Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board cut its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 62.8% during the 2nd quarter, Holdings Channel reports. The firm owned 336,226 shares of the pipeline company’s stock after selling 567,828 shares during the period. Public Sector Pension Investment Board’s holdings in Kinder Morgan were worth $6,681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Estabrook Capital Management lifted its holdings in Kinder Morgan by 78.1% in the 2nd quarter. Estabrook Capital Management now owns 67,263 shares of the pipeline company’s stock valued at $1,337,000 after acquiring an additional 29,500 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Kinder Morgan by 25.5% during the second quarter. EverSource Wealth Advisors LLC now owns 9,497 shares of the pipeline company’s stock valued at $201,000 after purchasing an additional 1,931 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in Kinder Morgan during the second quarter worth approximately $2,561,000. Frank Rimerman Advisors LLC boosted its holdings in Kinder Morgan by 8,425.6% during the second quarter. Frank Rimerman Advisors LLC now owns 88,240 shares of the pipeline company’s stock worth $1,753,000 after buying an additional 87,205 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Kinder Morgan by 4.5% in the second quarter. ProShare Advisors LLC now owns 540,050 shares of the pipeline company’s stock worth $10,731,000 after buying an additional 23,039 shares during the last quarter. Institutional investors own 62.52% of the company’s stock.

Analyst Ratings Changes

KMI has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on Kinder Morgan from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. UBS Group increased their price target on Kinder Morgan from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley upgraded Kinder Morgan from an “underweight” rating to an “equal weight” rating and set a $24.00 price objective on the stock in a report on Monday, September 16th. Argus raised shares of Kinder Morgan from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday, July 19th. Finally, Truist Financial lifted 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. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.55.

Insider Transactions at Kinder Morgan

In related news, VP Sital K. Mody sold 25,169 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.04, for a total value of $529,555.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Kinder Morgan news, VP Sital K. Mody sold 25,169 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $21.04, for a total transaction of $529,555.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Dax Sanders sold 1,729 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 307,409 shares in the company, valued at $6,455,589. The disclosure for this sale can be found here. In the last three months, insiders sold 148,311 shares of company stock valued at $3,121,891. Company insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Performance

Shares of NYSE KMI opened at $22.21 on Wednesday. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $22.33. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 0.90. The company has a market cap of $49.29 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.90 and a beta of 0.93. The business’s 50 day moving average is $21.24 and its two-hundred day moving average is $19.80.

Kinder Morgan (NYSE:KMI) last released its 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). The firm had revenue of $3.57 billion for the quarter, compared to analyst estimates of $4.13 billion. Kinder Morgan had a return on equity of 7.89% and a net margin of 15.93%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. On average, equities analysts expect that Kinder Morgan, Inc. will post 1.19 EPS for the current year.

Kinder Morgan Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date was Wednesday, July 31st. Kinder Morgan’s dividend payout ratio is 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.