Sound Income Strategies LLC increased its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 43.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,140 shares of the pipeline company’s stock after acquiring an additional 1,562 shares during the period. Sound Income Strategies LLC’s holdings in Kinder Morgan were worth $89,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. DNB Asset Management AS increased its position in Kinder Morgan by 2.4% during the 2nd quarter. DNB Asset Management AS now owns 444,758 shares of the pipeline company’s stock valued at $7,659,000 after buying an additional 10,304 shares in the last quarter. Cooper Financial Group purchased a new stake in Kinder Morgan during the 2nd quarter valued at about $195,000. Hoertkorn Richard Charles increased its stake in Kinder Morgan by 0.7% during the 2nd quarter. Hoertkorn Richard Charles now owns 555,892 shares of the pipeline company’s stock valued at $9,572,000 after purchasing an additional 3,810 shares in the last quarter. Nordea Investment Management AB raised its holdings in Kinder Morgan by 105.1% in the second quarter. Nordea Investment Management AB now owns 500,999 shares of the pipeline company’s stock worth $8,612,000 after buying an additional 256,779 shares during the last quarter. Finally, Centre Asset Management LLC lifted its stake in shares of Kinder Morgan by 2.2% in the second quarter. Centre Asset Management LLC now owns 461,855 shares of the pipeline company’s stock worth $7,953,000 after buying an additional 10,010 shares in the last quarter. Hedge funds and other institutional investors own 62.33% of the company’s stock.
Kinder Morgan Price Performance
NYSE KMI opened at $17.07 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.38 and a debt-to-equity ratio of 0.90. Kinder Morgan, Inc. has a 12 month low of $16.00 and a 12 month high of $19.35. The company’s 50 day moving average is $17.36 and its two-hundred day moving average is $17.12. The stock has a market cap of $38.02 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 5.19 and a beta of 0.96.
Kinder Morgan Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, July 31st were paid a dividend of $0.2825 per share. This represents a $1.13 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date was Friday, July 28th. Kinder Morgan’s payout ratio is presently 101.80%.
Insider Buying and Selling at Kinder Morgan
In other news, VP Sital K. Mody sold 55,849 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $17.36, for a total transaction of $969,538.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Kinder Morgan news, VP John W. Schlosser sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $18.00, for a total transaction of $135,000.00. Following the sale, the vice president now directly owns 12,219 shares in the company, valued at $219,942. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sital K. Mody sold 55,849 shares of Kinder Morgan stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $17.36, for a total value of $969,538.64. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts have commented on KMI shares. StockNews.com assumed coverage on Kinder Morgan in a report on Thursday, August 17th. They issued a “hold” rating for the company. Stifel Nicolaus upped their target price on shares of Kinder Morgan from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Tuesday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $20.00 price target on shares of Kinder Morgan in a research note on Thursday, July 20th. Barclays dropped their target price on shares of Kinder Morgan from $20.00 to $19.00 in a report on Tuesday, July 18th. Finally, Wolfe Research upgraded shares of Kinder Morgan from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.22.
Kinder Morgan Company Profile
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 gasification, liquefaction, and storage facilities.
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