Cornerstone Wealth Management LLC Sells 3,387 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Cornerstone Wealth Management LLC cut its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 8.6% during the 4th quarter, HoldingsChannel reports. The firm owned 35,965 shares of the pipeline company’s stock after selling 3,387 shares during the period. Cornerstone Wealth Management LLC’s holdings in Kinder Morgan were worth $985,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in KMI. Barclays PLC boosted its position in shares of Kinder Morgan by 39.9% during the third quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock valued at $180,833,000 after purchasing an additional 2,334,273 shares in the last quarter. National Bank of Canada FI raised its stake in Kinder Morgan by 295.5% during the third quarter. National Bank of Canada FI now owns 2,937,055 shares of the pipeline company’s stock valued at $64,879,000 after buying an additional 2,194,489 shares during the last quarter. International Assets Investment Management LLC raised its stake in Kinder Morgan by 1,849.7% during the third quarter. International Assets Investment Management LLC now owns 2,164,637 shares of the pipeline company’s stock valued at $47,817,000 after buying an additional 2,053,612 shares during the last quarter. Retirement Systems of Alabama raised its stake in Kinder Morgan by 295.2% during the third quarter. Retirement Systems of Alabama now owns 1,683,356 shares of the pipeline company’s stock valued at $37,185,000 after buying an additional 1,257,428 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Kinder Morgan by 30.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,007,857 shares of the pipeline company’s stock valued at $88,534,000 after buying an additional 932,469 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors.

Insider Activity at Kinder Morgan

In other news, Director Amy W. Chronis purchased 2,241 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was bought at an average cost of $24.89 per share, with a total value of $55,778.49. Following the completion of the purchase, the director now owns 23,995 shares in the company, valued at approximately $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $27.91, for a total value of $502,380.00. Following the sale, the president now owns 861,652 shares in the company, valued at approximately $24,048,707.32. This trade represents a 2.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,121 shares of company stock valued at $1,497,000. Insiders own 12.64% of the company’s stock.

Kinder Morgan Stock Performance

NYSE KMI opened at $30.23 on Friday. The firm has a market cap of $67.16 billion, a price-to-earnings ratio of 25.84, a price-to-earnings-growth ratio of 4.13 and a beta of 0.94. The company has a quick ratio of 0.35, a current ratio of 0.46 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $27.97 and a 200-day moving average price of $24.37. Kinder Morgan, Inc. has a twelve month low of $16.47 and a twelve month high of $31.48.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Kinder Morgan had a net margin of 17.31% and a return on equity of 8.10%. As a group, equities research analysts predict that Kinder Morgan, Inc. will post 1.27 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Monday, February 3rd. Kinder Morgan’s payout ratio is presently 98.29%.

Analyst Ratings Changes

KMI has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on Kinder Morgan from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. Bank of America started coverage on Kinder Morgan in a research note on Thursday, October 17th. They set a “buy” rating and a $27.00 price objective for the company. Truist Financial boosted their price target on Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday. Mizuho upped their price objective on Kinder Morgan from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Barclays upped their price objective on Kinder Morgan from $27.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.92.

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.