Cullinan Associates Inc. Reduces Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Cullinan Associates Inc. decreased its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 31.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,500 shares of the pipeline company’s stock after selling 4,837 shares during the quarter. Cullinan Associates Inc.’s holdings in Kinder Morgan were worth $288,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in KMI. Retirement Wealth Solutions LLC purchased a new position in shares of Kinder Morgan in the fourth quarter worth approximately $25,000. Modus Advisors LLC purchased a new position in Kinder Morgan during the fourth quarter valued at approximately $27,000. Northwest Investment Counselors LLC purchased a new position in Kinder Morgan during the third quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new position in Kinder Morgan during the fourth quarter valued at approximately $29,000. Finally, Planning Capital Management Corp lifted its holdings in Kinder Morgan by 143.6% during the third quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock valued at $30,000 after purchasing an additional 797 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

KMI has been the topic of several analyst reports. Bank of America initiated coverage on shares of Kinder Morgan in a report on Thursday, October 17th. They set a “buy” rating and a $27.00 price target on the stock. Barclays lifted their price target on shares of Kinder Morgan from $27.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Royal Bank of Canada lifted their price objective on shares of Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Truist Financial lifted their price objective on shares of Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Finally, Citigroup lifted their price objective on shares of Kinder Morgan from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.14.

Insider Activity

In other news, President Thomas A. Martin sold 18,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $27.34, for a total transaction of $492,120.00. Following the completion of the sale, the president now directly owns 879,652 shares of the company’s stock, valued at approximately $24,049,685.68. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.81% of the company’s stock.

Kinder Morgan Trading Down 0.2 %

Shares of KMI opened at $27.53 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.35 and a current ratio of 0.49. Kinder Morgan, Inc. has a fifty-two week low of $16.47 and a fifty-two week high of $31.48. The stock has a market capitalization of $61.16 billion, a PE ratio of 23.53, a P/E/G ratio of 3.12 and a beta of 0.94. The company’s fifty day moving average is $27.96 and its 200 day moving average is $24.80.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. Sell-side analysts expect that Kinder Morgan, Inc. will post 1.28 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Monday, February 3rd. Kinder Morgan’s dividend payout ratio is currently 98.29%.

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.