King Luther Capital Management Corp Boosts Stake in Kinder Morgan, Inc. (NYSE:KMI)

King Luther Capital Management Corp raised its position in Kinder Morgan, Inc. (NYSE:KMI) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,706,450 shares of the pipeline company’s stock after purchasing an additional 95,728 shares during the quarter. King Luther Capital Management Corp’s holdings in Kinder Morgan were worth $53,777,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KMI. True Wealth Design LLC raised its position in Kinder Morgan by 3,655.3% in the 4th quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 1,389 shares during the period. Pathway Financial Advisers LLC purchased a new stake in Kinder Morgan in the 1st quarter worth about $30,000. OFI Invest Asset Management purchased a new stake in Kinder Morgan in the 1st quarter worth about $31,000. Redmont Wealth Advisors LLC purchased a new stake in Kinder Morgan in the 1st quarter worth about $31,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Kinder Morgan in the 2nd quarter worth about $31,000. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Price Performance

NYSE KMI opened at $21.59 on Friday. The firm’s fifty day simple moving average is $21.13 and its two-hundred day simple moving average is $19.68. The firm has a market capitalization of $47.92 billion, a P/E ratio of 19.63, a P/E/G ratio of 2.90 and a beta of 0.93. 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 earnings results on Wednesday, July 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate 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 quarter last year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts forecast that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were paid a dividend of $0.2875 per share. The ex-dividend date was Wednesday, July 31st. This represents a $1.15 annualized dividend and a yield of 5.33%. Kinder Morgan’s dividend payout ratio (DPR) is 104.55%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on KMI shares. Barclays raised their target price on shares of Kinder Morgan from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. Morgan Stanley raised shares of Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 target price on the stock in a research report on Monday. Truist Financial raised their target price on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Royal Bank of Canada raised their target price on shares of Kinder Morgan from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 30th. Finally, Stifel Nicolaus raised their target price on shares of Kinder Morgan from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.55.

Insider Buying and Selling

In related news, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Dax Sanders sold 1,729 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $21.00, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Thomas A. Martin sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.01, for a total value of $2,101,000.00. Following the sale, the president now owns 916,773 shares in the company, valued at approximately $19,261,400.73. The disclosure for this sale can be found here. Insiders have sold a total of 148,311 shares of company stock worth $3,121,891 in the last ninety days. 12.64% of the stock is 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.