Thrivent Financial for Lutherans Increases Stake in Kinder Morgan, Inc. (NYSE:KMI)

Thrivent Financial for Lutherans grew its position in Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 261.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 329,091 shares of the pipeline company's stock after acquiring an additional 237,952 shares during the quarter. Thrivent Financial for Lutherans' holdings in Kinder Morgan were worth $9,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of KMI. Retirement Wealth Solutions LLC purchased a new stake in Kinder Morgan during the fourth quarter valued at $25,000. Centricity Wealth Management LLC purchased a new stake in shares of Kinder Morgan during the 4th quarter valued at about $25,000. Modus Advisors LLC bought a new position in shares of Kinder Morgan in the 4th quarter valued at about $27,000. Heck Capital Advisors LLC purchased a new position in Kinder Morgan in the fourth quarter worth about $29,000. Finally, SRS Capital Advisors Inc. increased its stake in Kinder Morgan by 178.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,098 shares of the pipeline company's stock worth $30,000 after acquiring an additional 703 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, President Thomas A. Martin sold 18,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $27.91, for a total transaction of $502,380.00. Following the completion of the transaction, the president now owns 861,652 shares in the company, valued at $24,048,707.32. The trade was a 2.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the sale, the vice president now owns 220,681 shares of the company's stock, valued at approximately $5,881,148.65. This trade represents a 25.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,461 shares of company stock worth $3,490,996. 12.64% of the stock is currently owned by company insiders.

Remove Ads

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Kinder Morgan from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Mizuho boosted their price objective on shares of Kinder Morgan from $31.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, January 23rd. Truist Financial raised 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. Barclays raised shares of Kinder Morgan from an "equal weight" rating to an "overweight" rating and set a $31.00 price objective on the stock in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group boosted their target price on Kinder Morgan from $26.00 to $29.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $29.64.

Kinder Morgan Stock Up 0.3 %

Shares of KMI stock traded up $0.09 on Tuesday, hitting $28.80. The stock had a trading volume of 11,388,563 shares, compared to its average volume of 13,162,358. The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 0.94. Kinder Morgan, Inc. has a one year low of $17.61 and a one year high of $31.48. The business has a 50 day moving average price of $27.57 and a 200 day moving average price of $26.26. The company has a market cap of $63.99 billion, a PE ratio of 24.62, a P/E/G ratio of 3.08 and a beta of 0.94.

Kinder Morgan (NYSE:KMI - Get Free Report) last announced 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%. Research analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.2875 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.15 annualized dividend and a yield of 3.99%. Kinder Morgan's dividend payout ratio (DPR) is presently 98.29%.

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.