Kentucky Retirement Systems Sells 1,356 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Kentucky Retirement Systems cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,503 shares of the pipeline company’s stock after selling 1,356 shares during the quarter. Kentucky Retirement Systems’ holdings in Kinder Morgan were worth $2,891,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management purchased a new stake in shares of Kinder Morgan in the 1st quarter worth about $8,818,000. Brevan Howard Capital Management LP purchased a new stake in shares of Kinder Morgan in the 4th quarter worth about $2,101,000. Duality Advisers LP grew its position in shares of Kinder Morgan by 42.7% in the 1st quarter. Duality Advisers LP now owns 317,425 shares of the pipeline company’s stock worth $5,822,000 after buying an additional 94,984 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Kinder Morgan by 221.3% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 251,635 shares of the pipeline company’s stock worth $4,615,000 after buying an additional 173,313 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Kinder Morgan by 6.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 2,545,943 shares of the pipeline company’s stock worth $46,726,000 after buying an additional 144,687 shares during the period. 62.52% of the stock is currently owned by institutional investors.

Insider Transactions at Kinder Morgan

In other news, President Thomas A. Martin sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the transaction, the president now owns 916,773 shares in the company, valued at approximately $19,261,400.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $21.01, for a total transaction of $2,101,000.00. Following the sale, the president now owns 916,773 shares in the company, valued at approximately $19,261,400.73. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Dax Sanders sold 1,729 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction of $36,309.00. Following the sale, the vice president now owns 307,409 shares in the company, valued at approximately $6,455,589. The disclosure for this sale can be found here. Insiders have sold 148,311 shares of company stock worth $3,121,891 in the last quarter. Company insiders own 12.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KMI. Scotiabank upped their target price on shares of Kinder Morgan from $19.00 to $21.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 17th. Wells Fargo & Company raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $22.00 in a research report on Tuesday, June 4th. Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Truist Financial increased their price objective on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Barclays increased their price objective on shares of Kinder Morgan from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. Nine 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 stock. According to data from MarketBeat, Kinder Morgan has an average rating of “Hold” and a consensus target price of $22.55.

Kinder Morgan Stock Performance

Shares of NYSE KMI opened at $21.59 on Friday. The firm’s 50-day moving average price is $21.13 and its 200-day moving average price is $19.68. 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 company has a market cap of $47.92 billion, a PE ratio of 19.63, a PEG ratio of 2.90 and a beta of 0.93. Kinder Morgan, Inc. has a 52-week low of $15.89 and a 52-week high of $21.86.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings data 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 return on equity of 7.89% and a net margin of 15.93%. The business had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter last year, the company earned $0.24 EPS. Kinder Morgan’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts anticipate that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Wednesday, July 31st. Kinder Morgan’s dividend payout ratio (DPR) is presently 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.