iA Global Asset Management Inc. Takes Position in Kinder Morgan, Inc. (NYSE:KMI)

iA Global Asset Management Inc. bought a new position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,403 shares of the pipeline company's stock, valued at approximately $583,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Duquesne Family Office LLC raised its position in Kinder Morgan by 74.0% in the 2nd quarter. Duquesne Family Office LLC now owns 6,753,165 shares of the pipeline company's stock worth $134,185,000 after buying an additional 2,872,665 shares during the last quarter. International Assets Investment Management LLC lifted its position in Kinder Morgan by 1,849.7% during the third quarter. International Assets Investment Management LLC now owns 2,164,637 shares of the pipeline company's stock valued at $47,817,000 after purchasing an additional 2,053,612 shares during the period. Marshall Wace LLP lifted its holdings in shares of Kinder Morgan by 20.6% during the 2nd quarter. Marshall Wace LLP now owns 7,770,943 shares of the pipeline company's stock valued at $154,409,000 after buying an additional 1,328,082 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Kinder Morgan by 35.3% in the second quarter. Renaissance Technologies LLC now owns 4,550,331 shares of the pipeline company's stock worth $90,415,000 after acquiring an additional 1,187,200 shares during the period. Finally, Caxton Associates LP purchased a new stake in Kinder Morgan during the second quarter valued at $20,575,000. 62.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective 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 initiated coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They set a "buy" rating and a $27.00 price objective for the company. Morgan Stanley set a $26.00 price objective on Kinder Morgan in a research note on Friday, October 18th. The Goldman Sachs Group upped their target price on shares of Kinder Morgan from $26.00 to $29.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Finally, Truist Financial upped their target price on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a "hold" rating in a research report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.75.

Kinder Morgan Price Performance

Kinder Morgan stock traded down $0.20 during trading on Tuesday, reaching $26.90. The company had a trading volume of 15,515,909 shares, compared to its average volume of 13,812,998. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. The firm's 50-day simple moving average is $25.87 and its 200 day simple moving average is $22.49. The firm has a market capitalization of $59.76 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 4.00 and a beta of 0.94. Kinder Morgan, Inc. has a 1-year low of $16.47 and a 1-year high of $28.81.

Kinder Morgan (NYSE:KMI - Get Free Report) last issued 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 16.76% and a return on equity of 7.87%. The company had revenue of $3.70 billion during the quarter, compared to analysts' expectations of $4.05 billion. During the same period in the prior year, the business posted $0.25 earnings per share. The company's quarterly revenue was down 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.2875 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.28%. Kinder Morgan's payout ratio is 100.88%.

Insiders Place Their Bets

In related news, Director C Park Shaper sold 690,142 shares of the 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 transaction, the director now owns 6,809,858 shares of the company's stock, valued at approximately $168,543,985.50. This represents a 9.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $27.34, for a total value of $492,120.00. Following the completion of the transaction, the president now directly owns 879,652 shares of the company's stock, valued at approximately $24,049,685.68. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 727,263 shares of company stock valued at $18,075,634 over the last ninety days. Company insiders own 12.81% of the company's stock.

About Kinder Morgan

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.