Zurcher Kantonalbank Zurich Cantonalbank Sells 607,514 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 37.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,035,718 shares of the pipeline company’s stock after selling 607,514 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kinder Morgan were worth $20,580,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Arkadios Wealth Advisors increased its stake in shares of Kinder Morgan by 20.1% in the 2nd quarter. Arkadios Wealth Advisors now owns 78,911 shares of the pipeline company’s stock worth $1,568,000 after acquiring an additional 13,209 shares in the last quarter. Burney Co. increased its stake in shares of Kinder Morgan by 11.9% in the 2nd quarter. Burney Co. now owns 18,340 shares of the pipeline company’s stock worth $364,000 after acquiring an additional 1,950 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Kinder Morgan by 0.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 243,092 shares of the pipeline company’s stock worth $4,828,000 after acquiring an additional 890 shares in the last quarter. Whittier Trust Co. increased its stake in Kinder Morgan by 0.9% during the 2nd quarter. Whittier Trust Co. now owns 583,416 shares of the pipeline company’s stock valued at $11,586,000 after purchasing an additional 5,475 shares in the last quarter. Finally, HB Wealth Management LLC increased its stake in Kinder Morgan by 20.0% during the 2nd quarter. HB Wealth Management LLC now owns 48,911 shares of the pipeline company’s stock valued at $972,000 after purchasing an additional 8,147 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Sital K. Mody sold 25,169 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $21.04, for a total transaction of $529,555.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the completion of the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sital K. Mody sold 25,169 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $21.04, for a total transaction of $529,555.76. The disclosure for this sale can be found here. Insiders sold 148,311 shares of company stock valued at $3,121,891 over the last three months. 12.64% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Tudor Pickering upgraded shares of Kinder Morgan to a “strong-buy” rating in a research note on Thursday, May 30th. Scotiabank raised their price target on shares of Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Truist Financial raised their price target on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Stifel Nicolaus raised their price target on shares of Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kinder Morgan has a consensus rating of “Moderate Buy” and an average target price of $22.20.

Kinder Morgan Price Performance

NYSE:KMI remained flat at $21.42 during trading hours on Friday. 4,093,334 shares of the company’s stock traded hands, compared to its average volume of 13,834,916. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. Kinder Morgan, Inc. has a twelve month low of $15.89 and a twelve month high of $21.86. The stock has a market capitalization of $47.54 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 2.92 and a beta of 0.93. The firm has a 50-day moving average of $20.67 and a 200 day moving average of $19.23.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast that Kinder Morgan, Inc. will post 1.2 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 5.37%. The ex-dividend date was Wednesday, July 31st. Kinder Morgan’s payout ratio is 104.55%.

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.