First Trust Advisors LP Raises Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

First Trust Advisors LP grew its stake in Kinder Morgan, Inc. (NYSE:KMIFree Report) by 89.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,106,519 shares of the pipeline company’s stock after purchasing an additional 993,485 shares during the quarter. First Trust Advisors LP owned approximately 0.09% of Kinder Morgan worth $37,159,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wesbanco Bank Inc. boosted its holdings in Kinder Morgan by 0.4% in the 3rd quarter. Wesbanco Bank Inc. now owns 148,549 shares of the pipeline company’s stock worth $2,463,000 after buying an additional 599 shares during the last quarter. Cubic Asset Management LLC boosted its stake in shares of Kinder Morgan by 5.1% in the fourth quarter. Cubic Asset Management LLC now owns 12,292 shares of the pipeline company’s stock worth $217,000 after acquiring an additional 600 shares during the last quarter. Thoroughbred Financial Services LLC increased its position in shares of Kinder Morgan by 2.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 30,018 shares of the pipeline company’s stock worth $529,000 after purchasing an additional 610 shares in the last quarter. Pacifica Partners Inc. raised its stake in Kinder Morgan by 0.3% in the 4th quarter. Pacifica Partners Inc. now owns 183,827 shares of the pipeline company’s stock valued at $3,217,000 after purchasing an additional 620 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in Kinder Morgan by 6.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 10,719 shares of the pipeline company’s stock valued at $189,000 after purchasing an additional 625 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on KMI shares. Truist Financial reaffirmed a “hold” rating and set a $20.00 target price (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Wells Fargo & Company raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $22.00 in a research note on Tuesday, June 4th. Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Read Our Latest Research Report on KMI

Kinder Morgan Stock Down 1.0 %

Shares of NYSE KMI opened at $19.62 on Friday. Kinder Morgan, Inc. has a 1 year low of $15.89 and a 1 year high of $19.93. The company has a market capitalization of $43.54 billion, a P/E ratio of 17.84, a P/E/G ratio of 3.10 and a beta of 0.92. The company has a 50 day simple moving average of $18.86 and a 200-day simple moving average of $17.98. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.38.

Kinder Morgan (NYSE:KMIGet Free Report) last posted its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates of $0.34. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, equities research analysts predict that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were given a dividend of $0.2875 per share. The ex-dividend date was Monday, April 29th. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.86%. Kinder Morgan’s dividend payout ratio (DPR) is currently 104.55%.

Insider Activity

In related news, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $18.82, for a total value of $4,328,600.00. Following the completion of the sale, the director now owns 345,087 shares in the company, valued at approximately $6,494,537.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $18.82, for a total value of $4,328,600.00. Following the completion of the transaction, the director now directly owns 345,087 shares of the company’s stock, valued at approximately $6,494,537.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Dax Sanders sold 50,000 shares of the firm’s 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 transaction, the vice president now directly owns 259,069 shares of the company’s stock, valued at approximately $5,116,612.75. The disclosure for this sale can be found here. Insiders own 12.64% of the company’s stock.

Kinder Morgan Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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