Rhumbline Advisers Purchases 23,092 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Rhumbline Advisers increased its position in Kinder Morgan, Inc. (NYSE:KMI) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,060,420 shares of the pipeline company’s stock after buying an additional 23,092 shares during the quarter. Rhumbline Advisers owned 0.18% of Kinder Morgan worth $80,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC lifted its holdings in shares of 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 acquiring an additional 1,389 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in Kinder Morgan in the 4th quarter worth $26,000. Pathway Financial Advisers LLC bought a new stake in Kinder Morgan in the first quarter worth $30,000. OFI Invest Asset Management purchased a new stake in Kinder Morgan during the first quarter valued at about $31,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Kinder Morgan during the first quarter valued at about $31,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Activity

In related news, VP Sital K. Mody sold 21,413 shares of Kinder Morgan 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 in the company, valued at approximately $534,841.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, President Thomas A. Martin sold 100,000 shares of Kinder Morgan stock in a transaction on 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 completion of the sale, the president now owns 916,773 shares of the company’s stock, valued at $19,261,400.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sital K. Mody sold 21,413 shares of the company’s stock in a transaction 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 sale, the vice president now owns 25,169 shares of the company’s stock, valued at approximately $534,841.25. The disclosure for this sale can be found here. Insiders have sold a total of 148,311 shares of company stock valued at $3,121,891 over the last ninety days. 12.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on KMI. Truist Financial increased their target price on Kinder Morgan from $20.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Stifel Nicolaus increased their price objective on Kinder Morgan from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Barclays lifted their target price on shares of Kinder Morgan from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Wells Fargo & Company upgraded shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $18.00 to $22.00 in a report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

Kinder Morgan Trading Down 0.0 %

Shares of NYSE KMI opened at $21.56 on Wednesday. The stock has a market cap of $47.85 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 3.00 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.37 and a quick ratio of 0.28. Kinder Morgan, Inc. has a 1 year low of $15.89 and a 1 year high of $21.86. The firm has a 50-day moving average of $20.80 and a 200 day moving average of $19.38.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data 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). The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $4.13 billion. Kinder Morgan had a net margin of 15.93% and a return on equity of 7.89%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. As a group, sell-side analysts expect that Kinder Morgan, Inc. will post 1.19 EPS for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Wednesday, July 31st were paid a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is currently 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.