State of Tennessee Department of Treasury reduced its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 735,563 shares of the pipeline company's stock after selling 32,158 shares during the quarter. State of Tennessee Department of Treasury's holdings in Kinder Morgan were worth $20,154,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in KMI. CX Institutional boosted its stake in shares of Kinder Morgan by 2.3% during the 4th quarter. CX Institutional now owns 15,661 shares of the pipeline company's stock worth $429,000 after acquiring an additional 354 shares in the last quarter. Sunflower Bank N.A. increased its holdings in Kinder Morgan by 3.6% in the 4th quarter. Sunflower Bank N.A. now owns 10,503 shares of the pipeline company's stock worth $288,000 after acquiring an additional 367 shares in the last quarter. Ignite Planners LLC raised its holdings in shares of Kinder Morgan by 3.9% during the fourth quarter. Ignite Planners LLC now owns 9,992 shares of the pipeline company's stock valued at $282,000 after acquiring an additional 372 shares during the last quarter. Eagle Bay Advisors LLC raised its position in shares of Kinder Morgan by 8.0% in the fourth quarter. Eagle Bay Advisors LLC now owns 5,182 shares of the pipeline company's stock valued at $142,000 after buying an additional 385 shares during the last quarter. Finally, Bristlecone Advisors LLC grew its holdings in Kinder Morgan by 2.6% in the 4th quarter. Bristlecone Advisors LLC now owns 15,794 shares of the pipeline company's stock valued at $433,000 after buying an additional 400 shares in the last quarter. Institutional investors own 62.52% of the company's stock.
Kinder Morgan Stock Performance
Shares of KMI traded down $0.02 during midday trading on Friday, reaching $26.85. 9,264,214 shares of the stock were exchanged, compared to its average volume of 13,943,635. The company has a market capitalization of $59.66 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 3.08 and a beta of 0.72. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.49 and a quick ratio of 0.39. Kinder Morgan, Inc. has a twelve month low of $18.13 and a twelve month high of $31.48. The business's 50-day moving average price is $26.94 and its 200 day moving average price is $26.99.
Kinder Morgan (NYSE:KMI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share for the quarter, hitting analysts' consensus estimates of $0.34. Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. The firm had revenue of $4.24 billion during the quarter, compared to analysts' expectations of $4.02 billion. On average, sell-side analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.
Kinder Morgan Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a $0.2925 dividend. This is a positive change from Kinder Morgan's previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 30th. This represents a $1.17 annualized dividend and a yield of 4.36%. Kinder Morgan's dividend payout ratio is 100.86%.
Insiders Place Their Bets
In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 directly owns 825,652 shares of the company's stock, valued at approximately $21,970,599.72. The trade was a 2.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 owns 220,681 shares in the company, valued at $5,881,148.65. This trade represents a 25.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,461 shares of company stock worth $3,506,116. Insiders own 12.73% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. Citigroup upped their price target on Kinder Morgan from $25.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, January 29th. Royal Bank of Canada upped their price target on Kinder Morgan from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research note on Monday, March 3rd. Truist Financial lifted their price objective on Kinder Morgan from $25.00 to $31.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lifted their target price on Kinder Morgan from $28.00 to $29.00 and gave the company a "neutral" rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley increased their price target on shares of Kinder Morgan from $24.00 to $36.00 in a research report on Thursday, January 23rd. 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.64.
Read Our Latest Research Report on KMI
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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