Kinder Morgan, Inc. (NYSE:KMI) Shares Acquired by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. boosted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,150 shares of the pipeline company’s stock after acquiring an additional 500 shares during the quarter. Kinder Morgan comprises 1.5% of Pinnacle West Asset Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Pinnacle West Asset Management Inc.’s holdings in Kinder Morgan were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jackson Wealth Management LLC purchased a new position in Kinder Morgan during the 3rd quarter valued at about $2,638,000. Impact Partnership Wealth LLC purchased a new stake in Kinder Morgan during the 3rd quarter worth $217,000. Grimes & Company Inc. raised its holdings in Kinder Morgan by 6.6% in the third quarter. Grimes & Company Inc. now owns 13,410 shares of the pipeline company’s stock valued at $296,000 after acquiring an additional 832 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its stake in Kinder Morgan by 3.7% during the third quarter. Beese Fulmer Investment Management Inc. now owns 27,693 shares of the pipeline company’s stock valued at $612,000 after buying an additional 1,000 shares in the last quarter. Finally, Keene & Associates Inc. boosted its holdings in shares of Kinder Morgan by 0.6% in the 3rd quarter. Keene & Associates Inc. now owns 173,885 shares of the pipeline company’s stock valued at $3,841,000 after buying an additional 1,110 shares during the period. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KMI. Scotiabank upped their price target on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Bank of America started coverage on shares of Kinder Morgan in a research note on Thursday, October 17th. They set a “buy” rating and a $27.00 target price for the company. Barclays upped their price target on Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. JPMorgan Chase & Co. boosted their target price on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Truist Financial raised their target price on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.91.

Kinder Morgan Stock Performance

NYSE KMI traded up $0.16 during midday trading on Thursday, hitting $24.93. The company had a trading volume of 4,915,222 shares, compared to its average volume of 13,772,340. The firm has a fifty day simple moving average of $22.35 and a two-hundred day simple moving average of $20.61. Kinder Morgan, Inc. has a fifty-two week low of $15.91 and a fifty-two week 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. The stock has a market cap of $55.33 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 3.27 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last released 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 firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $4.05 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Equities analysts forecast that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Thursday, October 31st. Kinder Morgan’s dividend payout ratio is 104.55%.

Insiders Place Their Bets

In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.04, for a total transaction of $529,555.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the transaction, the president now owns 916,773 shares in the company, valued at $19,261,400.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 817,040 shares of company stock worth $19,747,879 over the last three months. 12.64% of the stock is currently owned by corporate insiders.

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.