The Manufacturers Life Insurance Company Decreases Position in Kinder Morgan, Inc. (NYSE:KMI)

The Manufacturers Life Insurance Company decreased its stake in Kinder Morgan, Inc. (NYSE:KMI) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,085,433 shares of the pipeline company’s stock after selling 28,276 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.18% of Kinder Morgan worth $90,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of KMI. Duquesne Family Office LLC boosted its position in shares of Kinder Morgan by 74.0% in the second quarter. Duquesne Family Office LLC now owns 6,753,165 shares of the pipeline company’s stock worth $134,185,000 after buying an additional 2,872,665 shares during the period. International Assets Investment Management LLC boosted its holdings in Kinder Morgan by 1,849.7% in the third quarter. International Assets Investment Management LLC now owns 2,164,637 shares of the pipeline company’s stock valued at $47,817,000 after purchasing an additional 2,053,612 shares during the last quarter. Marshall Wace LLP boosted its holdings in Kinder Morgan by 20.6% in the second quarter. Marshall Wace LLP now owns 7,770,943 shares of the pipeline company’s stock valued at $154,409,000 after purchasing an additional 1,328,082 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Kinder Morgan by 35.3% in the second quarter. Renaissance Technologies LLC now owns 4,550,331 shares of the pipeline company’s stock valued at $90,415,000 after purchasing an additional 1,187,200 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in Kinder Morgan in the second quarter valued at about $20,575,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on KMI shares. Bank of America started coverage on Kinder Morgan in a report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price target for the company. Truist Financial increased their price target on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Stifel Nicolaus upped their price objective on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. UBS Group upped their price objective on Kinder Morgan from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Morgan Stanley set a $26.00 price objective on Kinder Morgan in a research note on Friday, October 18th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Kinder Morgan presently has an average rating of “Moderate Buy” and a consensus price target of $25.67.

Insider Buying and Selling at Kinder Morgan

In other news, President Thomas A. Martin sold 19,121 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the sale, the president now owns 897,652 shares in the company, valued at $23,590,294.56. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director C Park Shaper sold 690,142 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $24.75, for a total value of $17,081,014.50. Following the completion of the sale, the director now owns 6,809,858 shares of the company’s stock, valued at $168,543,985.50. The trade was a 9.20 % decrease in their position. The disclosure for this sale can be found here. 12.81% of the stock is currently owned by corporate insiders.

Kinder Morgan Stock Down 0.1 %

Shares of Kinder Morgan stock opened at $28.07 on Thursday. Kinder Morgan, Inc. has a twelve month low of $16.47 and a twelve month high of $28.81. The stock has a market capitalization of $62.36 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 4.01 and a beta of 0.91. The business’s 50 day simple moving average is $24.95 and its 200-day simple moving average is $22.01. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data 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). The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. Equities research analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Thursday, October 31st. Kinder Morgan’s payout ratio is currently 100.88%.

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.