Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,638,639 shares of the pipeline company’s stock after selling 124,200 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Kinder Morgan worth $64,186,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Tucker Asset Management LLC acquired a new position in shares of Kinder Morgan during the third quarter valued at approximately $25,000. Hartford Financial Management Inc. purchased a new stake in shares of Kinder Morgan in the third quarter valued at approximately $26,000. Activest Wealth Management purchased a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $30,000. Rakuten Securities Inc. purchased a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $33,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Kinder Morgan in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Trading Down 0.1 %

Shares of Kinder Morgan stock opened at $18.80 on Friday. The firm has a market capitalization of $41.72 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 5.31 and a beta of 0.90. Kinder Morgan, Inc. has a fifty-two week low of $15.89 and a fifty-two week high of $18.92. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.28 and a current ratio of 0.50. The stock has a 50 day moving average of $17.95 and a 200 day moving average of $17.46.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $4.36 billion. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. As a group, research analysts predict that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 6.12%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, April 29th. Kinder Morgan’s dividend payout ratio is 102.73%.

Insiders Place Their Bets

In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the transaction, the director now directly owns 345,087 shares in the company, valued at $6,494,537.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on KMI shares. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Truist Financial restated a “hold” rating and issued a $20.00 price target (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.20.

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.