Wealth Enhancement Advisory Services LLC Sells 39,615 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 655,992 shares of the pipeline company's stock after selling 39,615 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Kinder Morgan were worth $14,491,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. PFG Investments LLC grew its stake in Kinder Morgan by 7.1% in the third quarter. PFG Investments LLC now owns 45,419 shares of the pipeline company's stock worth $1,003,000 after purchasing an additional 3,002 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Kinder Morgan by 3.1% in the third quarter. Arkadios Wealth Advisors now owns 81,357 shares of the pipeline company's stock worth $1,797,000 after purchasing an additional 2,446 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Kinder Morgan by 30.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 121,106 shares of the pipeline company's stock worth $2,639,000 after purchasing an additional 28,278 shares in the last quarter. Parcion Private Wealth LLC acquired a new position in Kinder Morgan in the third quarter worth about $533,000. Finally, Lyell Wealth Management LP acquired a new position in Kinder Morgan in the third quarter worth about $203,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KMI has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on Kinder Morgan from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, July 25th. Scotiabank lifted their target price on Kinder Morgan from $19.00 to $21.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 17th. Argus upgraded Kinder Morgan from a "hold" rating to a "buy" rating and set a $24.00 target price for the company in a research note on Friday, July 19th. Royal Bank of Canada lifted their target price on Kinder Morgan from $24.00 to $26.00 and gave the company a "sector perform" rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group restated a "conviction-buy" rating on shares of Kinder Morgan in a research note on Friday, October 18th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $24.91.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, Director C Park Shaper sold 690,142 shares of the company's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $24.75, for a total value of $17,081,014.50. Following the transaction, the director now owns 6,809,858 shares of the company's stock, valued at approximately $168,543,985.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Dax Sanders sold 1,729 shares of the company's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the transaction, the vice president now owns 307,409 shares in the company, valued at $6,455,589. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Park Shaper sold 690,142 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the completion of the transaction, the director now owns 6,809,858 shares in the company, valued at $168,543,985.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 817,040 shares of company stock valued at $19,747,879. Corporate insiders own 12.64% of the company's stock.

Kinder Morgan Price Performance

NYSE:KMI traded down $0.18 during midday trading on Tuesday, hitting $24.62. 10,088,868 shares of the stock were exchanged, compared to its average volume of 13,802,312. Kinder Morgan, Inc. has a one year low of $15.91 and a one year high of $25.43. The company has a market capitalization of $54.64 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 3.06 and a beta of 0.93. The business has a 50-day moving average price of $22.57 and a two-hundred day moving average price of $20.77. The company has a current ratio of 0.46, a quick ratio of 0.28 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced its earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the firm earned $0.25 EPS. Kinder Morgan's revenue for the quarter was down 5.3% on a year-over-year basis. Sell-side analysts predict that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.2875 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.67%. Kinder Morgan's dividend payout ratio is currently 104.55%.

About Kinder Morgan

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.