Kinder Morgan, Inc. (NYSE:KMI) Stock Position Lessened by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 11.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,820,545 shares of the pipeline company’s stock after selling 357,750 shares during the period. Kinder Morgan accounts for 4.6% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 8th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.13% of Kinder Morgan worth $62,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Czech National Bank raised its stake in Kinder Morgan by 6.9% in the third quarter. Czech National Bank now owns 393,351 shares of the pipeline company’s stock valued at $8,689,000 after buying an additional 25,406 shares during the last quarter. LSV Asset Management purchased a new stake in Kinder Morgan during the 1st quarter worth approximately $8,818,000. Duality Advisers LP increased its stake in Kinder Morgan by 42.7% during the 1st quarter. Duality Advisers LP now owns 317,425 shares of the pipeline company’s stock valued at $5,822,000 after purchasing an additional 94,984 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Kinder Morgan by 221.3% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 251,635 shares of the pipeline company’s stock worth $4,615,000 after buying an additional 173,313 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Kinder Morgan by 6.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,545,943 shares of the pipeline company’s stock valued at $46,726,000 after acquiring an additional 144,687 shares during the period. 62.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Truist Financial raised their price objective on Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Scotiabank upped their price objective on shares of Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Bank of America initiated coverage on shares of Kinder Morgan in a research report on Thursday, October 17th. They set a “buy” rating and a $27.00 target price for the company. Morgan Stanley set a $26.00 price objective on Kinder Morgan in a report on Friday. Finally, Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Friday, July 19th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.91.

Kinder Morgan Stock Up 0.6 %

Kinder Morgan stock traded up $0.15 during mid-day trading on Tuesday, reaching $24.89. 4,028,979 shares of the company’s stock were exchanged, compared to its average volume of 13,815,601. The company has a market cap of $55.24 billion, a P/E ratio of 22.47, a P/E/G ratio of 3.27 and a beta of 0.93. The company has a fifty day moving average of $22.19 and a 200-day moving average of $20.54. Kinder Morgan, Inc. has a twelve month low of $15.91 and a twelve month high of $25.43. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. Sell-side analysts expect that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.2875 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.62%. Kinder Morgan’s dividend payout ratio is presently 104.55%.

Insider Activity at Kinder Morgan

In other news, VP Sital K. Mody sold 21,413 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the sale, the vice president now directly owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Kinder Morgan news, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the completion of the sale, the vice president now directly owns 307,409 shares of the company’s stock, valued at $6,455,589. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sital K. Mody sold 21,413 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the transaction, the vice president now owns 25,169 shares in the company, valued at $534,841.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,311 shares of company stock valued at $3,121,891 in the last ninety days. Insiders own 12.64% of the company’s stock.

About Kinder Morgan

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.