Kornitzer Capital Management Inc. KS Sells 20,414 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Kornitzer Capital Management Inc. KS lowered its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,663,451 shares of the pipeline company's stock after selling 20,414 shares during the quarter. Kinder Morgan accounts for approximately 1.1% of Kornitzer Capital Management Inc. KS's portfolio, making the stock its 16th largest position. Kornitzer Capital Management Inc. KS owned approximately 0.12% of Kinder Morgan worth $58,836,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in shares of Kinder Morgan during the third quarter valued at about $28,000. Pathway Financial Advisers LLC bought a new position in Kinder Morgan in the first quarter worth approximately $30,000. HWG Holdings LP acquired a new stake in Kinder Morgan in the second quarter valued at approximately $30,000. Strategic Financial Concepts LLC bought a new stake in shares of Kinder Morgan during the second quarter valued at approximately $31,000. Finally, HM Payson & Co. raised its position in shares of Kinder Morgan by 401.8% during the third quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company's stock worth $32,000 after purchasing an additional 1,145 shares during the period. Institutional investors and hedge funds own 62.52% of the company's stock.

Kinder Morgan Stock Performance

KMI stock traded up $0.06 during mid-day trading on Thursday, hitting $26.41. The company had a trading volume of 12,877,545 shares, compared to its average volume of 13,877,692. Kinder Morgan, Inc. has a 12 month low of $16.17 and a 12 month high of $26.58. The stock's fifty day moving average price is $23.07 and its two-hundred day moving average price is $21.08. The firm has a market cap of $58.67 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 3.05 and a beta of 0.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46.

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

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.2875 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.35%. Kinder Morgan's payout ratio is 100.88%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KMI shares. Argus upgraded shares of Kinder Morgan from a "hold" rating to a "buy" rating and set a $24.00 price target for the company in a research note on Friday, July 19th. Truist Financial raised their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the company a "hold" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on Kinder Morgan from $20.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday, July 25th. Wells Fargo & Company raised their target price on Kinder Morgan from $22.00 to $27.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Finally, Morgan Stanley set a $26.00 price target on Kinder Morgan in a report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $25.09.

Insider Buying and Selling

In related news, VP Dax Sanders sold 1,729 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the completion of the transaction, the vice president now directly owns 307,409 shares of the company's stock, valued at approximately $6,455,589. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Amy W. Chronis purchased 2,241 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the transaction, the director now directly owns 23,995 shares in the company, valued at approximately $597,235.55. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the sale, the vice president now directly owns 307,409 shares in the company, valued at approximately $6,455,589. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 710,992 shares of company stock valued at $17,619,823. 12.81% of the stock is owned by insiders.

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.