Sequoia Financial Advisors LLC Purchases 20,501 Shares of Kinder Morgan, Inc. $KMI

Key Points

• Sequoia Financial Advisors LLC increased its stake in Kinder Morgan, Inc. by 11.4% to a total of 199,905 shares, valued at approximately $5.88 million following the purchase of 20,501 shares.
• Insider selling activity included CFO David Patrick Michels selling 40,000 shares, resulting in a 20.06% decrease in his ownership position, as insiders offloaded a total of 134,174 shares worth around $3.73 million in the last 90 days.
• Kinder Morgan reported a 13.2% year-over-year revenue increase to $4.04 billion for the last quarter, while earnings per share met analysts' expectations at $0.28.

Sequoia Financial Advisors LLC grew its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 11.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,905 shares of the pipeline company's stock after acquiring an additional 20,501 shares during the period. Sequoia Financial Advisors LLC's holdings in Kinder Morgan were worth $5,877,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Sierra Ocean LLC boosted its holdings in Kinder Morgan by 927.1% in the 1st quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 788 shares during the period. JNBA Financial Advisors boosted its holdings in Kinder Morgan by 669.2% in the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company's stock valued at $29,000 after purchasing an additional 870 shares during the period. Cranbrook Wealth Management LLC boosted its holdings in Kinder Morgan by 116.1% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,046 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 562 shares during the period. Grove Bank & Trust boosted its holdings in Kinder Morgan by 2,913.5% in the 1st quarter. Grove Bank & Trust now owns 1,115 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 1,078 shares during the period. Finally, Wolff Wiese Magana LLC bought a new stake in Kinder Morgan in the 2nd quarter valued at about $34,000. Institutional investors own 62.52% of the company's stock.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, CFO David Patrick Michels sold 40,000 shares of the company's stock in a transaction that occurred 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 directly owned 159,428 shares in the company, valued at approximately $4,494,275.32. This represents a 20.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sital K. Mody sold 45,549 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $27.96, for a total transaction of $1,273,550.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,174 shares of company stock worth $3,727,678. 12.73% of the stock is currently owned by insiders.

Kinder Morgan Stock Performance

Shares of Kinder Morgan stock opened at $27.33 on Wednesday. Kinder Morgan, Inc. has a fifty-two week low of $23.94 and a fifty-two week high of $31.48. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53. The firm has a market capitalization of $60.72 billion, a P/E ratio of 22.40, a P/E/G ratio of 3.22 and a beta of 0.78. The company's 50 day moving average price is $27.22 and its two-hundred day moving average price is $27.43.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its earnings results on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share 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 firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter last year, the business posted $0.26 earnings per share. The company's quarterly revenue was up 13.2% on a year-over-year basis. On average, equities analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on KMI shares. Cowen started coverage on shares of Kinder Morgan in a report on Monday, July 7th. They issued a "buy" rating for the company. Jefferies Financial Group initiated coverage on shares of Kinder Morgan in a research report on Thursday, October 9th. They issued a "hold" rating and a $30.00 target price for the company. Weiss Ratings restated a "buy (b)" rating on shares of Kinder Morgan in a research report on Wednesday, October 8th. BMO Capital Markets initiated coverage on shares of Kinder Morgan in a research report on Friday, September 19th. They issued an "outperform" rating and a $32.00 target price for the company. Finally, Scotiabank dropped their target price on shares of Kinder Morgan from $28.00 to $27.00 and set a "sector perform" rating for the company in a research report on Friday, September 19th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Kinder Morgan presently has an average rating of "Moderate Buy" and an average price target of $30.88.

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.

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