PNC Financial Services Group Inc. Buys 10,295 Shares of Kinder Morgan, Inc. (NYSE:KMI)

PNC Financial Services Group Inc. increased its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 419,050 shares of the pipeline company's stock after acquiring an additional 10,295 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Kinder Morgan were worth $11,482,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KMI. Bank of New York Mellon Corp grew 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 in the last quarter. Kayne Anderson Capital Advisors LP grew its position in Kinder Morgan by 0.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 10,550,002 shares of the pipeline company's stock worth $233,050,000 after buying an additional 69,307 shares in the last quarter. Barclays PLC increased its stake in Kinder Morgan by 39.9% in the 3rd quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company's stock worth $180,833,000 after acquiring an additional 2,334,273 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Kinder Morgan by 2.2% in 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 acquiring an additional 164,152 shares in the last quarter. Finally, Raymond James Financial Inc. bought 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.

Kinder Morgan Price Performance

KMI opened at $26.46 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.49 and a quick ratio of 0.39. The stock's 50 day simple moving average is $27.67 and its 200 day simple moving average is $25.82. The firm has a market cap of $58.78 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 3.08 and a beta of 0.94. Kinder Morgan, Inc. has a 1 year low of $17.45 and a 1 year high of $31.48.

Remove Ads

Kinder Morgan (NYSE:KMI - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share (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%. As a group, analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend was Monday, February 3rd. Kinder Morgan's dividend payout ratio (DPR) is 98.29%.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $26.61, for a total value of $478,980.00. Following the completion of the sale, the president now owns 825,652 shares in the company, valued at approximately $21,970,599.72. This trade represents a 2.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John W. Schlosser sold 75,461 shares of Kinder Morgan stock in a transaction that occurred 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 completion of the sale, the vice president now owns 220,681 shares in the company, valued at approximately $5,881,148.65. This represents a 25.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,461 shares of company stock worth $3,490,996. Company insiders own 12.64% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on KMI shares. Morgan Stanley upped their price objective on shares of Kinder Morgan from $24.00 to $36.00 in a research report on Thursday, January 23rd. Truist Financial raised their price objective on shares of Kinder Morgan from $25.00 to $31.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. UBS Group upped their target price on shares of Kinder Morgan from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Citigroup raised their price target 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, JPMorgan Chase & Co. upped their price objective on Kinder Morgan from $28.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, March 5th. Seven equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.64.

Kinder Morgan Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.