Acadian Asset Management LLC Grows Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Acadian Asset Management LLC increased its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 242.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 162,411 shares of the pipeline company’s stock after purchasing an additional 114,974 shares during the quarter. Acadian Asset Management LLC’s holdings in Kinder Morgan were worth $3,223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 27,254,172 shares during the last quarter. Norges Bank acquired a new stake in shares of Kinder Morgan during the fourth quarter valued at about $409,063,000. Clearbridge Investments LLC lifted its holdings in shares of Kinder Morgan by 23.6% in the 1st quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock worth $204,319,000 after acquiring an additional 2,125,648 shares during the last quarter. Energy Income Partners LLC lifted its holdings in shares of Kinder Morgan by 2.6% in the 1st quarter. Energy Income Partners LLC now owns 10,717,452 shares of the pipeline company’s stock worth $196,558,000 after acquiring an additional 272,648 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its holdings in Kinder Morgan by 45.9% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 9,959,947 shares of the pipeline company’s stock valued at $182,665,000 after purchasing an additional 3,135,457 shares during the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Kinder Morgan Price Performance

Kinder Morgan stock opened at $20.94 on Friday. The stock has a market cap of $46.47 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.94 and a beta of 0.93. The company has a fifty day simple moving average of $20.98 and a 200-day simple moving average of $19.54. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90. Kinder Morgan, Inc. has a 12-month low of $15.89 and a 12-month high of $21.86.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share (EPS) 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 analysts’ expectations of $4.13 billion. During the same period last year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts expect that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Wednesday, July 31st were issued a dividend of $0.2875 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.15 dividend on an annualized basis and a yield of 5.49%. Kinder Morgan’s payout ratio is currently 104.55%.

Analysts Set New Price Targets

KMI has been the subject of several research analyst reports. Royal Bank of Canada raised their price target on Kinder Morgan from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 30th. Truist Financial lifted their target price on Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $22.00 in a research note on Tuesday, June 4th. Finally, Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Friday, July 19th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.30.

Insider Transactions at Kinder Morgan

In related news, VP Dax Sanders sold 1,729 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.00, for a total value of $36,309.00. Following the transaction, the vice president now directly owns 307,409 shares of the company’s stock, valued at approximately $6,455,589. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Sital K. Mody sold 21,413 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $21.25, for a total value of $455,026.25. Following the completion of the sale, the vice president now directly owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Dax Sanders sold 1,729 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total value of $36,309.00. Following the transaction, the vice president now directly owns 307,409 shares in the company, valued at approximately $6,455,589. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,311 shares of company stock worth $3,121,891. 12.64% of the stock is currently owned by insiders.

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.