Mainstay Capital Management LLC ADV Cuts Stock Holdings in Kinder Morgan, Inc. $KMI

Mainstay Capital Management LLC ADV lowered its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 65.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,541 shares of the pipeline company’s stock after selling 18,117 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Kinder Morgan were worth $270,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Kinder Morgan by 12.5% during the third quarter. Allworth Financial LP now owns 128,767 shares of the pipeline company’s stock valued at $3,645,000 after purchasing an additional 14,356 shares in the last quarter. Groupama Asset Managment raised its stake in Kinder Morgan by 112.8% in the third quarter. Groupama Asset Managment now owns 94,715 shares of the pipeline company’s stock worth $2,681,000 after buying an additional 50,199 shares in the last quarter. Strategic Advocates LLC purchased a new stake in Kinder Morgan during the third quarter worth $32,000. Trust Investment Advisors boosted its position in Kinder Morgan by 2.0% during the 3rd quarter. Trust Investment Advisors now owns 38,916 shares of the pipeline company’s stock valued at $1,102,000 after acquiring an additional 746 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Kinder Morgan by 16.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,018,014 shares of the pipeline company’s stock valued at $57,130,000 after acquiring an additional 278,634 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insiders Place Their Bets

In related news, VP Michael P. Garthwaite sold 1,550 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $33.30, for a total value of $51,615.00. Following the completion of the transaction, the vice president owned 46,393 shares in the company, valued at $1,544,886.90. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John W. Schlosser sold 6,166 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $33.67, for a total value of $207,609.22. Following the sale, the vice president owned 188,872 shares in the company, valued at approximately $6,359,320.24. The trade was a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 48,048 shares of company stock valued at $1,469,863. Corporate insiders own 12.73% of the company’s stock.

Kinder Morgan Trading Down 1.9%

Shares of NYSE:KMI opened at $32.63 on Thursday. The business’s 50-day moving average is $31.08 and its 200 day moving average is $28.50. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.64 and a quick ratio of 0.50. Kinder Morgan, Inc. has a 1 year low of $23.94 and a 1 year high of $34.24. The firm has a market capitalization of $72.59 billion, a P/E ratio of 23.82, a P/E/G ratio of 3.07 and a beta of 0.68.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, January 21st. The pipeline company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Kinder Morgan had a return on equity of 9.02% and a net margin of 18.04%.The business had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. On average, research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently declared 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 was Monday, February 2nd. This represents a $1.17 dividend on an annualized basis and a yield of 3.6%. Kinder Morgan’s dividend payout ratio is presently 85.40%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank Of Canada boosted their price target on Kinder Morgan from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, February 27th. Stifel Nicolaus lifted their target price on Kinder Morgan from $30.00 to $33.00 and gave the company a “hold” rating in a research note on Friday, March 13th. Morgan Stanley boosted their target price on shares of Kinder Morgan from $34.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Jefferies Financial Group raised 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. Finally, Wells Fargo & Company lifted their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Kinder Morgan has a consensus rating of “Moderate Buy” and an average target price of $33.46.

About Kinder Morgan

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.