Kinder Morgan, Inc. $KMI Position Reduced by DNB Asset Management AS

DNB Asset Management AS trimmed its position in Kinder Morgan, Inc. (NYSE:KMI) by 14.8% in the third quarter, HoldingsChannel.com reports. The firm owned 602,088 shares of the pipeline company’s stock after selling 104,589 shares during the quarter. DNB Asset Management AS’s holdings in Kinder Morgan were worth $17,045,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Creative Financial Designs Inc. ADV raised its stake in shares of Kinder Morgan by 14.5% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 2,818 shares of the pipeline company’s stock worth $83,000 after buying an additional 357 shares in the last quarter. Golden State Equity Partners lifted its holdings in Kinder Morgan by 2.2% in the 3rd quarter. Golden State Equity Partners now owns 17,131 shares of the pipeline company’s stock valued at $485,000 after acquiring an additional 368 shares during the last quarter. Fiduciary Financial Group LLC boosted its position in shares of Kinder Morgan by 2.6% during the 3rd quarter. Fiduciary Financial Group LLC now owns 15,439 shares of the pipeline company’s stock valued at $437,000 after purchasing an additional 392 shares in the last quarter. MBM Wealth Consultants LLC grew its stake in shares of Kinder Morgan by 2.8% in the 2nd quarter. MBM Wealth Consultants LLC now owns 14,462 shares of the pipeline company’s stock worth $425,000 after purchasing an additional 393 shares during the last quarter. Finally, L2 Asset Management LLC raised its holdings in shares of Kinder Morgan by 4.8% in the 2nd quarter. L2 Asset Management LLC now owns 8,689 shares of the pipeline company’s stock worth $255,000 after purchasing an additional 401 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Kinder Morgan Price Performance

NYSE KMI opened at $33.23 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.64 and a quick ratio of 0.50. The firm has a market capitalization of $73.93 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 2.72 and a beta of 0.70. The company has a 50 day simple moving average of $29.50 and a 200-day simple moving average of $27.88. Kinder Morgan, Inc. has a 52-week low of $23.94 and a 52-week high of $33.35.

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

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 2nd were issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, February 2nd. Kinder Morgan’s dividend payout ratio (DPR) is currently 85.40%.

Analysts Set New Price Targets

KMI has been the subject of a number of research reports. TD Cowen raised their target price on shares of Kinder Morgan from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Kinder Morgan in a research note on Thursday, January 22nd. UBS Group restated a “buy” rating and issued a $38.00 target price on shares of Kinder Morgan in a report on Friday, December 12th. Stifel Nicolaus upped their target price on Kinder Morgan from $29.00 to $30.00 and gave the company a “hold” rating in a report on Tuesday, November 11th. Finally, Mizuho dropped their price target on Kinder Morgan from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Kinder Morgan currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.54.

Insider Transactions at Kinder Morgan

In other news, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $30.09, for a total transaction of $185,534.94. Following the completion of the sale, the vice president directly owned 195,038 shares of the company’s stock, valued at $5,868,693.42. This trade represents a 3.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Anthony B. Ashley sold 8,000 shares of Kinder Morgan stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $31.95, for a total value of $255,600.00. Following the sale, the vice president owned 100,146 shares of the company’s stock, valued at approximately $3,199,664.70. This represents a 7.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,498 shares of company stock worth $1,382,115 in the last ninety days. Company insiders own 12.73% of the company’s stock.

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.