Bahl & Gaynor Inc. Purchases 59,290 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Bahl & Gaynor Inc. grew its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,014,506 shares of the pipeline company’s stock after acquiring an additional 59,290 shares during the quarter. Bahl & Gaynor Inc. owned about 0.18% of Kinder Morgan worth $70,816,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KMI. Tucker Asset Management LLC bought a new position in shares of Kinder Morgan during the 3rd quarter valued at approximately $25,000. Hartford Financial Management Inc. bought a new stake in Kinder Morgan in the third quarter worth $26,000. Activest Wealth Management bought a new stake in Kinder Morgan in the fourth quarter worth $30,000. OFI Invest Asset Management bought a new stake in Kinder Morgan in the third quarter worth $33,000. Finally, Rakuten Securities Inc. bought a new stake in Kinder Morgan in the fourth quarter worth $33,000. 62.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KMI has been the subject of a number of analyst reports. 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. StockNews.com downgraded Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $20.20.

Kinder Morgan Stock Performance

KMI stock opened at $18.68 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.50 and a debt-to-equity ratio of 0.95. The business’s fifty day simple moving average is $17.98 and its two-hundred day simple moving average is $17.47. Kinder Morgan, Inc. has a twelve month low of $15.89 and a twelve month high of $18.92. The firm has a market cap of $41.46 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 5.31 and a beta of 0.90.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the firm posted $0.30 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. 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. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.2875 per share. The ex-dividend date is Monday, April 29th. This represents a $1.15 annualized dividend and a dividend yield of 6.16%. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s dividend payout ratio (DPR) is currently 102.73%.

Insider Activity

In other news, Director Michael C. Morgan sold 230,000 shares of the firm’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 owns 345,087 shares in the company, valued at $6,494,537.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.64% of the company’s stock.

About Kinder Morgan

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.