Legal & General Group Plc lowered its stake in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 25.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,254,193 shares of the pipeline company's stock after selling 5,264,246 shares during the quarter. Legal & General Group Plc owned 0.69% of Kinder Morgan worth $417,965,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in KMI. Trek Financial LLC lifted its holdings in shares of Kinder Morgan by 6.9% in the 4th quarter. Trek Financial LLC now owns 37,790 shares of the pipeline company's stock worth $1,035,000 after acquiring an additional 2,447 shares during the last quarter. FMR LLC boosted its position in Kinder Morgan by 19.0% during the 4th quarter. FMR LLC now owns 3,871,677 shares of the pipeline company's stock valued at $106,084,000 after buying an additional 618,290 shares during the period. Federated Hermes Inc. raised its stake in shares of Kinder Morgan by 8.9% during the fourth quarter. Federated Hermes Inc. now owns 19,054 shares of the pipeline company's stock valued at $522,000 after acquiring an additional 1,553 shares during the last quarter. Unigestion Holding SA grew its stake in shares of Kinder Morgan by 22.3% in the fourth quarter. Unigestion Holding SA now owns 93,364 shares of the pipeline company's stock worth $2,558,000 after purchasing an additional 16,993 shares during the last quarter. Finally, Peapack Gladstone Financial Corp increased its holdings in Kinder Morgan by 0.4% during the 4th quarter. Peapack Gladstone Financial Corp now owns 181,045 shares of the pipeline company's stock valued at $4,960,000 after purchasing an additional 773 shares during the period. 62.52% of the stock is owned by institutional investors.
Kinder Morgan Stock Performance
Shares of NYSE KMI traded up $0.64 during midday trading on Friday, hitting $26.43. 15,768,232 shares of the company's stock traded hands, compared to its average volume of 13,987,237. The firm has a fifty day moving average of $26.95 and a 200 day moving average of $26.80. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.39 and a current ratio of 0.49. The stock has a market capitalization of $58.73 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 3.08 and a beta of 0.72. Kinder Morgan, Inc. has a 1 year low of $17.61 and a 1 year high of $31.48.
Kinder Morgan (NYSE:KMI - Get Free Report) last issued 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 forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.
Kinder Morgan Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Monday, February 3rd. Kinder Morgan's payout ratio is 98.29%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Kinder Morgan from $28.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, March 5th. Truist Financial increased their target price on Kinder Morgan from $25.00 to $31.00 and gave the stock a "hold" rating in a research report on Thursday, January 23rd. Scotiabank began coverage on Kinder Morgan in a research note on Friday, January 10th. They issued a "sector perform" rating and a $26.00 price target on the stock. Citigroup raised their price objective on Kinder Morgan from $25.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley lifted their price target on shares of Kinder Morgan from $24.00 to $36.00 in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.64.
View Our Latest Research Report on KMI
Insider Transactions at Kinder Morgan
In other Kinder Morgan news, VP John W. Schlosser sold 75,461 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.65, for a total transaction of $2,011,035.65. Following the sale, the vice president now owns 220,681 shares in the company, valued at approximately $5,881,148.65. This trade represents a 25.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $27.70, for a total transaction of $498,600.00. Following the transaction, the president now directly owns 843,652 shares in the company, valued at $23,369,160.40. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,461 shares of company stock valued at $3,506,116 over the last quarter. 12.64% of the stock is currently owned by company insiders.
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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