Envestnet Asset Management Inc. Boosts Position in Kinder Morgan, Inc. (NYSE:KMI)

Envestnet Asset Management Inc. grew its holdings in Kinder Morgan, Inc. (NYSE:KMIFree Report) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,040,275 shares of the pipeline company’s stock after acquiring an additional 281,730 shares during the period. Envestnet Asset Management Inc. owned about 0.23% of Kinder Morgan worth $88,910,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Altshuler Shaham Ltd purchased a new position in shares of Kinder Morgan during the 4th quarter valued at about $26,000. Tucker Asset Management LLC purchased a new position in Kinder Morgan during the third quarter valued at approximately $25,000. Activest Wealth Management acquired a new position in Kinder Morgan in the fourth quarter valued at approximately $30,000. Rakuten Securities Inc. purchased a new stake in Kinder Morgan in the 4th quarter worth approximately $33,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Kinder Morgan during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 62.52% of the company’s stock.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the transaction, the vice president now directly owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Dax Sanders sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the transaction, the vice president now directly owns 259,069 shares in the company, valued at $5,116,612.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan stock in a transaction 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 disclosure for this sale can be found here. 12.81% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Read Our Latest Stock Report on KMI

Kinder Morgan Stock Down 1.0 %

Shares of KMI opened at $19.62 on Monday. The stock has a 50 day moving average price of $18.86 and a 200 day moving average price of $17.98. Kinder Morgan, Inc. has a one year low of $15.89 and a one year high of $19.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.38 and a current ratio of 0.50. The stock has a market capitalization of $43.54 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 3.10 and a beta of 0.92.

Kinder Morgan (NYSE:KMIGet Free Report) last released its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

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

About Kinder Morgan

(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.

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

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