Kentucky Retirement Systems Insurance Trust Fund Reduces Position in Kinder Morgan, Inc. (NYSE:KMI)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,817 shares of the pipeline company’s stock after selling 5,077 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kinder Morgan were worth $1,170,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC lifted its stake in Kinder Morgan by 3,655.3% in the fourth quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 1,389 shares during the period. Altshuler Shaham Ltd purchased a new stake in Kinder Morgan in the fourth quarter worth $26,000. Activest Wealth Management purchased a new stake in Kinder Morgan in the fourth quarter worth $30,000. OFI Invest Asset Management purchased a new stake in Kinder Morgan in the first quarter worth $31,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Kinder Morgan in the first quarter worth $31,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Activity

In other news, VP Dax Sanders sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the transaction, the vice president now directly owns 259,069 shares in the company, valued at $5,116,612.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Sital K. Mody sold 21,413 shares of Kinder Morgan 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 in the company, valued at approximately $534,841.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the sale, the vice president now owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The disclosure for this sale can be found here. Corporate insiders own 12.64% of the company’s stock.

Analysts Set New Price Targets

KMI has been the subject of a number of research analyst reports. UBS Group raised their price target on Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Argus raised Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Friday, July 19th. Tudor Pickering raised Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Truist Financial raised their price objective on Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $18.00 to $22.00 in a research report on Tuesday, June 4th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.25.

Kinder Morgan Stock Down 0.9 %

Shares of NYSE:KMI traded down $0.19 on Monday, hitting $21.18. 3,972,346 shares of the company traded hands, compared to its average volume of 14,129,564. Kinder Morgan, Inc. has a 52 week low of $15.89 and a 52 week high of $21.86. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90. The stock has a 50 day simple moving average of $19.96 and a 200-day simple moving average of $18.61. The company has a market cap of $47.01 billion, a PE ratio of 19.30, a PEG ratio of 2.90 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. Kinder Morgan’s revenue was up 2.0% compared to the same quarter last year. As a group, research analysts expect that Kinder Morgan, Inc. will post 1.23 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st will be issued a dividend of $0.2875 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.15 annualized dividend and a dividend yield of 5.43%. Kinder Morgan’s payout ratio is presently 104.55%.

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.