Pettyjohn Wood & White Inc. Decreases Position in Kinder Morgan, Inc. (NYSE:KMI)

Pettyjohn Wood & White Inc. decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 34.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,077 shares of the pipeline company’s stock after selling 4,339 shares during the period. Pettyjohn Wood & White Inc.’s holdings in Kinder Morgan were worth $230,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC increased its holdings in shares of Kinder Morgan by 927.1% in the first quarter. Sierra Ocean LLC now owns 873 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 788 shares during the period. Hurley Capital LLC acquired a new stake in Kinder Morgan in the fourth quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new stake in Kinder Morgan in the fourth quarter valued at $26,000. Morse Asset Management Inc purchased a new stake in Kinder Morgan during the 4th quarter worth about $27,000. Finally, JNBA Financial Advisors increased its position in Kinder Morgan by 669.2% during the 1st quarter. JNBA Financial Advisors now owns 1,000 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 870 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Buying and Selling

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $28.26, for a total transaction of $508,680.00. Following the completion of the sale, the president directly owned 771,652 shares of the company’s stock, valued at approximately $21,806,885.52. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy W. Chronis bought 2,759 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The shares were bought at an average cost of $27.21 per share, with a total value of $75,072.39. Following the completion of the purchase, the director directly owned 34,764 shares of the company’s stock, valued at $945,928.44. This represents a 8.62% increase in their position. The disclosure for this purchase can be found here. 12.73% of the stock is owned by corporate insiders.

Analyst Ratings Changes

KMI has been the subject of several research analyst reports. Wolfe Research upgraded Kinder Morgan from a “peer perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Friday, July 25th. Wells Fargo & Company increased their target price on Kinder Morgan from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Stifel Nicolaus raised their price target on Kinder Morgan from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, June 3rd. TD Cowen started coverage on Kinder Morgan in a report on Monday, July 7th. They issued a “buy” rating and a $34.00 price target on the stock. Finally, Royal Bank Of Canada raised their price objective on Kinder Morgan from $27.00 to $28.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 29th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.13.

Kinder Morgan Trading Up 0.1%

KMI opened at $28.09 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53. The firm has a market capitalization of $62.42 billion, a PE ratio of 23.02, a P/E/G ratio of 3.53 and a beta of 0.78. Kinder Morgan, Inc. has a fifty-two week low of $19.68 and a fifty-two week high of $31.48. The company’s 50-day moving average is $27.96 and its 200 day moving average is $27.56.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 EPS for the quarter, hitting the consensus estimate of $0.28. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. Kinder Morgan’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm earned $0.26 EPS. As a group, research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Thursday, July 31st will be given a dividend of $0.2925 per share. The ex-dividend date is Thursday, July 31st. This represents a $1.17 dividend on an annualized basis and a yield of 4.2%. Kinder Morgan’s dividend payout ratio is 95.90%.

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.