Michael C. Morgan Sells 230,000 Shares of Kinder Morgan, Inc. (NYSE:KMI) Stock

Kinder Morgan, Inc. (NYSE:KMI) Director Michael C. Morgan sold 230,000 shares of Kinder Morgan stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the sale, 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 legal filing with the SEC, which is accessible through this hyperlink.

Kinder Morgan Trading Up 0.3 %

Kinder Morgan stock traded up $0.05 during mid-day trading on Wednesday, hitting $18.81. The company’s stock had a trading volume of 12,485,494 shares, compared to its average volume of 14,267,062. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.28. The stock has a market cap of $41.75 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 5.32 and a beta of 0.90. The business has a 50 day moving average price of $17.91 and a 200-day moving average price of $17.45. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $18.92.

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 the consensus estimate of $0.34. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts forecast that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be given a $0.2875 dividend. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.11%. Kinder Morgan’s payout ratio is presently 104.55%.

Hedge Funds Weigh In On Kinder Morgan

Hedge funds have recently modified their holdings of the company. Tucker Asset Management LLC purchased a new position in shares of Kinder Morgan during the third quarter valued at about $25,000. True Wealth Design LLC increased its position in shares of Kinder Morgan by 3,655.3% during the fourth quarter. True Wealth Design LLC now owns 1,427 shares of the pipeline company’s stock valued at $25,000 after buying an additional 1,389 shares during the period. Hartford Financial Management Inc. purchased a new position in shares of Kinder Morgan during the third quarter valued at about $26,000. Altshuler Shaham Ltd purchased a new position in shares of Kinder Morgan during the fourth quarter valued at about $26,000. Finally, Activest Wealth Management purchased a new position in shares of Kinder Morgan during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Wall Street Analyst Weigh In

KMI has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial reaffirmed a “hold” rating and set a $20.00 price objective (down from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.20.

About Kinder Morgan

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.