Dearborn Partners LLC cut its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI – Free Report) by 13.9% during the third quarter, Holdings Channel reports. The firm owned 11,760 shares of the pipeline company’s stock after selling 1,892 shares during the quarter. Dearborn Partners LLC’s holdings in Kinder Morgan were worth $260,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Kinder Morgan by 15.8% during the 1st quarter. Vanguard Group Inc. now owns 199,888,911 shares of the pipeline company’s stock worth $3,665,963,000 after buying an additional 27,254,172 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Kinder Morgan by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 16,904,252 shares of the pipeline company’s stock worth $335,891,000 after acquiring an additional 257,658 shares during the period. Clearbridge Investments LLC raised its stake in shares of Kinder Morgan by 23.6% in the first quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock valued at $204,319,000 after acquiring an additional 2,125,648 shares in the last quarter. Energy Income Partners LLC boosted its holdings in Kinder Morgan by 2.6% in the first quarter. Energy Income Partners LLC now owns 10,717,452 shares of the pipeline company’s stock valued at $196,558,000 after purchasing an additional 272,648 shares during the period. Finally, First Pacific Advisors LP grew its stake in Kinder Morgan by 2.0% during the 2nd quarter. First Pacific Advisors LP now owns 8,198,954 shares of the pipeline company’s stock worth $162,913,000 after purchasing an additional 163,294 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.
Kinder Morgan Stock Up 1.9 %
Kinder Morgan stock opened at $27.27 on Friday. The company has a market capitalization of $60.58 billion, a P/E ratio of 23.92, a PEG ratio of 3.69 and a beta of 0.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.35 and a current ratio of 0.46. Kinder Morgan, Inc. has a fifty-two week low of $16.47 and a fifty-two week high of $27.58. The stock has a 50-day simple moving average of $23.72 and a 200-day simple moving average of $21.40.
Kinder Morgan Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.2875 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 annualized dividend and a dividend yield of 4.22%. Kinder Morgan’s dividend payout ratio (DPR) is 100.88%.
Insider Buying and Selling
In other news, President Thomas A. Martin sold 19,121 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the sale, the president now owns 897,652 shares in the company, valued at approximately $23,590,294.56. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Park Shaper sold 690,142 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the transaction, the director now owns 6,809,858 shares in the company, valued at approximately $168,543,985.50. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 12.64% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on KMI. Barclays lifted their price objective on Kinder Morgan from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Bank of America started coverage on shares of Kinder Morgan in a research note on Thursday, October 17th. They issued a “buy” rating and a $27.00 price target for the company. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their price objective on shares of Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Truist Financial increased their target price on Kinder Morgan from $22.00 to $25.00 and gave the company a “hold” rating in a report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.36.
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.
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