Cornerstone Planning Group LLC Sells 2,523 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Cornerstone Planning Group LLC decreased its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 61.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,612 shares of the pipeline company’s stock after selling 2,523 shares during the period. Cornerstone Planning Group LLC’s holdings in Kinder Morgan were worth $36,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in KMI. Northwest Investment Counselors LLC acquired a new stake in shares of Kinder Morgan in the third quarter valued at about $28,000. HM Payson & Co. raised its stake in Kinder Morgan by 401.8% during the 3rd quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 1,145 shares during the last quarter. HWG Holdings LP acquired a new stake in Kinder Morgan in the 2nd quarter worth $30,000. ZRC Wealth Management LLC acquired a new position in shares of Kinder Morgan during the third quarter valued at about $36,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Kinder Morgan during the first quarter worth about $30,000. 62.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KMI. The Goldman Sachs Group restated a “conviction-buy” rating on shares of Kinder Morgan in a research report on Friday, October 18th. Morgan Stanley set a $26.00 target price on shares of Kinder Morgan in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Stifel Nicolaus increased their price objective on Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Finally, Scotiabank raised their price objective on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.09.

Insider Activity

In other news, Director C Park Shaper sold 690,142 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 6,809,858 shares in the company, valued at $168,543,985.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kinder Morgan news, President Thomas A. Martin sold 19,121 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the transaction, the president now directly owns 897,652 shares in the company, valued at $23,590,294.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $17,081,014.50. Following the completion of the transaction, the director now owns 6,809,858 shares in the company, valued at approximately $168,543,985.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.81% of the stock is owned by corporate insiders.

Kinder Morgan Stock Up 0.2 %

Shares of Kinder Morgan stock opened at $27.23 on Wednesday. The business has a fifty day simple moving average of $23.51 and a 200 day simple moving average of $21.32. The stock has a market cap of $60.50 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 3.75 and a beta of 0.91. 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 12 month low of $16.47 and a 12 month high of $27.58.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data 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 net margin of 16.76% and a return on equity of 7.87%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the company earned $0.25 EPS. Kinder Morgan’s quarterly revenue was down 5.3% on a year-over-year basis. Research analysts predict that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date is Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is currently 100.88%.

Kinder Morgan 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.