Frank Rimerman Advisors LLC Trims Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Frank Rimerman Advisors LLC lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 46.0% in the third quarter, HoldingsChannel reports. The fund owned 47,612 shares of the pipeline company’s stock after selling 40,628 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Kinder Morgan were worth $1,052,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in Kinder Morgan during the third quarter worth approximately $28,000. HWG Holdings LP purchased a new position in shares of Kinder Morgan in the 2nd quarter worth $30,000. ZRC Wealth Management LLC acquired a new position in Kinder Morgan in the third quarter valued at $36,000. Pathway Financial Advisers LLC acquired a new stake in Kinder Morgan during the first quarter worth about $30,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Kinder Morgan in the 1st quarter worth about $31,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KMI shares. Wells Fargo & Company lifted their target price on shares of Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Bank of America assumed coverage on shares of Kinder Morgan in a research note on Thursday, October 17th. They set a “buy” rating and a $27.00 price target on the stock. The Goldman Sachs Group reaffirmed a “conviction-buy” rating on shares of Kinder Morgan in a research report on Friday, October 18th. Barclays increased their price target on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. Finally, Royal Bank of Canada increased their target price on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Kinder Morgan has a consensus rating of “Moderate Buy” and an average price target of $24.91.

Kinder Morgan Price Performance

Shares of NYSE:KMI opened at $24.95 on Monday. The stock has a market cap of $55.43 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 3.06 and a beta of 0.93. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.28. Kinder Morgan, Inc. has a 12 month low of $15.91 and a 12 month high of $25.43. The stock’s 50 day moving average price is $22.50 and its 200 day moving average price is $20.72.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the firm posted $0.25 EPS. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. Equities research analysts anticipate that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.61%. Kinder Morgan’s dividend payout ratio (DPR) is 100.88%.

Insider Transactions at Kinder Morgan

In related news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction that occurred on 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 directly owns 6,809,858 shares in the company, valued at $168,543,985.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the sale, the director now directly owns 6,809,858 shares of the company’s stock, valued at $168,543,985.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 817,040 shares of company stock valued at $19,747,879 in the last quarter. Insiders own 12.64% of the company’s stock.

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.