Bank of Nova Scotia Boosts Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Bank of Nova Scotia boosted its stake in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 350.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,298,734 shares of the pipeline company's stock after buying an additional 1,010,716 shares during the quarter. Bank of Nova Scotia owned approximately 0.06% of Kinder Morgan worth $35,585,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Kinder Morgan in the fourth quarter worth approximately $917,523,000. Raymond James Financial Inc. purchased a new position in Kinder Morgan in the 4th quarter valued at $157,804,000. Artisan Partners Limited Partnership purchased a new stake in shares of Kinder Morgan during the fourth quarter worth $87,729,000. Amundi raised its position in shares of Kinder Morgan by 28.9% in the fourth quarter. Amundi now owns 11,819,777 shares of the pipeline company's stock valued at $334,381,000 after buying an additional 2,650,040 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Kinder Morgan by 223.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,465,980 shares of the pipeline company's stock worth $94,968,000 after buying an additional 2,395,930 shares in the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, March 5th. Mizuho increased their price target on Kinder Morgan from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Scotiabank started coverage on Kinder Morgan in a research note on Friday, January 10th. They set a "sector perform" rating and a $26.00 price objective on the stock. Truist Financial upped their target price on Kinder Morgan from $25.00 to $31.00 and gave the company a "hold" rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada lifted their price target on Kinder Morgan from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Kinder Morgan has an average rating of "Moderate Buy" and an average price target of $29.64.

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Insider Activity

In other Kinder Morgan news, VP John W. Schlosser sold 75,461 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.65, for a total value of $2,011,035.65. Following the sale, the vice president now directly owns 220,681 shares in the company, valued at $5,881,148.65. This trade represents a 25.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Thomas A. Martin sold 18,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $27.70, for a total value of $498,600.00. Following the transaction, the president now directly owns 843,652 shares of the company's stock, valued at approximately $23,369,160.40. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,461 shares of company stock worth $3,506,116. 12.64% of the stock is currently owned by company insiders.

Kinder Morgan Trading Up 1.2 %

KMI stock traded up $0.31 during mid-day trading on Monday, hitting $26.78. 3,032,833 shares of the company were exchanged, compared to its average volume of 14,842,236. The business has a fifty day simple moving average of $26.95 and a 200-day simple moving average of $26.80. The firm has a market capitalization of $59.51 billion, a P/E ratio of 22.89, a PEG ratio of 3.08 and a beta of 0.72. Kinder Morgan, Inc. has a 12-month low of $17.61 and a 12-month high of $31.48. The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 0.94.

Kinder Morgan (NYSE:KMI - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. On average, equities research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Monday, February 3rd. Kinder Morgan's payout ratio is currently 98.29%.

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.