Bar Harbor Wealth Management Reduces Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Bar Harbor Wealth Management trimmed its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 158,857 shares of the pipeline company’s stock after selling 4,358 shares during the quarter. Bar Harbor Wealth Management’s holdings in Kinder Morgan were worth $4,532,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new stake in shares of Kinder Morgan in the 4th quarter worth approximately $25,000. Hurley Capital LLC purchased a new stake in Kinder Morgan during the fourth quarter valued at $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Kinder Morgan during the 4th quarter valued at about $26,000. Morse Asset Management Inc bought a new position in Kinder Morgan in the fourth quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC purchased a new position in Kinder Morgan during the fourth quarter valued at $29,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Kinder Morgan in a report on Monday, May 5th. Stifel Nicolaus upped their price objective on Kinder Morgan from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, June 3rd. Scotiabank increased their price target on shares of Kinder Morgan from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Thursday, June 5th. Barclays raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective for the company in a research note on Monday, March 3rd. Finally, Royal Bank of Canada increased their price target on Kinder Morgan from $27.00 to $28.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Kinder Morgan has an average rating of “Moderate Buy” and a consensus price target of $30.21.

Kinder Morgan Price Performance

Shares of KMI stock opened at $27.63 on Friday. The company has a market cap of $61.40 billion, a P/E ratio of 23.62, a PEG ratio of 3.08 and a beta of 0.74. The stock’s 50-day moving average is $27.23 and its 200 day moving average is $27.44. Kinder Morgan, Inc. has a 1-year low of $19.47 and a 1-year high of $31.48. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.49 and a quick ratio of 0.39.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.02 billion. Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. Research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were issued a $0.2925 dividend. The ex-dividend date of this dividend was Wednesday, April 30th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.29. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.23%. Kinder Morgan’s dividend payout ratio is currently 100.86%.

Insider Buying and Selling

In related news, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $28.75, for a total transaction of $517,500.00. Following the completion of the transaction, the president now directly owns 807,652 shares in the company, valued at approximately $23,219,995. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 54,000 shares of company stock worth $1,522,440. 12.73% of the stock is owned by company insiders.

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.