State of Alaska Department of Revenue Has $4.92 Million Stake in Kinder Morgan, Inc. (NYSE:KMI)

State of Alaska Department of Revenue reduced its stake in Kinder Morgan, Inc. (NYSE:KMI) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 268,294 shares of the pipeline company’s stock after selling 16,795 shares during the period. State of Alaska Department of Revenue’s holdings in Kinder Morgan were worth $4,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. increased its holdings in Kinder Morgan by 19.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,627,354 shares of the pipeline company’s stock worth $26,982,000 after purchasing an additional 262,300 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of Kinder Morgan by 29.5% during the third quarter. Lido Advisors LLC now owns 29,865 shares of the pipeline company’s stock worth $495,000 after purchasing an additional 6,797 shares during the last quarter. Schroder Investment Management Group increased 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 valued at $5,123,000 after buying an additional 52,920 shares during the period. Royal London Asset Management Ltd. raised its holdings in Kinder Morgan by 100.5% in the 3rd quarter. Royal London Asset Management Ltd. now owns 2,309,895 shares of the pipeline company’s stock valued at $38,310,000 after buying an additional 1,157,781 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Kinder Morgan by 2.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,895,321 shares of the pipeline company’s stock worth $48,004,000 after buying an additional 82,666 shares during the period. 62.52% of the stock is owned by institutional investors.

Kinder Morgan Stock Up 1.2 %

Shares of Kinder Morgan stock opened at $19.96 on Friday. The stock’s 50-day moving average is $19.38 and its 200 day moving average is $18.27. Kinder Morgan, Inc. has a one year low of $15.89 and a one year high of $20.19. The firm has a market cap of $44.30 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 3.15 and a beta of 0.93. 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 posted its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The firm had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Kinder Morgan had a return on equity of 7.85% and a net margin of 16.08%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. Equities research analysts anticipate that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th were paid a $0.2875 dividend. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. This represents a $1.15 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend was Monday, April 29th. Kinder Morgan’s payout ratio is 104.55%.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Michael C. Morgan sold 230,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly 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 accessible through this link. In other news, VP Dax Sanders sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the completion of the sale, the vice president now directly 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 hyperlink. Also, Director Michael C. Morgan sold 230,000 shares of the company’s stock in a transaction dated 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 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 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.