ProShare Advisors LLC Sells 23,672 Shares of Kinder Morgan, Inc. $KMI

ProShare Advisors LLC lessened its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 542,780 shares of the pipeline company’s stock after selling 23,672 shares during the period. ProShare Advisors LLC’s holdings in Kinder Morgan were worth $16,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. increased its position in shares of Kinder Morgan by 4,166.7% during the second quarter. Evolution Wealth Management Inc. now owns 768 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 750 shares during the period. Transamerica Financial Advisors LLC raised its stake in shares of Kinder Morgan by 72.9% in the second quarter. Transamerica Financial Advisors LLC now owns 778 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 328 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in shares of Kinder Morgan in the first quarter valued at $28,000. Bell Investment Advisors Inc boosted its holdings 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 purchasing an additional 500 shares during the period. Finally, Commonwealth Retirement Investments LLC purchased a new position in Kinder Morgan in the second quarter valued at $32,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

KMI has been the topic of a number of recent research reports. Mizuho upped their target price on shares of Kinder Morgan from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Citigroup raised their target price on shares of Kinder Morgan from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. JPMorgan Chase & Co. lifted their price target on shares of Kinder Morgan from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Monday. Morgan Stanley boosted their price target on shares of Kinder Morgan from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 27th. Finally, BMO Capital Markets increased their price objective 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 investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.20.

Insider Buying and Selling

In other news, VP Michael Garthwaite sold 1,550 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $33.65, for a total transaction of $52,157.50. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 12.72% of the stock is owned by corporate insiders.

Kinder Morgan Stock Down 3.5%

Shares of NYSE KMI opened at $32.70 on Tuesday. The company has a market capitalization of $72.85 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.34 and a beta of 0.59. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.67 and a quick ratio of 0.36. The business has a 50-day moving average of $32.10 and a two-hundred day moving average of $32.05. Kinder Morgan, Inc. has a 1 year low of $25.60 and a 1 year high of $34.81.

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

Kinder Morgan Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, November 2nd. Kinder Morgan’s dividend payout ratio is 73.46%.

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.