Geode Capital Management LLC Cuts Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Geode Capital Management LLC decreased its holdings in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,507,235 shares of the pipeline company's stock after selling 337,848 shares during the quarter. Geode Capital Management LLC owned about 2.27% of Kinder Morgan worth $1,112,204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in KMI. RFG Advisory LLC raised its stake in Kinder Morgan by 5.2% in the second quarter. RFG Advisory LLC now owns 15,861 shares of the pipeline company's stock worth $315,000 after buying an additional 778 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Kinder Morgan by 3.2% in the second quarter. Sequoia Financial Advisors LLC now owns 42,325 shares of the pipeline company's stock worth $841,000 after purchasing an additional 1,330 shares during the period. M&G Plc bought a new position in Kinder Morgan in the second quarter worth $2,085,000. Wealth Enhancement Advisory Services LLC lifted its position in Kinder Morgan by 4.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 695,607 shares of the pipeline company's stock valued at $13,822,000 after buying an additional 27,071 shares during the period. Finally, ORG Partners LLC boosted its holdings in shares of Kinder Morgan by 454.3% during the 2nd quarter. ORG Partners LLC now owns 25,982 shares of the pipeline company's stock valued at $514,000 after buying an additional 21,295 shares in the last quarter. Institutional investors own 62.52% of the company's stock.

Kinder Morgan Stock Performance

KMI traded up $0.07 during mid-day trading on Wednesday, reaching $26.96. 15,058,020 shares of the company traded hands, compared to its average volume of 13,815,979. The company's fifty day moving average price is $25.95 and its 200-day moving average price is $22.54. The stock has a market capitalization of $59.90 billion, a P/E ratio of 23.70, a P/E/G ratio of 4.00 and a beta of 0.94. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a 52-week low of $16.47 and a 52-week high of $28.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last posted its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.02). The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The firm's revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. On average, sell-side analysts expect that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.2875 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.27%. Kinder Morgan's dividend payout ratio is currently 100.88%.

Insiders Place Their Bets

In other news, Director Amy W. Chronis purchased 2,241 shares of the stock in a transaction on Tuesday, November 5th. The shares were acquired at an average price of $24.89 per share, with a total value of $55,778.49. Following the completion of the acquisition, the director now directly owns 23,995 shares of the company's stock, valued at $597,235.55. This trade represents a 10.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $27.34, for a total transaction of $492,120.00. Following the completion of the sale, the president now directly owns 879,652 shares of the company's stock, valued at approximately $24,049,685.68. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 727,263 shares of company stock worth $18,075,634. Company insiders own 12.81% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on KMI shares. Wells Fargo & Company increased their price target on shares of Kinder Morgan from $22.00 to $27.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Morgan Stanley set a $26.00 price objective on Kinder Morgan in a research report on Friday, October 18th. The Goldman Sachs Group boosted their target price on Kinder Morgan from $26.00 to $29.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Stifel Nicolaus lifted their price target on Kinder Morgan from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Tuesday, August 27th. Finally, UBS Group increased their price objective on shares of Kinder Morgan from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.75.

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.