OLD Point Trust & Financial Services N A Decreases Stock Holdings in Kinder Morgan, Inc. (NYSE:KMI)

OLD Point Trust & Financial Services N A trimmed its position in shares of Kinder Morgan, Inc. (NYSE:KMIFree Report) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 241,045 shares of the pipeline company’s stock after selling 7,400 shares during the quarter. Kinder Morgan comprises about 1.7% of OLD Point Trust & Financial Services N A’s investment portfolio, making the stock its 22nd largest holding. OLD Point Trust & Financial Services N A’s holdings in Kinder Morgan were worth $4,252,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Independent Advisor Alliance lifted its position in shares of Kinder Morgan by 13.8% during the fourth quarter. Independent Advisor Alliance now owns 65,100 shares of the pipeline company’s stock valued at $1,148,000 after buying an additional 7,912 shares during the last quarter. Gotham Asset Management LLC raised its position in shares of Kinder Morgan by 11.3% in the 3rd quarter. Gotham Asset Management LLC now owns 533,348 shares of the pipeline company’s stock valued at $8,843,000 after purchasing an additional 54,184 shares during the last quarter. Teza Capital Management LLC raised its position in shares of Kinder Morgan by 190.9% in the 3rd quarter. Teza Capital Management LLC now owns 527,280 shares of the pipeline company’s stock valued at $8,742,000 after purchasing an additional 346,000 shares during the last quarter. Rheos Capital Works Inc. raised its position in shares of Kinder Morgan by 285.7% in the 4th quarter. Rheos Capital Works Inc. now owns 1,080,000 shares of the pipeline company’s stock valued at $19,051,000 after purchasing an additional 800,000 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of Kinder Morgan by 9.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,032,483 shares of the pipeline company’s stock valued at $18,265,000 after purchasing an additional 89,312 shares during the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kinder Morgan

In other news, VP Dax Sanders sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total transaction of $987,500.00. Following the sale, the vice president now owns 259,069 shares of the company’s stock, valued at approximately $5,116,612.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Dax Sanders sold 50,000 shares of Kinder Morgan stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $19.75, for a total value of $987,500.00. Following the sale, the vice president now owns 259,069 shares of the company’s stock, valued at approximately $5,116,612.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael C. Morgan sold 230,000 shares of Kinder Morgan 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 completion of the sale, the director now directly owns 345,087 shares in the company, valued at approximately $6,494,537.34. The disclosure for this sale can be found here. Corporate insiders own 12.64% of the company’s stock.

Wall Street Analyst Weigh In

KMI has been the subject of several research analyst reports. Truist Financial reaffirmed a “hold” rating and issued a $20.00 price objective (down from $22.00) on shares of Kinder Morgan in a research report on Monday, March 25th. StockNews.com lowered shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Tudor Pickering raised shares of Kinder Morgan to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $22.00 in a research report on Tuesday. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Check Out Our Latest Stock Report on Kinder Morgan

Kinder Morgan Stock Performance

KMI traded down $0.19 during trading on Friday, reaching $19.62. 9,188,943 shares of the company’s stock were exchanged, compared to its average volume of 11,522,964. Kinder Morgan, Inc. has a 1 year low of $15.89 and a 1 year high of $19.93. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.38. The stock has a market capitalization of $43.54 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 3.13 and a beta of 0.92. The company’s fifty day simple moving average is $18.86 and its 200-day simple moving average is $17.98.

Kinder Morgan (NYSE:KMIGet Free Report) last posted its quarterly earnings results on Wednesday, April 17th. The pipeline company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $3.84 billion during the quarter, compared to analyst estimates 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 last year, the firm posted $0.30 EPS. As a group, research analysts predict that Kinder Morgan, Inc. will post 1.18 earnings per share for the current fiscal year.

Kinder Morgan Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th were paid a dividend of $0.2875 per share. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 5.86%. Kinder Morgan’s dividend payout ratio (DPR) is presently 104.55%.

Kinder Morgan Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kinder Morgan (NYSE:KMI)

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