Kinder Morgan, Inc. (NYSE:KMI) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 3.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,638,639 shares of the pipeline company’s stock after selling 124,200 shares during the period. California Public Employees Retirement System’s holdings in Kinder Morgan were worth $64,186,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of KMI. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Kinder Morgan in the third quarter valued at $99,908,000. Invesco Ltd. lifted its holdings in shares of Kinder Morgan by 29.4% in the third quarter. Invesco Ltd. now owns 21,438,556 shares of the pipeline company’s stock valued at $355,451,000 after purchasing an additional 4,870,444 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of Kinder Morgan by 2,463.8% in the third quarter. Bank of Nova Scotia now owns 4,443,792 shares of the pipeline company’s stock valued at $73,678,000 after purchasing an additional 4,270,461 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Kinder Morgan by 1,121.4% in the third quarter. Qube Research & Technologies Ltd now owns 3,965,614 shares of the pipeline company’s stock valued at $65,750,000 after purchasing an additional 3,640,939 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in shares of Kinder Morgan by 68.6% in the third quarter. Kayne Anderson Capital Advisors LP now owns 5,696,090 shares of the pipeline company’s stock valued at $94,441,000 after purchasing an additional 2,317,197 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Trading Down 0.1 %

NYSE KMI opened at $18.80 on Friday. Kinder Morgan, Inc. has a 1-year low of $15.89 and a 1-year high of $18.92. The company has a current ratio of 0.50, a quick ratio of 0.28 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $41.72 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 5.31 and a beta of 0.90. The firm’s fifty day simple moving average is $17.95 and its 200-day simple moving average is $17.46.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.36 billion. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. Kinder Morgan’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 earnings per share. As a group, sell-side analysts anticipate that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 6.12%. This is an increase from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, April 29th. Kinder Morgan’s dividend payout ratio is presently 102.73%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com lowered Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial reaffirmed a “hold” rating and issued a $20.00 price target (down from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.20.

Insiders Place Their Bets

In other Kinder Morgan news, Director Michael C. Morgan sold 230,000 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the transaction, the director now directly owns 345,087 shares of the company’s stock, valued at $6,494,537.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.64% of the company’s stock.

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.