138,450 Shares in Kinder Morgan, Inc. (NYSE:KMI) Bought by Norden Group LLC

Norden Group LLC acquired a new position in Kinder Morgan, Inc. (NYSE:KMI) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 138,450 shares of the pipeline company’s stock, valued at approximately $2,539,000.

Several other hedge funds have also bought and sold shares of KMI. Adage Capital Partners GP L.L.C. grew its holdings in Kinder Morgan by 19.2% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,627,354 shares of the pipeline company’s stock valued at $26,982,000 after purchasing an additional 262,300 shares during the period. Lido Advisors LLC boosted its stake in shares of Kinder Morgan by 29.5% in the third quarter. Lido Advisors LLC now owns 29,865 shares of the pipeline company’s stock worth $495,000 after acquiring an additional 6,797 shares during the period. Schroder Investment Management Group boosted its stake in shares of Kinder Morgan by 20.7% in the third quarter. Schroder Investment Management Group now owns 308,985 shares of the pipeline company’s stock worth $5,123,000 after acquiring an additional 52,920 shares during the period. Royal London Asset Management Ltd. boosted its stake in shares of Kinder Morgan by 100.5% in the third quarter. Royal London Asset Management Ltd. now owns 2,309,895 shares of the pipeline company’s stock worth $38,310,000 after acquiring an additional 1,157,781 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Kinder Morgan by 2.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,895,321 shares of the pipeline company’s stock worth $48,004,000 after acquiring an additional 82,666 shares during the period. Institutional investors own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group upped their price objective on Kinder Morgan from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Wells Fargo & Company raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $18.00 to $22.00 in a research note on Tuesday, June 4th. Truist Financial reiterated a “hold” rating and issued a $20.00 target price (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. Finally, Tudor Pickering upgraded Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Kinder Morgan currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Insider Buying and Selling at Kinder Morgan

In other Kinder Morgan news, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the sale, the vice president now directly owns 259,069 shares in the company, valued at $5,116,612.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Dax Sanders sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $19.75, for a total transaction of $987,500.00. Following the transaction, the vice president now owns 259,069 shares of the company’s stock, valued at $5,116,612.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael C. Morgan sold 230,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 345,087 shares in the company, valued at approximately $6,494,537.34. The disclosure for this sale can be found here. Company insiders own 12.81% of the company’s stock.

Kinder Morgan Price Performance

NYSE:KMI opened at $19.96 on Friday. 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 capitalization of $44.30 billion, a P/E ratio of 18.15, a P/E/G ratio of 3.15 and a beta of 0.93. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $20.19. The business’s 50-day moving average is $19.38 and its 200 day moving average is $18.27.

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

Kinder Morgan Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were given a dividend of $0.2875 per share. The ex-dividend date was Monday, April 29th. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 dividend on an annualized basis and a yield of 5.76%. Kinder Morgan’s dividend payout ratio is 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.