Maryland State Retirement & Pension System Has $31.97 Million Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Maryland State Retirement & Pension System grew its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,806,166 shares of the pipeline company’s stock after buying an additional 30,310 shares during the period. Kinder Morgan accounts for about 0.6% of Maryland State Retirement & Pension System’s portfolio, making the stock its 29th biggest holding. Maryland State Retirement & Pension System owned approximately 0.08% of Kinder Morgan worth $31,969,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in KMI. True Wealth Design LLC boosted its position in Kinder Morgan by 3,655.3% during the fourth quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 1,389 shares during the period. Altshuler Shaham Ltd acquired a new position in Kinder Morgan in the 4th quarter valued at about $26,000. Tucker Asset Management LLC bought a new position in Kinder Morgan in the 3rd quarter valued at about $25,000. Activest Wealth Management acquired a new stake in Kinder Morgan during the fourth quarter worth approximately $30,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Kinder Morgan during the first quarter worth approximately $31,000. 62.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial reissued a “hold” rating and set a $20.00 price target (down from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $18.00 to $22.00 in a research report on Tuesday, June 4th. Finally, UBS Group boosted their price objective on shares of Kinder Morgan from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.00.

Insiders Place Their Bets

In related news, Director Michael C. Morgan sold 230,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $18.82, for a total value of $4,328,600.00. Following the completion of the transaction, the director now owns 345,087 shares of the company’s stock, valued at approximately $6,494,537.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the sale, the vice president now directly owns 259,069 shares in the company, valued at $5,116,612.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the sale, the director now owns 345,087 shares in the company, valued at $6,494,537.34. The disclosure for this sale can be found here. Insiders own 12.81% of the company’s stock.

Kinder Morgan Price Performance

KMI stock traded up $0.24 during mid-day trading on Thursday, hitting $19.96. The stock had a trading volume of 11,016,115 shares, compared to its average volume of 12,767,919. The firm has a fifty day simple moving average of $19.38 and a 200 day simple moving average of $18.27. The firm has a market capitalization of $44.30 billion, a P/E ratio of 18.15, a P/E/G ratio of 3.11 and a beta of 0.93. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 0.95. Kinder Morgan, Inc. has a 52 week low of $15.89 and a 52 week high of $20.19.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. As a group, research analysts forecast that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were given a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date was Monday, April 29th. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s payout ratio is currently 104.55%.

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.