Norden Group LLC Takes $2.54 Million Position in Kinder Morgan, Inc. (NYSE:KMI)

Norden Group LLC acquired a new stake in Kinder Morgan, Inc. (NYSE:KMI) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 138,450 shares of the pipeline company’s stock, valued at approximately $2,539,000.

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

Kinder Morgan Trading Up 1.2 %

NYSE KMI opened at $19.96 on Friday. The company has a market cap of $44.30 billion, a PE ratio of 18.15, a PEG ratio of 3.15 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 12 month low of $15.89 and a 12 month high of $20.19. The stock has a 50 day moving average of $19.38 and a 200-day moving average of $18.27.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

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

Wall Street Analyst Weigh In

KMI has been the subject of several research analyst reports. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $18.00 to $22.00 in a research report on Tuesday, June 4th. UBS Group upped their price target on Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Truist Financial reaffirmed a “hold” rating and set a $20.00 price target (down previously from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Activity at Kinder Morgan

In related news, Director Michael C. Morgan sold 230,000 shares of the 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 owns 345,087 shares in the company, valued at approximately $6,494,537.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Kinder Morgan news, VP Dax Sanders sold 50,000 shares of the 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 transaction, the vice president now owns 259,069 shares in the company, valued at approximately $5,116,612.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael C. Morgan sold 230,000 shares of the 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 transaction, the director now owns 345,087 shares in the company, valued at approximately $6,494,537.34. The disclosure for this sale can be found here. 12.81% of the stock is owned by company 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.