First Manhattan CO. LLC. purchased a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,050 shares of the pipeline company’s stock, valued at approximately $248,000.
Several other large investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in Kinder Morgan in the fourth quarter worth about $917,523,000. Raymond James Financial Inc. purchased a new position in Kinder Morgan in the 4th quarter worth approximately $157,804,000. Blackstone Inc. lifted its position in Kinder Morgan by 435.0% in the 4th quarter. Blackstone Inc. now owns 4,358,263 shares of the pipeline company’s stock valued at $119,416,000 after acquiring an additional 3,543,670 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in Kinder Morgan during the 4th quarter valued at $87,729,000. Finally, Amundi increased its holdings in shares of Kinder Morgan by 28.9% in the 4th quarter. Amundi now owns 11,819,777 shares of the pipeline company’s stock worth $334,381,000 after purchasing an additional 2,650,040 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on KMI. UBS Group upped their price target on Kinder Morgan from $34.00 to $38.00 and gave the company a “buy” rating in a report on Monday, January 27th. Morgan Stanley raised their price target on shares of Kinder Morgan from $24.00 to $36.00 in a report on Thursday, January 23rd. Scotiabank lifted their price target on shares of Kinder Morgan from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Monday, April 21st. Royal Bank of Canada increased their price objective on shares of Kinder Morgan from $27.00 to $28.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 29th. Finally, Truist Financial lifted their target price on shares of Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Kinder Morgan presently has an average rating of “Moderate Buy” and a consensus target price of $29.79.
Kinder Morgan Price Performance
NYSE KMI opened at $27.31 on Tuesday. Kinder Morgan, Inc. has a 52 week low of $18.83 and a 52 week high of $31.48. The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $60.68 billion, a P/E ratio of 23.34, a price-to-earnings-growth ratio of 3.08 and a beta of 0.74. The stock’s 50-day moving average price is $27.03 and its 200-day moving average price is $27.23.
Kinder Morgan (NYSE:KMI – Get Free Report) last released its earnings results on Wednesday, April 16th. The pipeline company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. On average, equities research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.
Kinder Morgan Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, April 30th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s dividend payout ratio is presently 100.86%.
Insider Buying and Selling at Kinder Morgan
In other Kinder Morgan news, VP John W. Schlosser sold 75,461 shares of Kinder Morgan stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $26.65, for a total value of $2,011,035.65. Following the sale, the vice president now directly owns 220,681 shares in the company, valued at approximately $5,881,148.65. The trade was a 25.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 18,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $26.61, for a total transaction 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. The trade was a 2.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,461 shares of company stock valued at $3,503,776 over the last ninety days. 12.73% of the stock is currently owned by company insiders.
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.
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