Bank of New York Mellon Corp Decreases Stake in Kinder Morgan, Inc. $KMI

Bank of New York Mellon Corp decreased its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 1.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,739,667 shares of the pipeline company’s stock after selling 177,534 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kinder Morgan were worth $360,660,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in KMI. Creative Financial Designs Inc. ADV raised its position in Kinder Morgan by 14.5% in the second quarter. Creative Financial Designs Inc. ADV now owns 2,818 shares of the pipeline company’s stock valued at $83,000 after purchasing an additional 357 shares during the period. L.M. Kohn & Company grew its stake in shares of Kinder Morgan by 3.4% in the second quarter. L.M. Kohn & Company now owns 10,947 shares of the pipeline company’s stock valued at $322,000 after buying an additional 360 shares in the last quarter. Golden State Equity Partners raised its holdings in shares of Kinder Morgan by 2.2% during the 3rd quarter. Golden State Equity Partners now owns 17,131 shares of the pipeline company’s stock valued at $485,000 after buying an additional 368 shares during the period. Relyea Zuckerberg Hanson LLC lifted its position in Kinder Morgan by 4.2% during the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 9,377 shares of the pipeline company’s stock worth $276,000 after acquiring an additional 374 shares in the last quarter. Finally, Fiduciary Financial Group LLC boosted its holdings in 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 during the period. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Price Performance

KMI opened at $30.24 on Friday. The company has a market capitalization of $67.27 billion, a P/E ratio of 22.07, a PEG ratio of 2.44 and a beta of 0.69. The company has a 50-day moving average of $27.50 and a 200-day moving average of $27.28. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.49 and a current ratio of 0.64. Kinder Morgan, Inc. has a 1-year low of $23.94 and a 1-year high of $30.57.

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

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 2nd will be issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, February 2nd. Kinder Morgan’s payout ratio is 85.40%.

Insider Activity at Kinder Morgan

In related news, VP John W. Schlosser sold 6,166 shares of the firm’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 transaction, the vice president directly owned 201,204 shares in the company, valued at $5,531,097.96. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David Patrick Michels sold 20,000 shares of Kinder Morgan stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $30.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer directly owned 139,428 shares of the company’s stock, valued at approximately $4,182,840. This represents a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 38,498 shares of company stock worth $1,107,462. Corporate insiders own 12.73% of the company’s stock.

Wall Street Analyst Weigh In

KMI has been the topic of a number of analyst reports. 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 note on Friday, January 23rd. UBS Group reissued a “buy” rating and issued a $38.00 price objective on shares of Kinder Morgan in a research report on Friday, December 12th. Mizuho lowered their target price on Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Stifel Nicolaus boosted their price target on Kinder Morgan from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Tuesday, November 11th. Finally, Royal Bank Of Canada raised their price objective on Kinder Morgan from $28.00 to $30.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.38.

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.