Cyndeo Wealth Partners LLC Sells 23,088 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Cyndeo Wealth Partners LLC reduced its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 7.5% in the first quarter, Holdings Channel reports. The fund owned 283,769 shares of the pipeline company’s stock after selling 23,088 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Kinder Morgan were worth $8,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in shares of Kinder Morgan during the 4th quarter valued at approximately $25,000. Hurley Capital LLC bought a new position in shares of Kinder Morgan during the 4th quarter valued at approximately $25,000. Fourth Dimension Wealth LLC bought a new position in shares of Kinder Morgan during the 4th quarter valued at approximately $26,000. Morse Asset Management Inc bought a new position in shares of Kinder Morgan during the 4th quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Kinder Morgan during the 4th quarter valued at approximately $29,000. 62.52% of the stock is owned by institutional investors.

Kinder Morgan Stock Performance

NYSE KMI opened at $27.61 on Monday. Kinder Morgan, Inc. has a 1 year low of $19.47 and a 1 year high of $31.48. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.49 and a quick ratio of 0.39. The stock has a market capitalization of $61.34 billion, a PE ratio of 23.59, a P/E/G ratio of 3.08 and a beta of 0.74. The company’s 50 day simple moving average is $27.28 and its two-hundred day simple moving average is $27.43.

Kinder Morgan (NYSE:KMI) last posted its earnings results on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th were given a dividend of $0.2925 per share. The ex-dividend date was Wednesday, April 30th. This represents a $1.17 annualized dividend and a dividend yield of 4.24%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s dividend payout ratio (DPR) is 100.86%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KMI. Barclays raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 target price for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. raised their price objective on shares of Kinder Morgan from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Scotiabank raised their price objective on shares of Kinder Morgan from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Thursday, June 5th. Stifel Nicolaus raised their price objective on shares of Kinder Morgan from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Kinder Morgan in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.21.

Insider Activity

In other news, President Thomas A. Martin sold 18,000 shares of the firm’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $27.57, for a total transaction of $496,260.00. Following the sale, the president now owns 789,652 shares in the company, valued at approximately $21,770,705.64. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 54,000 shares of company stock worth $1,522,440. 12.73% of the stock is currently owned by corporate insiders.

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.