a quarterly dividend of $0.2925 per share, resulting in an annualized yield of 4.4%, with a payout ratio of 95.90%.

Redmond Asset Management LLC lessened its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 53.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,951 shares of the pipeline company's stock after selling 66,829 shares during the quarter. Redmond Asset Management LLC's holdings in Kinder Morgan were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Brighton Jones LLC bought a new stake in shares of Kinder Morgan in the 4th quarter worth about $308,000. Federated Hermes Inc. boosted its position in Kinder Morgan by 8.9% in the 4th quarter. Federated Hermes Inc. now owns 19,054 shares of the pipeline company's stock valued at $522,000 after buying an additional 1,553 shares during the period. Jump Financial LLC purchased a new stake in Kinder Morgan in the 4th quarter valued at about $4,568,000. Gamco Investors INC. ET AL purchased a new stake in Kinder Morgan in the 4th quarter valued at about $217,000. Finally, NewEdge Advisors LLC lifted its position in shares of Kinder Morgan by 3.2% in the 4th quarter. NewEdge Advisors LLC now owns 303,401 shares of the pipeline company's stock worth $8,313,000 after purchasing an additional 9,475 shares during the period. Hedge funds and other institutional investors own 62.52% of the company's stock.

Analyst Ratings Changes

KMI has been the subject of a number of analyst reports. Morgan Stanley set a $34.00 target price on shares of Kinder Morgan in a research report on Monday, July 7th. Wolfe Research upgraded shares of Kinder Morgan from a "peer perform" rating to an "outperform" rating and set a $31.00 price target on the stock in a research note on Friday, July 25th. TD Cowen assumed coverage on shares of Kinder Morgan in a research note on Monday, July 7th. They issued a "buy" rating and a $34.00 price objective on the stock. Barclays restated an "overweight" rating and set a $32.00 price target (up previously from $31.00) on shares of Kinder Morgan in a research report on Monday, June 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Kinder Morgan has a consensus rating of "Moderate Buy" and an average price target of $31.20.

Insider Activity

In other news, Director Amy W. Chronis purchased 2,759 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were acquired at an average cost of $27.21 per share, for a total transaction of $75,072.39. Following the transaction, the director directly owned 34,764 shares of the company's stock, valued at approximately $945,928.44. The trade was a 8.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Dax Sanders sold 30,127 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $27.05, for a total value of $814,935.35. Following the sale, the executive vice president directly owned 292,000 shares of the company's stock, valued at approximately $7,898,600. The trade was a 9.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 139,842 shares of company stock worth $3,896,180. Corporate insiders own 12.73% of the company's stock.

Kinder Morgan Price Performance

Shares of NYSE:KMI traded down $0.16 during trading hours on Friday, hitting $26.69. 13,657,267 shares of the company's stock traded hands, compared to its average volume of 17,228,220. Kinder Morgan, Inc. has a 52 week low of $20.56 and a 52 week high of $31.48. 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 company's fifty day simple moving average is $27.74 and its two-hundred day simple moving average is $27.37. The company has a market cap of $59.31 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 3.36 and a beta of 0.78.

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, meeting analysts' consensus estimates of $0.28. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the firm posted $0.26 earnings per share. The company's quarterly revenue was up 13.2% compared to the same quarter last year. As a group, equities analysts anticipate that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Thursday, July 31st were issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Thursday, July 31st. 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.