Spirit of America Management Corp NY Has $8.49 Million Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Spirit of America Management Corp NY cut its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 384,244 shares of the pipeline company’s stock after selling 11,000 shares during the quarter. Kinder Morgan comprises about 1.7% of Spirit of America Management Corp NY’s holdings, making the stock its 13th largest position. Spirit of America Management Corp NY’s holdings in Kinder Morgan were worth $8,488,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of KMI. SignalPoint Asset Management LLC boosted its stake in Kinder Morgan by 1.5% during the third quarter. SignalPoint Asset Management LLC now owns 30,059 shares of the pipeline company’s stock worth $655,000 after acquiring an additional 447 shares in the last quarter. Trust Co. of Oklahoma boosted its stake in Kinder Morgan by 1.5% during the third quarter. Trust Co. of Oklahoma now owns 33,586 shares of the pipeline company’s stock worth $742,000 after acquiring an additional 486 shares in the last quarter. Pinnacle West Asset Management Inc. boosted its stake in Kinder Morgan by 0.5% during the third quarter. Pinnacle West Asset Management Inc. now owns 96,150 shares of the pipeline company’s stock worth $2,124,000 after acquiring an additional 500 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Kinder Morgan by 0.3% during the second quarter. Oregon Public Employees Retirement Fund now owns 165,827 shares of the pipeline company’s stock worth $3,295,000 after acquiring an additional 530 shares in the last quarter. Finally, Premier Path Wealth Partners LLC boosted its stake in Kinder Morgan by 1.4% during the second quarter. Premier Path Wealth Partners LLC now owns 39,525 shares of the pipeline company’s stock worth $785,000 after acquiring an additional 545 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on KMI shares. Stifel Nicolaus increased their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. Bank of America assumed coverage on shares of Kinder Morgan in a research note on Thursday, October 17th. They set a “buy” rating and a $27.00 target price on the stock. Barclays raised their price objective on shares of Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, September 13th. Scotiabank raised their price objective on shares of Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Finally, UBS Group raised their price objective on shares of Kinder Morgan from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and an average price target of $24.91.

Kinder Morgan Stock Up 0.9 %

KMI opened at $24.99 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The company’s 50-day moving average is $22.35 and its 200 day moving average is $20.61. Kinder Morgan, Inc. has a fifty-two week low of $15.91 and a fifty-two week high of $25.43. The firm has a market capitalization of $55.46 billion, a P/E ratio of 22.72, a PEG ratio of 3.27 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. Research analysts expect that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be issued a dividend of $0.2875 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.15 dividend on an annualized basis and a yield of 4.60%. Kinder Morgan’s dividend payout ratio (DPR) is presently 104.55%.

Insider Buying and Selling

In related news, Director C Park Shaper sold 690,142 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the sale, the director now owns 6,809,858 shares in the company, valued at approximately $168,543,985.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the completion of the transaction, the vice president now owns 307,409 shares in the company, valued at $6,455,589. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Park Shaper sold 690,142 shares of Kinder Morgan stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the transaction, the director now owns 6,809,858 shares of the company’s stock, valued at $168,543,985.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 817,040 shares of company stock worth $19,747,879. 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.