Hennessy Advisors Inc. Sells 28,300 Shares of Kinder Morgan, Inc. $KMI

Hennessy Advisors Inc. reduced its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 883,851 shares of the pipeline company’s stock after selling 28,300 shares during the period. Kinder Morgan makes up approximately 1.0% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 27th biggest holding. Hennessy Advisors Inc.’s holdings in Kinder Morgan were worth $26,648,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Evolution Wealth Management Inc. increased its holdings in shares of Kinder Morgan by 4,166.7% in the second quarter. Evolution Wealth Management Inc. now owns 768 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 750 shares during the period. Transamerica Financial Advisors LLC lifted its holdings in shares of Kinder Morgan by 72.9% during the second quarter. Transamerica Financial Advisors LLC now owns 778 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 328 shares during the period. Frazier Financial Advisors LLC acquired a new stake in shares of Kinder Morgan during the first quarter worth about $28,000. Bell Investment Advisors Inc boosted its position in Kinder Morgan by 112.1% in the second quarter. Bell Investment Advisors Inc now owns 946 shares of the pipeline company’s stock valued at $30,000 after buying an additional 500 shares during the last quarter. Finally, Robinswood Financial LLC purchased a new stake in Kinder Morgan in the first quarter valued at approximately $34,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Michael Garthwaite sold 1,550 shares of the business’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $33.65, for a total value of $52,157.50. Following the sale, the vice president owned 47,313 shares in the company, valued at approximately $1,592,082.45. The trade was a 3.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 12.72% of the company’s stock.

Kinder Morgan Stock Up 0.1%

Shares of KMI opened at $33.90 on Monday. The stock has a 50 day moving average price of $32.06 and a 200 day moving average price of $32.03. Kinder Morgan, Inc. has a one year low of $25.60 and a one year high of $34.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.55 and a current ratio of 0.67. The stock has a market capitalization of $75.52 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.36 and a beta of 0.59.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 21st. The pipeline company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.33 by $0.02. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.37 billion. Kinder Morgan had a return on equity of 10.84% and a net margin of 19.64%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.57 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a $0.2975 dividend. This represents a $1.19 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, November 2nd. Kinder Morgan’s dividend payout ratio (DPR) is 73.46%.

Analyst Upgrades and Downgrades

KMI has been the subject of a number of recent research reports. Argus raised their price target on shares of Kinder Morgan from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Freedom Broker raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and upped their price objective for the company from $34.00 to $39.00 in a report on Thursday, October 22nd. Citigroup increased their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Melius Research started coverage on shares of Kinder Morgan in a report on Tuesday, September 22nd. They set a “buy” rating and a $38.00 target price for the company. Finally, BMO Capital Markets boosted their target price on shares of Kinder Morgan from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. Twelve research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Kinder Morgan has an average rating of “Moderate Buy” and a consensus price target of $37.15.

Kinder Morgan Profile

Kinder Morgan, Inc (NYSE: KMI) is an energy infrastructure company that owns and operates pipelines, terminals, and other transportation and storage facilities. Its systems primarily support the movement, processing, and storage of natural gas, crude oil, refined petroleum products, and other energy commodities.

The company’s natural gas business transports and stores natural gas for utilities, power generators, industrial customers, and other energy companies. Kinder Morgan also operates refined products and crude oil pipelines, liquids terminals, and carbon dioxide infrastructure.