Kinder Morgan, Inc. (NYSE:KMI) Position Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,085,433 shares of the pipeline company’s stock after selling 28,276 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Kinder Morgan were worth $90,247,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Kinder Morgan during the third quarter valued at about $28,000. Pathway Financial Advisers LLC acquired a new stake in shares of Kinder Morgan in the first quarter valued at about $30,000. HWG Holdings LP acquired a new stake in shares of Kinder Morgan in the second quarter valued at about $30,000. Planning Capital Management Corp grew its position 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 worth $30,000 after buying an additional 797 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in Kinder Morgan during the second quarter worth about $31,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KMI shares. Stifel Nicolaus lifted their target price on Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Royal Bank of Canada raised their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 22nd. Truist Financial raised their price target on shares of 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 raised their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group boosted their target price on Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and an average target price of $25.67.

Kinder Morgan Stock Down 0.1 %

NYSE:KMI opened at $28.07 on Thursday. The stock’s fifty day moving average price is $24.95 and its two-hundred day moving average price is $22.01. Kinder Morgan, Inc. has a 52-week low of $16.47 and a 52-week high of $28.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. The company has a market cap of $62.36 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 4.01 and a beta of 0.91.

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 analysts’ consensus estimates of $0.27 by ($0.02). The company 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% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. On average, analysts anticipate that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is currently 100.88%.

Insider Activity at Kinder Morgan

In related news, Director C Park Shaper sold 690,142 shares of the company’s stock in a transaction on Monday, October 21st. The shares were 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 owns 6,809,858 shares in the company, valued at $168,543,985.50. This represents a 9.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 owns 897,652 shares of the company’s stock, valued at approximately $23,590,294.56. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. 12.81% of the stock is owned by corporate insiders.

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.