Allspring Global Investments Holdings LLC Decreases Stake in Kinder Morgan, Inc. (NYSE:KMI)

Allspring Global Investments Holdings LLC lowered its position in Kinder Morgan, Inc. (NYSE:KMI) by 2.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 93,115 shares of the pipeline company’s stock after selling 2,537 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kinder Morgan were worth $1,708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KMI. Tucker Asset Management LLC purchased a new position in Kinder Morgan in the 3rd quarter valued at $25,000. True Wealth Design LLC raised its holdings in shares of Kinder Morgan by 3,655.3% during the 4th 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 position in shares of Kinder Morgan during the 4th quarter worth $26,000. Activest Wealth Management purchased a new position in shares of Kinder Morgan during the 4th quarter worth $30,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Kinder Morgan during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Up 1.2 %

Shares of NYSE:KMI opened at $19.96 on Thursday. The business has a 50-day moving average price of $19.36 and a 200 day moving average price of $18.26. The company has a current ratio of 0.50, a quick ratio of 0.38 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $44.30 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 3.14 and a beta of 0.93. Kinder Morgan, Inc. has a 12-month low of $15.89 and a 12-month high of $20.19.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. The company 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%. Kinder Morgan’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. Sell-side analysts expect that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Increases Dividend

The company 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 is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend was Monday, April 29th. Kinder Morgan’s payout ratio is currently 104.55%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KMI shares. 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. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $22.00 in a report on Tuesday, June 4th. UBS Group lifted their price target on Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Finally, Tudor Pickering raised Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Kinder Morgan currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, 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 transaction, the vice president now directly owns 259,069 shares of the company’s stock, valued at approximately $5,116,612.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan stock in a transaction dated 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 completion of the transaction, the director now owns 345,087 shares in the company, valued at approximately $6,494,537.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total value of $987,500.00. Following the completion of the transaction, the vice president now owns 259,069 shares of the company’s stock, valued at approximately $5,116,612.75. The disclosure for this sale can be found here. 12.81% of the stock is currently owned by corporate insiders.

Kinder Morgan 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.