ICA Group Wealth Management LLC Reduces Position in Kinder Morgan, Inc. (NYSE:KMI)

ICA Group Wealth Management LLC trimmed its position in Kinder Morgan, Inc. (NYSE:KMI) by 82.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,512 shares of the pipeline company’s stock after selling 16,012 shares during the period. ICA Group Wealth Management LLC’s holdings in Kinder Morgan were worth $70,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Kinder Morgan by 15.8% in 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. Norges Bank acquired a new stake in shares of Kinder Morgan in the fourth quarter worth $409,063,000. Confluence Investment Management LLC purchased a new position in shares of Kinder Morgan during the first quarter worth $87,627,000. Castle Hook Partners LP boosted its holdings in Kinder Morgan by 108.2% in the first quarter. Castle Hook Partners LP now owns 7,799,826 shares of the pipeline company’s stock valued at $143,049,000 after purchasing an additional 4,053,793 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its position in Kinder Morgan by 45.9% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock worth $182,665,000 after purchasing an additional 3,135,457 shares during the period. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Buying and Selling

In other Kinder Morgan news, President Thomas A. Martin sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $21.01, for a total value of $2,101,000.00. Following the completion of the sale, the president now directly owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of Kinder Morgan stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the transaction, the vice president now directly owns 25,169 shares of the company’s stock, valued at $534,841.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $2,101,000.00. Following the completion of the sale, the president now directly owns 916,773 shares of the company’s stock, valued at approximately $19,261,400.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,311 shares of company stock worth $3,121,891. 12.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

KMI has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price target on Kinder Morgan from $20.00 to $22.00 and gave the company a “sector perform” rating in a report on Tuesday, July 30th. UBS Group increased their price target on shares of Kinder Morgan from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Truist Financial lifted their price objective on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Friday, July 19th. Finally, Scotiabank lifted their price target on Kinder Morgan from $19.00 to $21.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.40.

Kinder Morgan Trading Up 1.0 %

Shares of KMI stock opened at $21.14 on Monday. Kinder Morgan, Inc. has a fifty-two week low of $15.89 and a fifty-two week high of $21.86. The firm has a market capitalization of $46.92 billion, a P/E ratio of 19.22, a PEG ratio of 2.90 and a beta of 0.93. The stock’s fifty day moving average is $21.01 and its two-hundred day moving average is $19.60. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.37.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Research analysts expect that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a $0.2875 dividend. The ex-dividend date was Wednesday, July 31st. This represents a $1.15 annualized dividend and a dividend yield of 5.44%. Kinder Morgan’s dividend payout ratio is presently 104.55%.

About Kinder Morgan

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.