Keudell Morrison Wealth Management acquired a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 19,243 shares of the pipeline company’s stock, valued at approximately $529,000.
A number of other hedge funds also recently made changes to their positions in KMI. Ignite Planners LLC boosted its position in shares of Kinder Morgan by 6.0% in the fourth quarter. Ignite Planners LLC now owns 10,692 shares of the pipeline company’s stock worth $326,000 after purchasing an additional 602 shares during the period. Axxcess Wealth Management LLC raised its position in shares of Kinder Morgan by 90.7% during the 4th quarter. Axxcess Wealth Management LLC now owns 153,142 shares of the pipeline company’s stock valued at $4,210,000 after purchasing an additional 72,825 shares during the period. Van Hulzen Asset Management LLC raised its position in shares of Kinder Morgan by 4.3% during the 4th quarter. Van Hulzen Asset Management LLC now owns 237,718 shares of the pipeline company’s stock valued at $6,535,000 after purchasing an additional 9,698 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Kinder Morgan by 28.3% during the 4th quarter. Global Retirement Partners LLC now owns 49,283 shares of the pipeline company’s stock valued at $1,355,000 after buying an additional 10,882 shares in the last quarter. Finally, CWS Financial Advisors LLC boosted its holdings in Kinder Morgan by 17.3% in the 4th quarter. CWS Financial Advisors LLC now owns 16,064 shares of the pipeline company’s stock worth $442,000 after buying an additional 2,367 shares during the period. 62.52% of the stock is currently owned by institutional investors.
Kinder Morgan Trading Up 0.9%
Shares of Kinder Morgan stock opened at $33.80 on Friday. Kinder Morgan, Inc. has a twelve month low of $25.60 and a twelve month high of $34.81. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average price of $32.78 and a 200-day moving average price of $30.22. The firm has a market cap of $75.19 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.87 and a beta of 0.56.
Kinder Morgan Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $0.2975 per share. The ex-dividend date was Monday, May 4th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.29. Kinder Morgan’s dividend payout ratio is currently 79.87%.
Insiders Place Their Bets
In related news, VP John W. Schlosser sold 6,166 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $32.93, for a total value of $203,046.38. Following the sale, the vice president owned 182,706 shares in the company, valued at approximately $6,016,508.58. The trade was a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $33.65, for a total transaction of $52,157.50. Following the sale, the vice president directly owned 43,293 shares in the company, valued at approximately $1,456,809.45. The trade was a 3.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 23,148 shares of company stock valued at $763,434. 12.72% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on KMI. Wolfe Research lowered Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Royal Bank Of Canada upped their price objective on Kinder Morgan from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Monday, March 30th. Morgan Stanley increased their target price on Kinder Morgan from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Weiss Ratings raised Kinder Morgan from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, May 4th. Finally, Truist Financial started coverage on Kinder Morgan in a research note on Tuesday, March 24th. They issued a “hold” rating and a $38.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.20.
Get Our Latest Stock Report on KMI
About Kinder Morgan
Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.
Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.
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