Evercore Wealth Management LLC lowered its stake in Kinder Morgan Inc (NYSE:KMI) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,791 shares of the pipeline company’s stock after selling 6,796 shares during the period. Evercore Wealth Management LLC’s holdings in Kinder Morgan were worth $971,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Kinder Morgan in the second quarter worth about $110,000. Westbourne Investment Advisors Inc. purchased a new position in shares of Kinder Morgan in the third quarter worth about $117,000. Blue Chip Partners Inc. purchased a new position in shares of Kinder Morgan in the third quarter worth about $128,000. Landaas & Co. WI ADV purchased a new position in shares of Kinder Morgan in the second quarter worth about $133,000. Finally, Capital Advantage Inc. purchased a new position in shares of Kinder Morgan in the third quarter worth about $142,000. Hedge funds and other institutional investors own 61.56% of the company’s stock.
Shares of NYSE:KMI opened at $16.35 on Friday. Kinder Morgan Inc has a 1 year low of $14.69 and a 1 year high of $19.83. The stock has a market cap of $36.31 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.69. The company has a current ratio of 1.05, a quick ratio of 0.98 and a debt-to-equity ratio of 1.00.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Wednesday, October 31st were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, October 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.89%. Kinder Morgan’s dividend payout ratio is presently 121.21%.
Several research firms have recently commented on KMI. Goldman Sachs Group began coverage on Kinder Morgan in a report on Monday, October 8th. They issued a “conviction-buy” rating and a $24.00 price objective on the stock. Credit Suisse Group began coverage on Kinder Morgan in a report on Thursday, October 11th. They issued an “outperform” rating and a $23.00 price objective on the stock. ValuEngine upgraded Kinder Morgan from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 15th. Zacks Investment Research downgraded Kinder Morgan from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Finally, Barclays set a $21.00 price objective on Kinder Morgan and gave the stock a “buy” rating in a report on Friday, October 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $20.94.
In other Kinder Morgan news, insider Richard D. Kinder purchased 500,000 shares of Kinder Morgan stock in a transaction that occurred on Thursday, September 27th. The shares were bought at an average price of $17.55 per share, for a total transaction of $8,775,000.00. Following the acquisition, the insider now directly owns 235,212,353 shares in the company, valued at $4,127,976,795.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 14.16% of the stock is owned by insiders.
Kinder Morgan Profile
Kinder Morgan, Inc operates as an energy infrastructure company in North America. It operates through Natural Gas Pipelines, CO2, Terminals, Products Pipelines, and Kinder Morgan Canada segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline and storage systems; natural gas and crude oil gathering systems, and natural gas processing and treating facilities; natural gas liquids (NGL) fractionation facilities and transportation systems; and liquefied natural gas facilities.
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