Kornitzer Capital Management Inc. KS Sells 20,414 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Kornitzer Capital Management Inc. KS cut its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,663,451 shares of the pipeline company’s stock after selling 20,414 shares during the quarter. Kinder Morgan accounts for about 1.1% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 16th largest position. Kornitzer Capital Management Inc. KS’s holdings in Kinder Morgan were worth $58,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global Retirement Partners LLC boosted its position in Kinder Morgan by 3.5% during the 3rd quarter. Global Retirement Partners LLC now owns 22,813 shares of the pipeline company’s stock worth $504,000 after buying an additional 776 shares during the period. Czech National Bank boosted its position in Kinder Morgan by 6.9% during the 3rd quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock worth $8,689,000 after buying an additional 25,406 shares during the period. Valley National Advisers Inc. boosted its position in Kinder Morgan by 1,512.7% during the 3rd quarter. Valley National Advisers Inc. now owns 88,583 shares of the pipeline company’s stock worth $1,956,000 after buying an additional 83,090 shares during the period. LSV Asset Management acquired a new position in shares of Kinder Morgan in the 1st quarter worth approximately $8,818,000. Finally, Duality Advisers LP lifted its position in shares of Kinder Morgan by 42.7% in the 1st quarter. Duality Advisers LP now owns 317,425 shares of the pipeline company’s stock worth $5,822,000 after purchasing an additional 94,984 shares during the period. 62.52% of the stock is owned by institutional investors.

Kinder Morgan Stock Down 0.3 %

Shares of NYSE KMI traded down $0.09 during trading on Thursday, hitting $26.26. The stock had a trading volume of 1,693,475 shares, compared to its average volume of 13,824,153. Kinder Morgan, Inc. has a 12 month low of $16.17 and a 12 month high of $26.58. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.46 and a quick ratio of 0.35. The company has a market capitalization of $58.34 billion, a PE ratio of 23.11, a PEG ratio of 3.05 and a beta of 0.91. The firm has a fifty day moving average of $23.07 and a two-hundred day moving average of $21.08.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. Kinder Morgan’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS. As a group, equities research analysts forecast that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 annualized dividend and a yield of 4.38%. Kinder Morgan’s payout ratio is currently 100.88%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KMI. UBS Group boosted their price target on shares of Kinder Morgan from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Barclays boosted their target price on shares of Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday. Wells Fargo & Company boosted their target price on shares of Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Argus upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Friday, July 19th. Finally, Royal Bank of Canada boosted their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.09.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, Director C Park Shaper sold 690,142 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the sale, the director now directly owns 6,809,858 shares of the company’s stock, valued at $168,543,985.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the transaction, the vice president now directly owns 307,409 shares in the company, valued at approximately $6,455,589. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director C Park Shaper sold 690,142 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the transaction, the director now owns 6,809,858 shares in the company, valued at approximately $168,543,985.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.81% of the company’s stock.

Kinder Morgan Company 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.