Avenir Corp Decreases Stake in Kinder Morgan, Inc. (NYSE:KMI)

Avenir Corp reduced its position in Kinder Morgan, Inc. (NYSE:KMI) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,820 shares of the pipeline company’s stock after selling 1,185 shares during the period. Kinder Morgan accounts for about 0.2% of Avenir Corp’s investment portfolio, making the stock its 25th biggest position. Avenir Corp’s holdings in Kinder Morgan were worth $2,625,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC lifted its position in shares of 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 buying an additional 1,389 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Kinder Morgan in the fourth quarter worth about $26,000. Tucker Asset Management LLC purchased a new stake in shares of Kinder Morgan in the third quarter worth about $25,000. Activest Wealth Management bought a new stake in Kinder Morgan during the fourth quarter worth approximately $30,000. Finally, Rakuten Securities Inc. bought a new stake in Kinder Morgan during the fourth quarter worth approximately $33,000. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Michael C. Morgan sold 230,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $6,494,537.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the completion of the sale, the director now owns 345,087 shares in the company, valued at $6,494,537.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total value of $987,500.00. Following the sale, 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. 12.64% of the stock is owned by insiders.

Kinder Morgan Trading Down 0.1 %

Shares of KMI traded down $0.01 during mid-day trading on Tuesday, reaching $19.79. 9,229,128 shares of the company’s stock traded hands, compared to its average volume of 13,656,184. The stock has a market cap of $43.92 billion, a P/E ratio of 17.99, a P/E/G ratio of 3.10 and a beta of 0.92. The stock’s 50-day moving average is $18.92 and its two-hundred day moving average is $18.02. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $19.93. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.38.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Kinder Morgan’s revenue was down 1.2% compared to the same quarter last year. Research analysts forecast that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th were paid a $0.2875 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.15 annualized dividend and a yield of 5.81%. 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 topic of several analyst reports. Tudor Pickering raised Kinder Morgan to a “strong-buy” rating in a research note on Thursday, May 30th. StockNews.com cut Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Wells Fargo & Company raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $22.00 in a research note on Tuesday, June 4th. Finally, Truist Financial reissued a “hold” rating and set a $20.00 price objective (down from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Kinder Morgan has a consensus rating of “Moderate Buy” and an average target price of $20.50.

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.