Traynor Capital Management Inc. reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 22.2% during the second quarter, Holdings Channel reports. The firm owned 19,378 shares of the pipeline company’s stock after selling 5,528 shares during the period. Traynor Capital Management Inc.’s holdings in Kinder Morgan were worth $396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of KMI. Sippican Capital Advisors raised its position in shares of Kinder Morgan by 0.7% in the first quarter. Sippican Capital Advisors now owns 11,165 shares of the pipeline company’s stock valued at $243,000 after buying an additional 75 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Kinder Morgan by 3.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 50,605 shares of the pipeline company’s stock valued at $1,029,000 after buying an additional 1,596 shares during the last quarter. Adams Asset Advisors LLC raised its position in shares of Kinder Morgan by 219.5% in the first quarter. Adams Asset Advisors LLC now owns 160,086 shares of the pipeline company’s stock valued at $3,480,000 after buying an additional 109,981 shares during the last quarter. Boyd Watterson Asset Management LLC OH raised its position in shares of Kinder Morgan by 8.2% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 39,506 shares of the pipeline company’s stock valued at $859,000 after buying an additional 3,005 shares during the last quarter. Finally, Truepoint Inc. acquired a new position in shares of Kinder Morgan during the first quarter valued at about $520,000. Institutional investors and hedge funds own 57.40% of the company’s stock.

Shares of Kinder Morgan, Inc. (NYSE KMI) opened at 18.55 on Friday. The stock has a market cap of $41.43 billion, a P/E ratio of 61.22 and a beta of 0.64. The stock’s 50 day moving average is $19.65 and its 200-day moving average is $20.40. Kinder Morgan, Inc. has a one year low of $18.23 and a one year high of $23.36.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, July 19th. The pipeline company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Kinder Morgan had a net margin of 6.20% and a return on equity of 4.41%. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the company earned $0.15 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Kinder Morgan, Inc. will post $0.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.50 annualized dividend and a dividend yield of 2.70%. Kinder Morgan’s dividend payout ratio (DPR) is currently 161.29%.

Kinder Morgan announced that its Board of Directors has approved a share buyback plan on Wednesday, July 19th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the pipeline company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: This piece of content was first posted by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/19/traynor-capital-management-inc-lowers-stake-in-kinder-morgan-inc-kmi.html.

Several research analysts recently issued reports on the stock. Stifel Nicolaus set a $25.00 price target on shares of Kinder Morgan and gave the stock a “buy” rating in a research note on Thursday. BidaskClub lowered shares of Kinder Morgan from a “sell” rating to a “strong sell” rating in a research note on Wednesday. BMO Capital Markets reiterated a “buy” rating and issued a $26.00 price target on shares of Kinder Morgan in a research note on Friday, July 28th. Mizuho assumed coverage on shares of Kinder Morgan in a research note on Thursday, July 27th. They issued a “neutral” rating and a $22.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Kinder Morgan from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $23.91.

In other news, VP Dax Sanders bought 2,600 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were purchased at an average price of $18.60 per share, for a total transaction of $48,360.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard D. Kinder bought 500,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average price of $18.58 per share, for a total transaction of $9,290,000.00. Following the transaction, the insider now owns 234,712,353 shares of the company’s stock, valued at $4,360,955,518.74. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 507,503 shares of company stock worth $9,437,597. Corporate insiders own 13.99% of the company’s stock.

About Kinder Morgan

Kinder Morgan, Inc is an energy infrastructure company. It operates through five segments. Its Natural Gas Pipelines segment is engaged in the ownership and operation of interstate and intrastate natural gas pipeline and storage systems, and liquefied natural gas facilities, among others. Its CO2 segment is engaged in the production, transportation and marketing of carbon dioxide (CO2) to oil fields and the ownership and operation of a crude oil pipeline system, among others.

Want to see what other hedge funds are holding KMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinder Morgan, Inc. (NYSE:KMI).

Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

Receive News & Ratings for Kinder Morgan Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinder Morgan Inc. and related companies with MarketBeat.com's FREE daily email newsletter.