Linscomb Wealth Inc. Trims Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Linscomb Wealth Inc. lessened its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 472,233 shares of the pipeline company’s stock after selling 11,630 shares during the period. Linscomb Wealth Inc.’s holdings in Kinder Morgan were worth $10,432,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KMI. Northwest Investment Counselors LLC purchased a new position in shares of Kinder Morgan during the third quarter valued at approximately $28,000. Pathway Financial Advisers LLC purchased a new stake in shares of Kinder Morgan during the first quarter valued at $30,000. HWG Holdings LP purchased a new stake in shares of Kinder Morgan during the 2nd quarter valued at about $30,000. Planning Capital Management Corp grew its stake in shares of Kinder Morgan by 143.6% in the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 797 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Kinder Morgan during the second quarter valued at approximately $31,000. 62.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Kinder Morgan

In other news, President Thomas A. Martin sold 19,121 shares of the company’s stock in a transaction that occurred 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 sale, the president now directly owns 897,652 shares of the company’s stock, valued at $23,590,294.56. This represents a 2.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy W. Chronis bought 2,241 shares of the stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average price of $24.89 per share, with a total value of $55,778.49. Following the completion of the transaction, the director now directly owns 23,995 shares in the company, valued at approximately $597,235.55. The trade was a 10.30 % increase in their position. The disclosure for this purchase can be found here. 12.64% of the stock is currently owned by insiders.

Kinder Morgan Price Performance

Shares of KMI traded up $0.21 during trading hours on Friday, reaching $26.97. 2,172,220 shares of the stock traded hands, compared to its average volume of 13,826,185. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95. The company’s 50-day moving average price is $23.72 and its two-hundred day moving average price is $21.40. The company has a market cap of $59.92 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 3.69 and a beta of 0.91. Kinder Morgan, Inc. has a 52-week low of $16.47 and a 52-week high of $27.58.

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

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.2875 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.15 annualized dividend and a yield of 4.26%. Kinder Morgan’s payout ratio is 100.88%.

Analyst Upgrades and Downgrades

A number of research firms have commented on KMI. Royal Bank of Canada lifted their target price on shares of Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. Morgan Stanley set a $26.00 target price on Kinder Morgan in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Bank of America assumed coverage on shares of Kinder Morgan in a research note on Thursday, October 17th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, Barclays boosted their target price on shares of Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.09.

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.