Maryland State Retirement & Pension System lowered its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,697,845 shares of the pipeline company's stock after selling 43,262 shares during the quarter. Kinder Morgan makes up approximately 1.0% of Maryland State Retirement & Pension System's holdings, making the stock its 17th biggest position. Maryland State Retirement & Pension System owned about 0.08% of Kinder Morgan worth $46,521,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of Kinder Morgan by 8.6% during the 4th quarter. Bank of New York Mellon Corp now owns 13,734,753 shares of the pipeline company's stock valued at $376,332,000 after purchasing an additional 1,093,242 shares during the last quarter. Amundi increased its position in shares of Kinder Morgan by 28.9% during the 4th quarter. Amundi now owns 11,819,777 shares of the pipeline company's stock valued at $334,381,000 after purchasing an additional 2,650,040 shares during the last quarter. Barclays PLC increased its position in shares of Kinder Morgan by 39.9% during the 3rd quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company's stock valued at $180,833,000 after purchasing an additional 2,334,273 shares during the last quarter. Bank of Montreal Can increased its position in shares of Kinder Morgan by 2.2% during the 3rd quarter. Bank of Montreal Can now owns 7,485,834 shares of the pipeline company's stock valued at $163,116,000 after purchasing an additional 164,152 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Kinder Morgan during the 4th quarter valued at about $157,804,000. Hedge funds and other institutional investors own 62.52% of the company's stock.
Insider Activity
In other news, VP John W. Schlosser sold 75,461 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.65, for a total transaction of $2,011,035.65. Following the completion of the transaction, the vice president now directly owns 220,681 shares in the company, valued at approximately $5,881,148.65. This represents a 25.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $27.91, for a total value of $502,380.00. Following the transaction, the president now owns 861,652 shares of the company's stock, valued at $24,048,707.32. This represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,461 shares of company stock worth $3,490,996. 12.64% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several equities research analysts recently issued reports on KMI shares. Scotiabank started coverage on shares of Kinder Morgan in a report on Friday, January 10th. They issued a "sector perform" rating and a $26.00 target price for the company. Mizuho increased their target price on shares of Kinder Morgan from $31.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on shares of Kinder Morgan from $28.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. Morgan Stanley increased their target price on shares of Kinder Morgan from $24.00 to $36.00 in a report on Thursday, January 23rd. Finally, Truist Financial increased their target price on shares of Kinder Morgan from $25.00 to $31.00 and gave the stock a "hold" rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Kinder Morgan presently has an average rating of "Moderate Buy" and a consensus price target of $29.64.
Get Our Latest Research Report on Kinder Morgan
Kinder Morgan Price Performance
KMI stock traded down $0.17 during midday trading on Friday, hitting $27.90. The company's stock had a trading volume of 19,504,849 shares, compared to its average volume of 13,181,878. 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. The firm has a market capitalization of $61.98 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. The company has a 50 day moving average of $27.57 and a two-hundred day moving average of $26.12.
Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share 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, analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current year.
Kinder Morgan Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a dividend of $0.2875 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.12%. Kinder Morgan's dividend payout ratio is currently 98.29%.
About Kinder Morgan
(
Free Report)
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.
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