Kinder Morgan, Inc. $KMI Shares Sold by DNB Asset Management AS

DNB Asset Management AS trimmed its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 14.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 602,088 shares of the pipeline company’s stock after selling 104,589 shares during the quarter. DNB Asset Management AS’s holdings in Kinder Morgan were worth $17,045,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Creative Financial Designs Inc. ADV lifted its position in shares of Kinder Morgan by 14.5% during the second quarter. Creative Financial Designs Inc. ADV now owns 2,818 shares of the pipeline company’s stock worth $83,000 after purchasing an additional 357 shares during the last quarter. Golden State Equity Partners lifted its holdings in Kinder Morgan by 2.2% during the 3rd quarter. Golden State Equity Partners now owns 17,131 shares of the pipeline company’s stock worth $485,000 after buying an additional 368 shares during the last quarter. Fiduciary Financial Group LLC grew its position in shares of Kinder Morgan by 2.6% in the 3rd quarter. Fiduciary Financial Group LLC now owns 15,439 shares of the pipeline company’s stock worth $437,000 after acquiring an additional 392 shares in the last quarter. MBM Wealth Consultants LLC increased its holdings in shares of Kinder Morgan by 2.8% in the 2nd quarter. MBM Wealth Consultants LLC now owns 14,462 shares of the pipeline company’s stock valued at $425,000 after acquiring an additional 393 shares during the last quarter. Finally, L2 Asset Management LLC raised its position in shares of Kinder Morgan by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 8,689 shares of the pipeline company’s stock valued at $255,000 after acquiring an additional 401 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on KMI. UBS Group reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Kinder Morgan in a report on Friday, December 12th. Jefferies Financial Group lifted their price target on shares of Kinder Morgan from $29.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, January 22nd. TD Cowen increased their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Royal Bank Of Canada raised their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Kinder Morgan in a report on Thursday, January 22nd. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $32.54.

Insiders Place Their Bets

In related news, CFO David Patrick Michels sold 20,000 shares of Kinder Morgan stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $30.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer directly owned 139,428 shares in the company, valued at $4,182,840. The trade was a 12.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Anthony B. Ashley sold 8,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $31.95, for a total transaction of $255,600.00. Following the completion of the sale, the vice president directly owned 100,146 shares of the company’s stock, valued at $3,199,664.70. The trade was a 7.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 46,498 shares of company stock worth $1,382,115. Insiders own 12.73% of the company’s stock.

Kinder Morgan Trading Up 0.5%

Kinder Morgan stock opened at $33.23 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $29.50 and a two-hundred day moving average price of $27.88. The firm has a market capitalization of $73.93 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.72 and a beta of 0.70. Kinder Morgan, Inc. has a 52-week low of $23.94 and a 52-week high of $33.35.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, January 21st. The pipeline company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.33 billion. Kinder Morgan had a net margin of 18.04% and a return on equity of 9.02%. Kinder Morgan’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. Sell-side analysts expect that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were paid a dividend of $0.2925 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $1.17 annualized dividend and a yield of 3.5%. Kinder Morgan’s payout ratio is presently 85.40%.

Kinder Morgan Company Profile

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.