Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 5.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 806,833 shares of the pipeline company’s stock after selling 42,351 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Kinder Morgan were worth $25,794,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KMI. AlTi Global Inc. acquired a new stake in shares of Kinder Morgan in the second quarter valued at approximately $1,883,000. Advisor OS LLC increased its holdings in shares of Kinder Morgan by 3.1% in the 2nd quarter. Advisor OS LLC now owns 37,115 shares of the pipeline company’s stock valued at $1,187,000 after acquiring an additional 1,124 shares during the period. Gryphon Financial Partners LLC raised its position in Kinder Morgan by 3.2% in the 2nd quarter. Gryphon Financial Partners LLC now owns 12,511 shares of the pipeline company’s stock valued at $400,000 after purchasing an additional 386 shares during the last quarter. PDS Planning Inc raised its position in Kinder Morgan by 22.4% in the 2nd quarter. PDS Planning Inc now owns 8,673 shares of the pipeline company’s stock valued at $277,000 after purchasing an additional 1,587 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in Kinder Morgan during the 2nd quarter worth $59,605,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.
Kinder Morgan Trading Up 0.0%
Shares of KMI stock opened at $32.83 on Monday. The business’s fifty day moving average price is $31.99 and its 200 day moving average price is $32.26. Kinder Morgan, Inc. has a 1-year low of $25.60 and a 1-year high of $34.81. The firm has a market capitalization of $73.09 billion, a PE ratio of 21.04, a P/E/G ratio of 2.57 and a beta of 0.54. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.46 and a quick ratio of 0.36.
Kinder Morgan Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be issued a $0.2975 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, August 3rd. Kinder Morgan’s dividend payout ratio (DPR) is currently 76.28%.
Analysts Set New Price Targets
Several brokerages have issued reports on KMI. Wells Fargo & Company raised their price objective on shares of Kinder Morgan from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Zacks Research cut shares of Kinder Morgan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Morgan Stanley set a $38.00 price target on Kinder Morgan in a report on Wednesday, July 29th. The Goldman Sachs Group restated a “buy” rating on shares of Kinder Morgan in a research report on Wednesday, June 10th. Finally, Wolfe Research downgraded Kinder Morgan from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.50.
Get Our Latest Report on Kinder Morgan
Insider Activity
In other Kinder Morgan news, VP John W. Schlosser sold 6,166 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $31.90, for a total value of $196,695.40. Following the completion of the transaction, the vice president directly owned 164,208 shares of the company’s stock, valued at approximately $5,238,235.20. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Michael P. Garthwaite sold 1,550 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $31.44, for a total transaction of $48,732.00. Following the sale, the vice president owned 41,743 shares of the company’s stock, valued at approximately $1,312,399.92. The trade was a 3.58% 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 13,882 shares of company stock valued at $441,691 in the last quarter. Company insiders own 12.72% of the company’s stock.
Kinder Morgan Company Profile
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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