Cornerstone Planning Group LLC Sells 2,523 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Cornerstone Planning Group LLC cut its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 61.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,612 shares of the pipeline company’s stock after selling 2,523 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Kinder Morgan were worth $36,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Kinder Morgan by 15.8% in the 1st quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock valued at $3,665,963,000 after buying an additional 27,254,172 shares during the period. Castle Hook Partners LP boosted its holdings in shares of Kinder Morgan by 108.2% in the 1st quarter. Castle Hook Partners LP now owns 7,799,826 shares of the pipeline company’s stock valued at $143,049,000 after purchasing an additional 4,053,793 shares in the last quarter. Duquesne Family Office LLC increased its stake in shares of Kinder Morgan by 74.0% in the 2nd quarter. Duquesne Family Office LLC now owns 6,753,165 shares of the pipeline company’s stock valued at $134,185,000 after purchasing an additional 2,872,665 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Kinder Morgan by 23.6% during the 1st quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock worth $204,319,000 after buying an additional 2,125,648 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Kinder Morgan by 1,849.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,164,637 shares of the pipeline company’s stock worth $47,817,000 after buying an additional 2,053,612 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kinder Morgan

In related news, President Thomas A. Martin sold 19,121 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total transaction of $502,499.88. Following the completion of the sale, the president now owns 897,652 shares in the company, valued at approximately $23,590,294.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Kinder Morgan news, Director C Park Shaper sold 690,142 shares of Kinder Morgan stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the sale, the director now owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 19,121 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the transaction, the president now owns 897,652 shares in the company, valued at approximately $23,590,294.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.81% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KMI shares. Bank of America assumed coverage on shares of Kinder Morgan in a report on Thursday, October 17th. They issued a “buy” rating and a $27.00 target price for the company. The Goldman Sachs Group reiterated a “conviction-buy” rating on shares of Kinder Morgan in a research report on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Truist Financial raised their price objective on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Finally, Scotiabank upped their price target on shares of Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.09.

Kinder Morgan Price Performance

Kinder Morgan stock opened at $27.23 on Wednesday. The stock’s 50 day moving average price is $23.51 and its two-hundred day moving average price is $21.32. The stock has a market capitalization of $60.50 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 3.75 and a beta of 0.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. Kinder Morgan, Inc. has a 52-week low of $16.47 and a 52-week high of $27.58.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. On average, equities analysts predict that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend is Thursday, October 31st. Kinder Morgan’s payout ratio is 100.88%.

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.