Kinder Morgan, Inc. (NYSE:KMI) Stock Position Lowered by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in Kinder Morgan, Inc. (NYSE:KMI) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,817 shares of the pipeline company’s stock after selling 5,077 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kinder Morgan were worth $1,170,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Newman Dignan & Sheerar Inc. lifted its position in Kinder Morgan by 4.3% in the 1st quarter. Newman Dignan & Sheerar Inc. now owns 13,173 shares of the pipeline company’s stock worth $242,000 after buying an additional 547 shares in the last quarter. Accurate Wealth Management LLC lifted its position in Kinder Morgan by 2.6% in the 1st quarter. Accurate Wealth Management LLC now owns 22,598 shares of the pipeline company’s stock worth $426,000 after buying an additional 568 shares in the last quarter. Mutual Advisors LLC lifted its position in Kinder Morgan by 0.7% in the 1st quarter. Mutual Advisors LLC now owns 90,237 shares of the pipeline company’s stock worth $1,655,000 after buying an additional 597 shares in the last quarter. Cubic Asset Management LLC lifted its position in Kinder Morgan by 5.1% in the 4th quarter. Cubic Asset Management LLC now owns 12,292 shares of the pipeline company’s stock worth $217,000 after buying an additional 600 shares in the last quarter. Finally, Thoroughbred Financial Services LLC lifted its position in Kinder Morgan by 2.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 30,018 shares of the pipeline company’s stock worth $529,000 after buying an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insiders Place Their Bets

In other news, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the sale, the vice president now owns 259,069 shares in the company, valued at approximately $5,116,612.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the sale, the vice president now owns 259,069 shares in the company, valued at approximately $5,116,612.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Sital K. Mody sold 21,413 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total transaction of $455,026.25. Following the sale, the vice president now owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The disclosure for this sale can be found here. Insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Performance

NYSE KMI traded down $0.19 during midday trading on Monday, hitting $21.18. The company had a trading volume of 3,972,346 shares, compared to its average volume of 14,129,564. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90. The firm has a fifty day simple moving average of $19.96 and a two-hundred day simple moving average of $18.61. Kinder Morgan, Inc. has a fifty-two week low of $15.89 and a fifty-two week high of $21.86. The stock has a market cap of $47.01 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 2.90 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the prior year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast that Kinder Morgan, Inc. will post 1.23 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 Thursday, August 15th. Shareholders of record on Wednesday, July 31st will be paid a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend is Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is presently 104.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $18.00 to $22.00 in a research report on Tuesday, June 4th. JPMorgan Chase & Co. raised their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday. UBS Group raised their price target on shares of Kinder Morgan from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Truist Financial raised their price target on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday. Finally, Argus upgraded shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Friday, July 19th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and an average target price of $22.25.

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.