Valley National Advisers Inc. Decreases Stake in Kinder Morgan, Inc. (NYSE:KMI)

Valley National Advisers Inc. cut its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 25.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,442 shares of the pipeline company’s stock after selling 1,886 shares during the period. Valley National Advisers Inc.’s holdings in Kinder Morgan were worth $99,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Kinder Morgan by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,187,667 shares of the pipeline company’s stock worth $506,320,000 after acquiring an additional 317,980 shares during the period. Norges Bank purchased a new stake in Kinder Morgan during the 4th quarter valued at $409,063,000. Morgan Stanley lifted its holdings in shares of Kinder Morgan by 4.1% during the 3rd quarter. Morgan Stanley now owns 20,400,093 shares of the pipeline company’s stock valued at $338,234,000 after buying an additional 796,829 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Kinder Morgan by 16.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,387,752 shares of the pipeline company’s stock worth $289,087,000 after acquiring an additional 2,309,550 shares during the period. Finally, Clearbridge Investments LLC increased its position in Kinder Morgan by 1.9% during the fourth quarter. Clearbridge Investments LLC now owns 9,004,991 shares of the pipeline company’s stock valued at $158,807,000 after acquiring an additional 169,867 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on KMI. Wells Fargo & Company raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $22.00 in a research report on Tuesday, June 4th. Truist Financial reissued a “hold” rating and issued a $20.00 price objective (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. UBS Group increased their price target on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Finally, Tudor Pickering raised shares of 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 issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Kinder Morgan has an average rating of “Moderate Buy” and an average target price of $21.00.

Insider Transactions at Kinder Morgan

In related news, Director Michael C. Morgan sold 230,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were 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 $6,494,537.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan 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 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 SEC, which is available through the SEC website. Also, VP Dax Sanders sold 50,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were 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 in the company, valued at approximately $5,116,612.75. The disclosure for this sale can be found here. Insiders own 12.81% of the company’s stock.

Kinder Morgan Price Performance

Shares of KMI traded up $0.24 during trading hours on Wednesday, reaching $19.96. 11,016,114 shares of the stock traded hands, compared to its average volume of 13,698,746. Kinder Morgan, Inc. has a 52-week low of $15.89 and a 52-week high of $20.19. 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 cap of $44.30 billion, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 3.14 and a beta of 0.93. The company’s 50-day moving average price is $19.36 and its two-hundred day moving average price is $18.26.

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

Kinder Morgan Increases Dividend

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

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.