Resona Asset Management Co. Ltd. Purchases New Stake in Kinder Morgan, Inc. (NYSE:KMI)

Resona Asset Management Co. Ltd. acquired a new position in Kinder Morgan, Inc. (NYSE:KMI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 572,223 shares of the pipeline company’s stock, valued at approximately $15,661,000.

Several other institutional investors have also recently added to or reduced their stakes in KMI. Smith Moore & CO. bought a new stake in shares of Kinder Morgan during the 4th quarter valued at about $215,000. Arete Wealth Advisors LLC grew its holdings in shares of Kinder Morgan by 11.4% during the fourth quarter. Arete Wealth Advisors LLC now owns 74,181 shares of the pipeline company’s stock valued at $2,035,000 after purchasing an additional 7,616 shares during the last quarter. Motley Fool Asset Management LLC raised its position in shares of Kinder Morgan by 13.2% during the 4th quarter. Motley Fool Asset Management LLC now owns 101,160 shares of the pipeline company’s stock worth $2,772,000 after purchasing an additional 11,834 shares during the period. World Investment Advisors lifted its holdings in shares of Kinder Morgan by 95.2% in the 4th quarter. World Investment Advisors now owns 72,977 shares of the pipeline company’s stock worth $2,000,000 after purchasing an additional 35,586 shares during the last quarter. Finally, Nicolet Advisory Services LLC boosted its position in Kinder Morgan by 15.9% during the 4th quarter. Nicolet Advisory Services LLC now owns 10,891 shares of the pipeline company’s stock valued at $307,000 after purchasing an additional 1,498 shares during the period. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Price Performance

NYSE:KMI opened at $25.27 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $27.20 and its 200 day moving average price is $26.61. Kinder Morgan, Inc. has a 52-week low of $17.61 and a 52-week high of $31.48. The firm has a market cap of $56.14 billion, a P/E ratio of 21.59, a PEG ratio of 3.08 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. As a group, sell-side analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a dividend of $0.2875 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.55%. Kinder Morgan’s dividend payout ratio (DPR) is presently 98.29%.

Insider Buying and Selling

In other news, VP John W. Schlosser sold 75,461 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.65, for a total value of $2,011,035.65. Following the transaction, the vice president now directly owns 220,681 shares of the company’s stock, valued at $5,881,148.65. This trade represents a 25.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Thomas A. Martin sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $26.61, for a total transaction of $478,980.00. Following the sale, the president now owns 825,652 shares in the company, valued at $21,970,599.72. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,461 shares of company stock worth $3,506,116 in the last three months. 12.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KMI. Mizuho raised their target price on Kinder Morgan from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Truist Financial boosted their target price on shares of Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Morgan Stanley raised their price target on shares of Kinder Morgan from $24.00 to $36.00 in a research note on Thursday, January 23rd. Citigroup boosted their price objective on Kinder Morgan from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company raised their target price on Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.64.

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.