Confluence Investment Management LLC Cuts Position in Kinder Morgan, Inc. (NYSE:KMI)

Confluence Investment Management LLC lowered its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,390,944 shares of the pipeline company’s stock after selling 93,615 shares during the quarter. Kinder Morgan makes up 1.7% of Confluence Investment Management LLC’s holdings, making the stock its 21st largest position. Confluence Investment Management LLC owned about 0.20% of Kinder Morgan worth $120,312,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KMI. Penney Financial LLC purchased a new position in shares of Kinder Morgan during the 3rd quarter valued at approximately $207,000. Principal Financial Group Inc. lifted its holdings in Kinder Morgan by 3.2% during the third quarter. Principal Financial Group Inc. now owns 2,291,704 shares of the pipeline company’s stock valued at $50,624,000 after purchasing an additional 71,984 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Kinder Morgan by 295.2% in the third quarter. Retirement Systems of Alabama now owns 1,683,356 shares of the pipeline company’s stock valued at $37,185,000 after purchasing an additional 1,257,428 shares during the period. Old North State Trust LLC increased its stake in shares of Kinder Morgan by 6.2% during the third quarter. Old North State Trust LLC now owns 22,143 shares of the pipeline company’s stock worth $489,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Franklin Resources Inc. raised 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 worth $25,248,000 after purchasing an additional 349,158 shares during the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.

Kinder Morgan Trading Up 1.6 %

NYSE:KMI traded up $0.45 on Thursday, hitting $27.85. The stock had a trading volume of 3,595,437 shares, compared to its average volume of 13,711,549. The company has a fifty day moving average price of $26.83 and a two-hundred day moving average price of $23.35. The stock has a market cap of $61.87 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 3.87 and a beta of 0.94. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a 1-year low of $16.47 and a 1-year high of $28.81.

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

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Thursday, October 31st. Kinder Morgan’s dividend payout ratio is presently 100.88%.

Analyst Upgrades and Downgrades

Several research firms have commented on KMI. Wells Fargo & Company boosted their price objective on Kinder Morgan from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Barclays boosted their price target on Kinder Morgan from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group raised their price objective on Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada increased their target price 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. Finally, Truist Financial boosted their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Eight 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.25.

Insider Activity

In other news, Director C Park Shaper sold 690,142 shares of Kinder Morgan stock in a transaction on Monday, October 21st. The stock was sold at an average price of $24.75, for a total value of $17,081,014.50. Following the completion of the sale, the director now directly owns 6,809,858 shares of the company’s stock, valued at approximately $168,543,985.50. The trade was a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Thomas A. Martin sold 19,121 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total value of $502,499.88. Following the transaction, the president now directly owns 897,652 shares in the company, valued at approximately $23,590,294.56. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 727,263 shares of company stock valued at $18,075,634. Company 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.