Precedent Wealth Partners LLC Reduces Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Precedent Wealth Partners LLC trimmed its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 58,812 shares of the pipeline company’s stock after selling 399 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Kinder Morgan were worth $1,611,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC purchased a new stake in shares of Kinder Morgan in the fourth quarter worth about $25,000. Modus Advisors LLC purchased a new stake in Kinder Morgan in the 4th quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new position in shares of Kinder Morgan during the 3rd quarter valued at $28,000. HWG Holdings LP bought a new position in shares of Kinder Morgan in the second quarter worth $30,000. Finally, Planning Capital Management Corp raised its position in shares of Kinder Morgan by 143.6% in the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock worth $30,000 after buying an additional 797 shares in the last quarter. Institutional investors own 62.52% of the company’s stock.

Insider Activity at Kinder Morgan

In related news, 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 transaction, the president now owns 897,652 shares in the company, valued at $23,590,294.56. This represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy W. Chronis purchased 2,241 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the completion of the purchase, the director now owns 23,995 shares in the company, valued at approximately $597,235.55. The trade was a 10.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 55,121 shares of company stock valued at $1,497,000. 12.64% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group upped their target price on Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Mizuho raised their target price on shares of Kinder Morgan from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley increased their price target on shares of Kinder Morgan from $24.00 to $36.00 in a report on Thursday. Royal Bank of Canada raised their price target on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Finally, Bank of America started coverage on Kinder Morgan in a research report on Thursday, October 17th. They set a “buy” rating and a $27.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.92.

Kinder Morgan Stock Performance

Shares of KMI stock opened at $30.23 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average of $28.03 and a 200 day moving average of $24.44. The firm has a market capitalization of $67.16 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 4.13 and a beta of 0.94. Kinder Morgan, Inc. has a 52 week low of $16.47 and a 52 week high of $31.48.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, January 22nd. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a net margin of 17.31% and a return on equity of 8.10%. As a group, research analysts expect that Kinder Morgan, Inc. will post 1.27 earnings per share for the current year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be given a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, February 3rd. Kinder Morgan’s dividend payout ratio is presently 98.29%.

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.