Kettle Hill Capital Management LLC acquired a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) in the fourth quarter, Holdings Channel.com reports. The fund acquired 642,259 shares of the pipeline company’s stock, valued at approximately $17,656,000. Kinder Morgan comprises about 3.9% of Kettle Hill Capital Management LLC’s holdings, making the stock its 10th biggest holding.
Several other large investors have also modified their holdings of the stock. Loomis Sayles & Co. L P increased its stake in Kinder Morgan by 13.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 2,860 shares of the pipeline company’s stock worth $79,000 after purchasing an additional 329 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Kinder Morgan by 4.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 8,445 shares of the pipeline company’s stock valued at $232,000 after buying an additional 333 shares in the last quarter. Waddell & Associates LLC boosted its holdings in shares of Kinder Morgan by 1.3% in the fourth quarter. Waddell & Associates LLC now owns 26,206 shares of the pipeline company’s stock worth $720,000 after buying an additional 336 shares during the period. Abbot Financial Management Inc. boosted its holdings in shares of Kinder Morgan by 0.8% in the fourth quarter. Abbot Financial Management Inc. now owns 44,707 shares of the pipeline company’s stock worth $1,229,000 after buying an additional 338 shares during the period. Finally, Personal CFO Solutions LLC increased its position in shares of Kinder Morgan by 4.5% in the fourth quarter. Personal CFO Solutions LLC now owns 7,896 shares of the pipeline company’s stock worth $217,000 after acquiring an additional 340 shares in the last quarter. 62.52% of the stock is owned by institutional investors.
Kinder Morgan Stock Performance
Shares of KMI opened at $31.43 on Tuesday. The company has a market capitalization of $69.93 billion, a PE ratio of 21.09, a PEG ratio of 2.66 and a beta of 0.54. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.41 and a current ratio of 0.52. The company’s 50 day moving average price is $32.25 and its 200 day moving average price is $30.81. Kinder Morgan, Inc. has a 52 week low of $25.60 and a 52 week high of $34.81.
Kinder Morgan Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a dividend of $0.2975 per share. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.29. This represents a $1.19 dividend on an annualized basis and a yield of 3.8%. Kinder Morgan’s payout ratio is 79.87%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Kinder Morgan from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Royal Bank Of Canada lifted their price objective on shares of Kinder Morgan from $32.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Monday, March 30th. Truist Financial started coverage on shares of Kinder Morgan in a research note on Tuesday, March 24th. They set a “hold” rating and a $38.00 target price on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Kinder Morgan in a report on Wednesday, June 10th. Finally, Weiss Ratings upgraded Kinder Morgan from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kinder Morgan has a consensus rating of “Moderate Buy” and an average target price of $34.53.
Get Our Latest Report on Kinder Morgan
Insider Transactions at Kinder Morgan
In other Kinder Morgan news, VP Michael P. Garthwaite sold 1,550 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $33.65, for a total value of $52,157.50. Following the transaction, the vice president directly owned 43,293 shares of the company’s stock, valued at $1,456,809.45. This represents a 3.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP John W. Schlosser sold 6,166 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $32.93, for a total value of $203,046.38. Following the sale, the vice president directly owned 182,706 shares of the company’s stock, valued at $6,016,508.58. This trade represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,598 shares of company stock worth $700,474 in the last 90 days. Corporate insiders own 12.72% of the company’s stock.
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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