Steel Grove Capital Advisors LLC Sells 22,055 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Steel Grove Capital Advisors LLC reduced its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 15.2% in the second quarter, Holdings Channel reports. The fund owned 122,692 shares of the pipeline company’s stock after selling 22,055 shares during the quarter. Kinder Morgan makes up about 0.3% of Steel Grove Capital Advisors LLC’s portfolio, making the stock its 28th biggest position. Steel Grove Capital Advisors LLC’s holdings in Kinder Morgan were worth $2,438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of KMI. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 27,254,172 shares during the period. Dimensional Fund Advisors LP boosted its stake in Kinder Morgan by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 16,904,252 shares of the pipeline company’s stock worth $335,891,000 after buying an additional 257,658 shares during the period. Clearbridge Investments LLC increased its position in Kinder Morgan by 23.6% during the first quarter. Clearbridge Investments LLC now owns 11,130,639 shares of the pipeline company’s stock valued at $204,319,000 after acquiring an additional 2,125,648 shares during the last quarter. Energy Income Partners LLC raised its stake in shares of Kinder Morgan by 2.6% in the first quarter. Energy Income Partners LLC now owns 10,717,452 shares of the pipeline company’s stock valued at $196,558,000 after acquiring an additional 272,648 shares during the period. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in shares of 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 worth $182,665,000 after acquiring an additional 3,135,457 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Kinder Morgan Price Performance

Shares of KMI stock opened at $21.79 on Monday. The stock’s 50-day moving average is $21.16 and its 200 day moving average is $19.74. Kinder Morgan, Inc. has a 1-year low of $15.89 and a 1-year high of $21.88. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. The company has a market cap of $48.36 billion, a P/E ratio of 19.81, a PEG ratio of 2.90 and a beta of 0.93.

Kinder Morgan (NYSE:KMI) last released 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 net margin of 15.93% and a return on equity of 7.89%. The firm had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Research analysts predict that Kinder Morgan, Inc. will post 1.19 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Wednesday, July 31st were issued a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend was Wednesday, July 31st. Kinder Morgan’s dividend payout ratio (DPR) is 104.55%.

Analysts Set New Price Targets

A number of research firms recently weighed in on KMI. Truist Financial increased their price objective 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. Wells Fargo & Company upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $18.00 to $22.00 in a report on Tuesday, June 4th. JPMorgan Chase & Co. raised their price target on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Morgan Stanley raised Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price objective on the stock in a research report on Monday, September 16th. Finally, Royal Bank of Canada boosted their target price on shares of Kinder Morgan from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 30th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.55.

Insider Activity at Kinder Morgan

In other Kinder Morgan news, VP Sital K. Mody sold 21,413 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total transaction of $455,026.25. Following the completion of the sale, the vice president now directly owns 25,169 shares in the company, valued at approximately $534,841.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, President Thomas A. Martin sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the president now owns 916,773 shares in the company, valued at $19,261,400.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sital K. Mody sold 21,413 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $21.25, for a total value of $455,026.25. Following the transaction, the vice president now owns 25,169 shares of the company’s stock, valued at $534,841.25. 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 over the last quarter. Insiders own 12.64% of the company’s stock.

Kinder Morgan 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.