International Assets Investment Management LLC Sells Major Shares in Kinder Morgan, Inc.

International Assets Investment Management LLC has significantly reduced its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 95.5% during the fourth quarter. This decision was outlined in their latest report filed with the Securities and Exchange Commission (SEC). Following this adjustment, the institutional investor now holds 97,590 shares of the pipeline company, having sold off 2,067,047 shares in the process. As per their most recent filing with the SEC, the value of International Assets Investment Management LLC's holdings in Kinder Morgan stood at approximately $2,674,000.

A number of other institutional investors also made changes to their investments in Kinder Morgan. Notably, Duquesne Family Office LLC increased its holdings by 74.0% during the second quarter, now owning 6,753,165 shares worth around $134,185,000 after acquiring an additional 2,872,665 shares last quarter. Barclays PLC also raised its position in Kinder Morgan by 39.9% during the third quarter, now holding 8,186,207 shares valued at $180,833,000 after adding 2,334,273 shares.

Furthermore, National Bank of Canada FI's stake in Kinder Morgan surged by 295.5% during the same quarter, with ownership of 2,937,055 shares now valued at about $64,879,000 after purchasing 2,194,489 additional shares. Marshall Wace LLP increased its stake by 20.6% in the second quarter as well, currently owning 7,770,943 shares worth approximately $154,409,000. Retirement Systems of Alabama also raised its stake by 295.2% in the third quarter, bringing its total to 1,683,356 shares valued at $37,185,000.

In total, hedge funds and institutional investors now own 62.52% of Kinder Morgan's stock.

Recent Insider Activity

In related news, the company has seen some significant insider trading activity recently. Director C Park Shaper sold 690,142 shares on October 21st at an average price of $24.75, generating a total of $17,081,014.50. Post-sale, the director holds 6,809,858 shares valued at approximately $168,543,985.50, marking a 9.20% reduction in their ownership. This transaction was reported in a legal filing with the SEC.

Additionally, President Thomas A. Martin sold 19,121 shares on November 6th, with an average price of $26.28, for a total transaction value of $502,499.88. After this sale, Martin's holdings stand at 897,652 shares valued at about $23,590,294.56, which represents a decrease of 2.09% in their position. In total, corporate insiders have sold 745,263 shares worth $18,578,014 in the last three months, with insiders currently holding 12.81% of the stock.

Analysts' Outlook for Kinder Morgan

Research firms have recently shared their assessments of Kinder Morgan's stock. Wells Fargo & Company raised their price target from $27.00 to $30.00 and rated the stock as "overweight". Royal Bank of Canada increased their price target from $24.00 to $26.00, categorizing it as a "sector perform". UBS Group raised their price target to $34.00, issuing a "buy" rating for the stock, while the Goldman Sachs Group lifted their target from $26.00 to $29.00, also rating it as a "buy".

Overall, among analysts, eight have rated Kinder Morgan as a hold, five have given a buy rating, and one has issued a strong buy rating. The average rating is deemed to be a "Moderate Buy" with an average target price of $26.25.

Kinder Morgan's Stock Performance

On a recent trading day, shares of Kinder Morgan (NYSE:KMI - Get Free Report) increased by $0.03, reaching $27.84. The volume was 1,830,707 shares, compared to an average of 9,757,539. The company maintains a debt-to-equity ratio of 0.95, a current ratio of 0.46, and a quick ratio of 0.35. Over the past year, Kinder Morgan's stock has seen a low of $16.47 and a high of $28.81, and its market capitalization is currently $61.85 billion, with a price-to-earnings ratio of 24.42.

Kinder Morgan announced their most recent earnings on October 16th, where they reported earnings per share of $0.25, which was under the analysts' consensus estimate of $0.27. The company’s revenue for the quarter was reported at $3.70 billion, although this was below the anticipated $4.05 billion, reflecting a decline of 5.3% compared to the same period last year. Analysts project earnings of $1.18 per share for Kinder Morgan in the current fiscal year.

Dividend Announcement

Kinder Morgan also recently declared its quarterly dividend, which was issued on November 15th to shareholders recorded as of October 31st. The dividend amount was $0.2875, which leads to an annualized dividend yield of 4.13%. The dividend payout ratio currently stands at 100.88%.

About the Company

Kinder Morgan, Inc. operates within the energy infrastructure industry, primarily focused in North America. The company is involved in natural gas pipelines as well as other segments such as products pipelines, terminals, and CO2 services. The Natural Gas Pipelines segment is responsible for the ownership and management of interstate and intrastate natural gas pipelines as well as storage and processing facilities.

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