Sound Shore Management Inc CT Raises Holdings in Kinder Morgan, Inc. $KMI

Sound Shore Management Inc CT lifted its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.1% during the third quarter, Holdings Channel reports. The firm owned 2,670,908 shares of the pipeline company’s stock after acquiring an additional 29,926 shares during the quarter. Kinder Morgan makes up about 2.5% of Sound Shore Management Inc CT’s portfolio, making the stock its 26th largest holding. Sound Shore Management Inc CT’s holdings in Kinder Morgan were worth $75,613,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in Kinder Morgan during the 4th quarter worth $308,000. Sequoia Financial Advisors LLC boosted its stake in shares of Kinder Morgan by 11.4% during the second quarter. Sequoia Financial Advisors LLC now owns 199,905 shares of the pipeline company’s stock worth $5,877,000 after buying an additional 20,501 shares during the period. NorthRock Partners LLC grew its holdings in shares of Kinder Morgan by 59.7% during the second quarter. NorthRock Partners LLC now owns 12,191 shares of the pipeline company’s stock worth $358,000 after buying an additional 4,556 shares during the last quarter. Cornerstone Wealth Group LLC acquired a new position in Kinder Morgan in the 2nd quarter valued at about $251,000. Finally, Moran Wealth Management LLC raised its stake in Kinder Morgan by 2.5% during the 2nd quarter. Moran Wealth Management LLC now owns 160,662 shares of the pipeline company’s stock valued at $4,723,000 after acquiring an additional 3,849 shares during the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley reiterated a “buy” rating on shares of Kinder Morgan in a research note on Friday, January 30th. Scotiabank lifted their price objective on shares of Kinder Morgan from $29.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, January 23rd. Freedom Capital upgraded shares of Kinder Morgan from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 28th. TD Cowen raised their target price 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. Finally, Mizuho dropped their price target on shares of Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.38.

Kinder Morgan Trading Up 1.5%

NYSE:KMI opened at $31.49 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.95. The stock has a fifty day simple moving average of $28.15 and a 200-day simple moving average of $27.47. Kinder Morgan, Inc. has a 52-week low of $23.94 and a 52-week high of $31.67. The company has a market capitalization of $70.05 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 2.56 and a beta of 0.70.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, January 21st. The pipeline company reported $0.39 EPS for the quarter, beating 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 firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. Kinder Morgan’s quarterly revenue was up 13.1% on a year-over-year basis. On average, equities research analysts expect 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 will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $1.17 annualized dividend and a yield of 3.7%. Kinder Morgan’s dividend payout ratio is 85.40%.

Insiders Place Their Bets

In other news, VP John W. Schlosser sold 6,166 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $27.49, for a total transaction of $169,503.34. Following the completion of the sale, the vice president directly owned 201,204 shares in the company, valued at $5,531,097.96. This represents a 2.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO David Patrick Michels sold 20,000 shares of Kinder Morgan stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $30.00, for a total transaction of $600,000.00. Following the transaction, the chief financial officer owned 139,428 shares in the company, valued at $4,182,840. The trade was a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 38,498 shares of company stock valued at $1,126,515 over the last quarter. Company insiders own 12.73% of the company’s stock.

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.