Mainstay Capital Management LLC ADV Reduces Stock Holdings in Kinder Morgan, Inc. $KMI

Mainstay Capital Management LLC ADV lessened its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 65.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,541 shares of the pipeline company’s stock after selling 18,117 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Kinder Morgan were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Kinder Morgan by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 208,116,318 shares of the pipeline company’s stock worth $5,891,773,000 after purchasing an additional 896,837 shares during the period. Norges Bank acquired a new position in shares of Kinder Morgan in the 2nd quarter valued at about $1,162,802,000. Orbis Allan Gray Ltd lifted its holdings in shares of Kinder Morgan by 3.1% in the 2nd quarter. Orbis Allan Gray Ltd now owns 22,635,179 shares of the pipeline company’s stock valued at $665,474,000 after buying an additional 670,856 shares during the period. Invesco Ltd. boosted its stake in shares of Kinder Morgan by 1.0% in the third quarter. Invesco Ltd. now owns 22,165,368 shares of the pipeline company’s stock worth $627,502,000 after buying an additional 216,039 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Kinder Morgan by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 16,551,759 shares of the pipeline company’s stock worth $468,588,000 after acquiring an additional 205,820 shares during the period. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Kinder Morgan news, VP Anthony B. Ashley sold 8,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $31.95, for a total transaction of $255,600.00. Following the completion of the transaction, the vice president directly owned 100,146 shares in the company, valued at approximately $3,199,664.70. This represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $33.67, for a total transaction of $207,609.22. Following the completion of the sale, the vice president owned 188,872 shares in the company, valued at approximately $6,359,320.24. This trade represents a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,048 shares of company stock worth $1,469,863 in the last 90 days. 12.73% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Freedom Capital upgraded Kinder Morgan from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 28th. Wells Fargo & Company raised their price objective on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Royal Bank Of Canada lifted their target price on shares of Kinder Morgan from $30.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, February 27th. UBS Group reiterated a “buy” rating and issued a $38.00 target price on shares of Kinder Morgan in a research note on Friday, December 12th. Finally, Stifel Nicolaus increased their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the stock a “hold” rating in a report on Friday, March 13th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.46.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $32.63 on Thursday. The company has a market capitalization of $72.59 billion, a P/E ratio of 23.82, a P/E/G ratio of 3.07 and a beta of 0.68. The business’s 50 day moving average is $31.08 and its two-hundred day moving average is $28.50. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a 12-month low of $23.94 and a 12-month high of $34.24.

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

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, February 2nd. Kinder Morgan’s payout ratio is presently 85.40%.

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.