Spirit of America Management Corp NY Sells 20,250 Shares of Kinder Morgan, Inc. $KMI

Spirit of America Management Corp NY reduced its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 244,994 shares of the pipeline company’s stock after selling 20,250 shares during the quarter. Kinder Morgan accounts for about 1.4% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 12th largest holding. Spirit of America Management Corp NY’s holdings in Kinder Morgan were worth $6,735,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Kinder Morgan by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 208,116,318 shares of the pipeline company’s stock valued at $5,891,773,000 after purchasing an additional 896,837 shares in the last quarter. Orbis Allan Gray Ltd increased its stake in Kinder Morgan by 3.1% during the 2nd quarter. Orbis Allan Gray Ltd now owns 22,635,179 shares of the pipeline company’s stock worth $665,474,000 after purchasing an additional 670,856 shares in the last quarter. Invesco Ltd. raised its holdings in Kinder Morgan by 1.0% during the 3rd quarter. Invesco Ltd. now owns 22,165,368 shares of the pipeline company’s stock worth $627,502,000 after buying an additional 216,039 shares during the period. Dimensional Fund Advisors LP raised its holdings in Kinder Morgan by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 16,551,759 shares of the pipeline company’s stock worth $468,588,000 after buying an additional 205,820 shares during the period. Finally, Legal & General Group Plc lifted its stake in Kinder Morgan by 1.4% in the third quarter. Legal & General Group Plc now owns 15,878,898 shares of the pipeline company’s stock valued at $449,532,000 after buying an additional 213,741 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on KMI shares. Stifel Nicolaus upped their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the company a “hold” rating in a report on Friday, March 13th. Mizuho raised their price objective on shares of Kinder Morgan from $31.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, March 5th. Truist Financial assumed coverage on shares of Kinder Morgan in a research report on Tuesday, March 24th. They issued a “hold” rating and a $38.00 price objective on the stock. Wells Fargo & Company increased their target price on Kinder Morgan from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Finally, TD Cowen lifted their price target on Kinder Morgan from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.33.

Insider Activity

In related news, VP John W. Schlosser sold 6,166 shares of Kinder Morgan stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $33.67, for a total value of $207,609.22. Following the sale, the vice president owned 188,872 shares of the company’s stock, valued at approximately $6,359,320.24. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Anthony B. Ashley sold 8,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $31.95, for a total value of $255,600.00. Following the sale, the vice president owned 100,146 shares in the company, valued at $3,199,664.70. The trade was a 7.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 48,048 shares of company stock worth $1,469,863. 12.73% of the stock is currently owned by company insiders.

Kinder Morgan Price Performance

Shares of KMI opened at $33.61 on Tuesday. The stock has a market capitalization of $74.78 billion, a P/E ratio of 24.54, a P/E/G ratio of 3.12 and a beta of 0.68. Kinder Morgan, Inc. has a twelve month low of $23.94 and a twelve month high of $34.73. The company has a 50 day moving average of $32.08 and a 200-day moving average of $28.90. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, January 21st. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Kinder Morgan had a net margin of 18.04% and a return on equity of 9.02%. The company had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 2nd were paid a $0.2925 dividend. This represents a $1.17 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, February 2nd. Kinder Morgan’s payout ratio is presently 85.40%.

Kinder Morgan Company Profile

Kinder Morgan (NYSE: KMI) is a large energy infrastructure company that owns and operates an extensive network of pipelines and terminals across North America. Its core activities center on the transportation, storage and handling of energy products, including natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products and carbon dioxide. The company’s assets include long-haul and gathering pipelines, storage facilities, and multi-modal terminals that serve producers, refiners, utilities and industrial customers.

Kinder Morgan’s operations deliver midstream services such as pipeline transportation, terminaling, storage and related logistics and maintenance.