Acorn Wealth Advisors LLC Has $450,000 Position in Kinder Morgan, Inc. (NYSE:KMI)

Acorn Wealth Advisors LLC cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 10.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,370 shares of the pipeline company’s stock after selling 2,365 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Kinder Morgan were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of KMI. Lazard Asset Management LLC raised its holdings in shares of Kinder Morgan by 9.2% during the 1st quarter. Lazard Asset Management LLC now owns 26,871 shares of the pipeline company’s stock valued at $492,000 after purchasing an additional 2,274 shares in the last quarter. SVB Wealth LLC lifted its position in shares of Kinder Morgan by 1.5% in the first quarter. SVB Wealth LLC now owns 122,046 shares of the pipeline company’s stock worth $2,238,000 after buying an additional 1,806 shares during the last quarter. Waverly Advisors LLC bought a new stake in shares of Kinder Morgan during the 1st quarter worth about $1,265,000. B. Riley Wealth Advisors Inc. raised its stake in shares of Kinder Morgan by 2.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 191,025 shares of the pipeline company’s stock valued at $3,503,000 after acquiring an additional 4,829 shares in the last quarter. Finally, Redwood Investment Management LLC lifted its holdings in Kinder Morgan by 1.1% in the 1st quarter. Redwood Investment Management LLC now owns 122,362 shares of the pipeline company’s stock worth $2,244,000 after purchasing an additional 1,368 shares during the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kinder Morgan

In related news, Director Amy W. Chronis purchased 2,241 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the transaction, the director now directly owns 23,995 shares in the company, valued at approximately $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Thomas A. Martin sold 19,121 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total transaction of $502,499.88. Following the sale, the president now directly owns 897,652 shares in the company, valued at $23,590,294.56. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.81% of the stock is owned by insiders.

Kinder Morgan Price Performance

NYSE:KMI traded up $0.02 during mid-day trading on Monday, hitting $28.51. The company’s stock had a trading volume of 885,801 shares, compared to its average volume of 13,823,978. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average of $24.56 and a 200-day moving average of $21.84. The company has a market capitalization of $63.34 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 4.10 and a beta of 0.91. Kinder Morgan, Inc. has a fifty-two week low of $16.47 and a fifty-two week high of $28.81.

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

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.2875 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.03%. Kinder Morgan’s dividend payout ratio is presently 100.88%.

Wall Street Analyst Weigh In

Several brokerages recently commented on KMI. Royal Bank of Canada lifted their target price on shares of Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. 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. Wells Fargo & Company increased their price objective on Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley set a $26.00 target price on shares of Kinder Morgan in a research report on Friday, October 18th. Finally, UBS Group increased their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.36.

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.