Congress Wealth Management LLC DE Increases Stake in Kinder Morgan, Inc. (NYSE:KMI)

Congress Wealth Management LLC DE grew its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 2.8% in the fourth quarter, HoldingsChannel reports. The fund owned 211,986 shares of the pipeline company’s stock after purchasing an additional 5,675 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Kinder Morgan were worth $5,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. CX Institutional increased its position in Kinder Morgan by 2.3% in the fourth quarter. CX Institutional now owns 15,661 shares of the pipeline company’s stock worth $429,000 after buying an additional 354 shares in the last quarter. Sunflower Bank N.A. grew its stake in shares of Kinder Morgan by 3.6% during the 4th quarter. Sunflower Bank N.A. now owns 10,503 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 367 shares during the period. Ignite Planners LLC increased its holdings in Kinder Morgan by 3.9% in the 4th quarter. Ignite Planners LLC now owns 9,992 shares of the pipeline company’s stock worth $282,000 after acquiring an additional 372 shares in the last quarter. Eagle Bay Advisors LLC lifted its holdings in Kinder Morgan by 8.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 5,182 shares of the pipeline company’s stock valued at $142,000 after purchasing an additional 385 shares in the last quarter. Finally, Bristlecone Advisors LLC increased its stake in shares of Kinder Morgan by 2.6% in the fourth quarter. Bristlecone Advisors LLC now owns 15,794 shares of the pipeline company’s stock worth $433,000 after purchasing an additional 400 shares in the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KMI. Barclays raised shares of Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price target on the stock in a research note on Monday, March 3rd. Wells Fargo & Company increased their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Scotiabank began coverage on Kinder Morgan in a research note on Friday, January 10th. They set a “sector perform” rating and a $26.00 price objective on the stock. UBS Group lifted their target price on Kinder Morgan from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Truist Financial boosted their target price on Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.64.

Insiders Place Their Bets

In other news, VP John W. Schlosser sold 75,461 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.65, for a total transaction of $2,011,035.65. Following the transaction, the vice president now owns 220,681 shares in the company, valued at approximately $5,881,148.65. This trade represents a 25.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $26.61, for a total transaction of $478,980.00. Following the completion of the sale, the president now directly owns 825,652 shares of the company’s stock, valued at approximately $21,970,599.72. This trade represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,461 shares of company stock worth $3,490,996 in the last ninety days. 12.64% of the stock is owned by company insiders.

Kinder Morgan Stock Performance

KMI stock opened at $28.80 on Wednesday. The firm has a market cap of $63.99 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 3.08 and a beta of 0.94. Kinder Morgan, Inc. has a twelve month low of $17.61 and a twelve month high of $31.48. The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 0.94. The business’s fifty day simple moving average is $27.57 and its two-hundred day simple moving average is $26.26.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings data on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share 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 8.09%. Analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.2875 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.15 annualized dividend and a yield of 3.99%. Kinder Morgan’s payout ratio is currently 98.29%.

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.