New York Life Investment Management LLC Has $5.34 Million Stake in Kinder Morgan, Inc. (NYSE:KMI)

New York Life Investment Management LLC reduced its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 28.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 302,953 shares of the pipeline company’s stock after selling 121,319 shares during the quarter. New York Life Investment Management LLC’s holdings in Kinder Morgan were worth $5,344,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Global Wealth Management Investment Advisory Inc. grew its stake in shares of Kinder Morgan by 4.5% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 33,244 shares of the pipeline company’s stock worth $586,000 after acquiring an additional 1,437 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in Kinder Morgan by 27.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 24,461 shares of the pipeline company’s stock valued at $431,000 after purchasing an additional 5,297 shares during the last quarter. Savant Capital LLC grew its stake in Kinder Morgan by 3.9% in the fourth quarter. Savant Capital LLC now owns 89,480 shares of the pipeline company’s stock valued at $1,578,000 after purchasing an additional 3,370 shares in the last quarter. WealthTrust Axiom LLC grew its stake in shares of Kinder Morgan by 0.6% in the fourth quarter. WealthTrust Axiom LLC now owns 564,956 shares of the pipeline company’s stock valued at $9,966,000 after buying an additional 3,581 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its holdings in Kinder Morgan by 0.7% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,286,526 shares of the pipeline company’s stock worth $22,694,000 after buying an additional 9,000 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

Insider Activity

In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total value of $4,328,600.00. Following the sale, the director now directly owns 345,087 shares in the company, valued at $6,494,537.34. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Up 0.7 %

Kinder Morgan stock opened at $18.58 on Friday. The firm’s fifty day moving average is $18.07 and its 200 day moving average is $17.51. Kinder Morgan, Inc. has a 12-month low of $15.89 and a 12-month high of $18.92. The company has a market capitalization of $41.24 billion, a PE ratio of 16.89, a PEG ratio of 5.20 and a beta of 0.89. The company has a quick ratio of 0.38, a current ratio of 0.50 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. As a group, sell-side analysts predict that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be paid a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 6.19%. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, April 29th. Kinder Morgan’s payout ratio is presently 104.55%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KMI shares. StockNews.com cut shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Truist Financial reiterated a “hold” rating and set a $20.00 price target (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.20.

Kinder Morgan Company Profile

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.