Mystic Asset Management Inc. Reduces Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Mystic Asset Management Inc. trimmed its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 92,874 shares of the pipeline company’s stock after selling 2,031 shares during the period. Mystic Asset Management Inc.’s holdings in Kinder Morgan were worth $2,545,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KMI. Retirement Wealth Solutions LLC acquired a new position in Kinder Morgan in the fourth quarter valued at approximately $25,000. Centricity Wealth Management LLC acquired a new position in shares of Kinder Morgan in the 4th quarter valued at $25,000. Modus Advisors LLC purchased a new position in shares of Kinder Morgan in the 4th quarter valued at $27,000. Heck Capital Advisors LLC acquired a new stake in Kinder Morgan during the 4th quarter worth $29,000. Finally, SRS Capital Advisors Inc. lifted its position in Kinder Morgan by 178.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,098 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 703 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Trading Up 2.5 %

Shares of Kinder Morgan stock opened at $27.77 on Tuesday. The firm has a market cap of $61.69 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. Kinder Morgan, Inc. has a 52-week low of $17.52 and a 52-week high of $31.48. The company’s 50-day simple moving average is $27.59 and its 200-day simple moving average is $25.98. The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 0.94.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. As a group, equities research analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Monday, February 3rd. Kinder Morgan’s dividend payout ratio (DPR) is currently 98.29%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Scotiabank began coverage on Kinder Morgan in a report on Friday, January 10th. They set a “sector perform” rating and a $26.00 price objective on the stock. The Goldman Sachs Group raised their price target on Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada increased their price objective on Kinder Morgan from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Monday, March 3rd. Barclays raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a report on Monday, March 3rd. Finally, Morgan Stanley upped their price target on shares of Kinder Morgan from $24.00 to $36.00 in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.64.

Insiders Place Their Bets

In other news, VP John W. Schlosser sold 75,461 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.65, for a total transaction of $2,011,035.65. Following the completion of the sale, the vice president now directly owns 220,681 shares in the company, valued at approximately $5,881,148.65. This trade represents a 25.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $27.91, for a total value of $502,380.00. Following the completion of the sale, the president now owns 861,652 shares in the company, valued at approximately $24,048,707.32. This represents a 2.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 129,461 shares of company stock worth $3,490,996. Corporate insiders own 12.64% of the company’s stock.

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.