Kinder Morgan, Inc. $KMI Shares Sold by Atria Wealth Solutions Inc.

by · The Markets Daily

Atria Wealth Solutions Inc. cut its holdings in Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 65.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 52,785 shares of the pipeline company’s stock after selling 102,117 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Kinder Morgan were worth $1,549,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in KMI. Nuveen LLC purchased a new stake in shares of Kinder Morgan in the 1st quarter worth about $205,966,000. 59 North Capital Management LP purchased a new stake in shares of Kinder Morgan in the 1st quarter worth about $195,658,000. Goldman Sachs Group Inc. boosted its position in shares of Kinder Morgan by 37.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,281,385 shares of the pipeline company’s stock worth $578,628,000 after buying an additional 5,529,065 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Kinder Morgan by 55.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 8,505,330 shares of the pipeline company’s stock worth $250,057,000 after buying an additional 3,037,095 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Kinder Morgan in the 2nd quarter worth about $68,124,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Cowen assumed coverage on shares of Kinder Morgan in a report on Monday, July 7th. They issued a “buy” rating on the stock. Barclays restated an “overweight” rating and issued a $32.00 target price (up from $31.00) on shares of Kinder Morgan in a report on Monday, June 23rd. Jefferies Financial Group assumed coverage on shares of Kinder Morgan in a report on Thursday, October 9th. They issued a “hold” rating and a $30.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a “hold” rating in a report on Thursday, August 14th. Finally, TD Cowen assumed coverage on shares of Kinder Morgan in a report on Monday, July 7th. They issued a “buy” rating and a $34.00 target price on the stock. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Kinder Morgan currently has an average rating of “Moderate Buy” and an average price target of $31.13.

Get Our Latest Analysis on KMI

Insider Buying and Selling at Kinder Morgan

In related news, CFO David Patrick Michels sold 40,000 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $28.19, for a total transaction of $1,127,600.00. Following the completion of the sale, the chief financial officer owned 159,428 shares of the company’s stock, valued at approximately $4,494,275.32. This represents a 20.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sital K. Mody sold 45,549 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $27.96, for a total transaction of $1,273,550.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,174 shares of company stock worth $3,727,678. 12.73% of the stock is currently owned by insiders.

Kinder Morgan Trading Down 1.6%

Shares of KMI stock opened at $27.18 on Friday. The firm has a market cap of $60.40 billion, a P/E ratio of 22.28, a PEG ratio of 3.25 and a beta of 0.78. Kinder Morgan, Inc. has a 1-year low of $23.94 and a 1-year high of $31.48. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.68 and a quick ratio of 0.53. The firm’s 50-day simple moving average is $27.25 and its 200-day simple moving average is $27.42.

Kinder Morgan (NYSE:KMI – Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The pipeline company reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.75 billion. Kinder Morgan had a net margin of 17.06% and a return on equity of 8.31%. The company’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS. As a group, equities analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current year.

Kinder Morgan Profile

(Free Report)

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.

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