Oppenheimer & Co. Inc. Sells 31,655 Shares of Kinder Morgan, Inc. $KMI

Oppenheimer & Co. Inc. cut its position in Kinder Morgan, Inc. (NYSE:KMI) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 396,724 shares of the pipeline company’s stock after selling 31,655 shares during the period. Oppenheimer & Co. Inc.’s holdings in Kinder Morgan were worth $11,231,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Linden Thomas Advisory Services LLC raised its stake in shares of Kinder Morgan by 1.0% in the third quarter. Linden Thomas Advisory Services LLC now owns 100,240 shares of the pipeline company’s stock valued at $2,838,000 after acquiring an additional 1,027 shares during the last quarter. REAP Financial Group LLC increased its holdings in Kinder Morgan by 16.7% during the 3rd quarter. REAP Financial Group LLC now owns 3,879 shares of the pipeline company’s stock valued at $110,000 after purchasing an additional 555 shares in the last quarter. Meixler Investment Management Ltd. bought a new position in Kinder Morgan in the 3rd quarter valued at $1,882,000. Smartleaf Asset Management LLC boosted its stake in Kinder Morgan by 69.3% in the third quarter. Smartleaf Asset Management LLC now owns 25,875 shares of the pipeline company’s stock worth $734,000 after purchasing an additional 10,593 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in shares of Kinder Morgan by 3.7% during the third quarter. Alps Advisors Inc. now owns 1,777,236 shares of the pipeline company’s stock worth $50,314,000 after purchasing an additional 62,800 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Stock Up 1.7%

Shares of NYSE:KMI opened at $31.03 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.64 and a quick ratio of 0.49. The stock has a market cap of $69.03 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 2.51 and a beta of 0.70. The company has a 50 day moving average of $27.98 and a 200-day moving average of $27.41. Kinder Morgan, Inc. has a one year low of $23.94 and a one year high of $31.12.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, January 21st. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Kinder Morgan had a net margin of 18.04% and a return on equity of 9.02%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. On average, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be issued a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, February 2nd. Kinder Morgan’s dividend payout ratio is currently 85.40%.

Insiders Place Their Bets

In related news, CFO David Patrick Michels sold 20,000 shares of Kinder Morgan stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $30.00, for a total transaction of $600,000.00. Following the transaction, the chief financial officer owned 139,428 shares of the company’s stock, valued at $4,182,840. This trade represents a 12.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John W. Schlosser sold 6,166 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $27.49, for a total transaction of $169,503.34. Following the transaction, the vice president owned 201,204 shares of the company’s stock, valued at approximately $5,531,097.96. This represents a 2.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 38,498 shares of company stock worth $1,126,515. Insiders own 12.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TD Cowen lifted their price target on Kinder Morgan from $34.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Mizuho dropped their target price on shares of Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Freedom Capital upgraded shares of Kinder Morgan from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 28th. Stifel Nicolaus raised their price target on shares of Kinder Morgan from $29.00 to $30.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. Finally, UBS Group restated a “buy” rating and issued a $38.00 price objective on shares of Kinder Morgan in a research report on Friday, December 12th. Nine analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.38.

About Kinder Morgan

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.