Kinder Morgan, Inc. (NYSE:KMI) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in Kinder Morgan, Inc. (NYSE:KMI) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,291,704 shares of the pipeline company’s stock after acquiring an additional 71,984 shares during the period. Principal Financial Group Inc. owned about 0.10% of Kinder Morgan worth $50,624,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KMI. Retirement Systems of Alabama raised its holdings in Kinder Morgan by 295.2% in the 3rd quarter. Retirement Systems of Alabama now owns 1,683,356 shares of the pipeline company’s stock worth $37,185,000 after purchasing an additional 1,257,428 shares during the period. Old North State Trust LLC raised its stake in shares of Kinder Morgan by 6.2% during the 3rd quarter. Old North State Trust LLC now owns 22,143 shares of the pipeline company’s stock worth $489,000 after buying an additional 1,300 shares during the period. Franklin Resources Inc. lifted its position in shares of Kinder Morgan by 44.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,142,956 shares of the pipeline company’s stock valued at $25,248,000 after buying an additional 349,158 shares in the last quarter. Peapack Gladstone Financial Corp grew its stake in Kinder Morgan by 2.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 180,272 shares of the pipeline company’s stock valued at $3,982,000 after acquiring an additional 4,717 shares during the period. Finally, Synovus Financial Corp increased its holdings in Kinder Morgan by 1.7% in the 3rd quarter. Synovus Financial Corp now owns 103,618 shares of the pipeline company’s stock worth $2,289,000 after acquiring an additional 1,769 shares in the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kinder Morgan

In related news, Director Amy W. Chronis acquired 2,241 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were purchased at an average cost of $24.89 per share, for a total transaction of $55,778.49. Following the acquisition, the director now owns 23,995 shares in the company, valued at $597,235.55. The trade was a 10.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director C Park Shaper sold 690,142 shares of Kinder Morgan stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the completion of the sale, the director now owns 6,809,858 shares of the company’s stock, valued at $168,543,985.50. This trade represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 727,263 shares of company stock worth $18,075,634. Company insiders own 12.64% of the company’s stock.

Wall Street Analyst Weigh In

KMI has been the topic of several research analyst reports. Bank of America began coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They issued a “buy” rating and a $27.00 target price on the stock. Barclays boosted their price objective on Kinder Morgan from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 17th. Truist Financial lifted their price target on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. UBS Group increased their price objective on Kinder Morgan from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada raised their price objective on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.25.

Kinder Morgan Trading Up 2.3 %

Shares of KMI opened at $26.85 on Monday. Kinder Morgan, Inc. has a 12-month low of $16.47 and a 12-month high of $28.81. The firm has a market capitalization of $59.65 billion, a P/E ratio of 23.55, a P/E/G ratio of 3.88 and a beta of 0.95. The firm has a 50-day moving average price of $26.44 and a 200 day moving average price of $22.93. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Sell-side analysts forecast that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Thursday, October 31st. Kinder Morgan’s dividend payout ratio is presently 100.88%.

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.