Northcape Wealth Management LLC Sells 6,689 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Northcape Wealth Management LLC cut its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 355,059 shares of the pipeline company’s stock after selling 6,689 shares during the period. Kinder Morgan comprises approximately 2.3% of Northcape Wealth Management LLC’s portfolio, making the stock its 9th largest position. Northcape Wealth Management LLC’s holdings in Kinder Morgan were worth $6,263,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in KMI. Tucker Asset Management LLC acquired a new position in shares of Kinder Morgan in the 3rd quarter worth approximately $25,000. Hartford Financial Management Inc. acquired a new position in shares of Kinder Morgan in the 3rd quarter worth approximately $26,000. Activest Wealth Management bought a new stake in shares of Kinder Morgan in the 4th quarter valued at $30,000. Rakuten Securities Inc. bought a new stake in shares of Kinder Morgan in the 4th quarter valued at $33,000. Finally, OFI Invest Asset Management bought a new stake in shares of Kinder Morgan in the 3rd quarter valued at $33,000. 62.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on KMI. Truist Financial reiterated a “hold” rating and issued a $20.00 price objective (down previously from $22.00) on shares of Kinder Morgan in a research note 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. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.20.

Insider Buying and Selling

In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the sale, the director now directly owns 345,087 shares of the company’s stock, valued at $6,494,537.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.81% of the stock is owned by insiders.

Kinder Morgan Stock Down 1.7 %

KMI stock traded down $0.31 during midday trading on Tuesday, reaching $18.29. 16,057,926 shares of the company’s stock traded hands, compared to its average volume of 14,220,674. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 0.95. The company has a market cap of $40.59 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 5.28 and a beta of 0.90. The firm’s fifty day moving average price is $18.01 and its 200-day moving average price is $17.49. Kinder Morgan, Inc. has a 52 week low of $15.89 and a 52 week high of $18.92.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data 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 firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. As a group, sell-side 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 will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.2875 dividend. This is an increase 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 6.29%. The ex-dividend date is Monday, April 29th. Kinder Morgan’s payout ratio is 102.73%.

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.