Brave Asset Management Inc. trimmed its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI – Get Rating) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,650 shares of the pipeline company’s stock after selling 1,000 shares during the period. Brave Asset Management Inc.’s holdings in Kinder Morgan were worth $631,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Blackstone Inc. grew its holdings in Kinder Morgan by 669.7% during the 1st quarter. Blackstone Inc. now owns 21,427,814 shares of the pipeline company’s stock valued at $405,200,000 after buying an additional 18,643,966 shares during the last quarter. Norges Bank acquired a new stake in Kinder Morgan during the 4th quarter valued at $243,159,000. Ensign Peak Advisors Inc grew its holdings in Kinder Morgan by 199.3% during the 1st quarter. Ensign Peak Advisors Inc now owns 7,942,212 shares of the pipeline company’s stock valued at $150,186,000 after buying an additional 5,288,215 shares during the last quarter. State Street Corp grew its holdings in Kinder Morgan by 2.8% during the 1st quarter. State Street Corp now owns 142,290,641 shares of the pipeline company’s stock valued at $2,690,716,000 after buying an additional 3,910,495 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Kinder Morgan during the 1st quarter valued at $69,969,000. 61.12% of the stock is owned by hedge funds and other institutional investors.
Kinder Morgan Trading Down 4.9 %
Shares of KMI stock traded down $0.85 during mid-day trading on Friday, hitting $16.47. 586,302 shares of the company’s stock were exchanged, compared to its average volume of 16,075,442. Kinder Morgan, Inc. has a fifty-two week low of $15.01 and a fifty-two week high of $20.20. The stock has a 50-day simple moving average of $18.12 and a two-hundred day simple moving average of $18.30. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 0.90. The stock has a market cap of $37.11 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 4.87 and a beta of 0.92.
Kinder Morgan Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 1st were given a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.74%. The ex-dividend date was Friday, July 29th. Kinder Morgan’s dividend payout ratio (DPR) is currently 103.74%.
Insider Buying and Selling
In related news, VP John W. Schlosser sold 3,000 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $18.00, for a total value of $54,000.00. Following the transaction, the vice president now directly owns 28,719 shares of the company’s stock, valued at approximately $516,942. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Kinder Morgan news, VP John W. Schlosser sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $18.00, for a total value of $54,000.00. Following the transaction, the vice president now directly owns 28,719 shares of the company’s stock, valued at $516,942. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John W. Schlosser sold 1,500 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $19.17, for a total value of $28,755.00. Following the completion of the transaction, the vice president now directly owns 27,219 shares in the company, valued at $521,788.23. The disclosure for this sale can be found here. Corporate insiders own 14.22% of the company’s stock.
Analyst Upgrades and Downgrades
KMI has been the topic of a number of analyst reports. Barclays increased their target price on Kinder Morgan from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, August 16th. US Capital Advisors reiterated a “hold” rating on shares of Kinder Morgan in a report on Wednesday, June 1st. UBS Group increased their target price on Kinder Morgan to $25.00 in a report on Friday, July 22nd. Finally, The Goldman Sachs Group upgraded Kinder Morgan from a “sell” rating to a “neutral” rating and set a $19.00 price objective on the stock in a report on Wednesday, September 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.00.
About Kinder Morgan
Kinder Morgan, Inc operates as an energy infrastructure company in North America. The company operates through four segments: Natural Gas Pipelines, Products Pipelines, Terminals, and CO2. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and underground 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 liquefaction and storage facilities.
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