Icon Wealth Advisors LLC Cuts Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Icon Wealth Advisors LLC lessened its stake in Kinder Morgan, Inc. (NYSE:KMI) by 35.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 189,328 shares of the pipeline company’s stock after selling 103,025 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Kinder Morgan were worth $3,472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Kinder Morgan by 52.4% during the 4th quarter. Blue Trust Inc. now owns 5,669 shares of the pipeline company’s stock worth $94,000 after purchasing an additional 1,949 shares during the last quarter. Global Retirement Partners LLC boosted its stake in Kinder Morgan by 17.1% during the 4th quarter. Global Retirement Partners LLC now owns 14,046 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 2,052 shares during the last quarter. Gradient Investments LLC boosted its stake in Kinder Morgan by 57.1% during the 4th quarter. Gradient Investments LLC now owns 2,532 shares of the pipeline company’s stock worth $45,000 after purchasing an additional 920 shares during the last quarter. Mirador Capital Partners LP boosted its stake in Kinder Morgan by 2.6% during the 4th quarter. Mirador Capital Partners LP now owns 262,852 shares of the pipeline company’s stock worth $4,637,000 after purchasing an additional 6,604 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in Kinder Morgan by 8.7% during the 4th quarter. Fifth Third Bancorp now owns 95,875 shares of the pipeline company’s stock worth $1,691,000 after purchasing an additional 7,665 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Up 2.0 %

Shares of KMI stock traded up $0.43 during trading hours on Tuesday, reaching $21.72. 16,311,589 shares of the stock were exchanged, compared to its average volume of 14,214,903. The business’s fifty day moving average is $20.03 and its two-hundred day moving average is $18.67. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. Kinder Morgan, Inc. has a 12-month low of $15.89 and a 12-month high of $21.86. The firm has a market capitalization of $48.21 billion, a P/E ratio of 19.75, a P/E/G ratio of 2.90 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, research analysts expect that Kinder Morgan, Inc. will post 1.23 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date is Wednesday, July 31st. Kinder Morgan’s dividend payout ratio (DPR) is 104.55%.

Analyst Upgrades and Downgrades

KMI has been the topic of several recent research reports. Scotiabank lifted their target price on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Truist Financial boosted their price target on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Friday, July 19th. Finally, Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Kinder Morgan has a consensus rating of “Moderate Buy” and an average target price of $22.10.

Insider Activity at Kinder Morgan

In related news, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the transaction, the vice president now directly owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the transaction, the vice president now directly owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sital K. Mody sold 21,413 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total transaction of $455,026.25. Following the transaction, the vice president now owns 25,169 shares in the company, valued at $534,841.25. The disclosure for this sale can be found here. 12.64% of the stock is currently owned by corporate insiders.

Kinder Morgan Profile

Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and 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.