59,991 Shares in Kinder Morgan, Inc. (NYSE:KMI) Acquired by Allstate Corp

Allstate Corp purchased a new position in shares of Kinder Morgan, Inc. (NYSE:KMI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 59,991 shares of the pipeline company’s stock, valued at approximately $1,644,000.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Kinder Morgan in the 4th quarter worth $917,523,000. Raymond James Financial Inc. purchased a new position in shares of Kinder Morgan in the 4th quarter worth about $157,804,000. Artisan Partners Limited Partnership acquired a new position in shares of Kinder Morgan in the 4th quarter valued at about $87,729,000. Amundi grew its holdings in shares of Kinder Morgan by 28.9% during the 4th quarter. Amundi now owns 11,819,777 shares of the pipeline company’s stock worth $334,381,000 after purchasing an additional 2,650,040 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in Kinder Morgan by 223.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,465,980 shares of the pipeline company’s stock worth $94,968,000 after purchasing an additional 2,395,930 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Kinder Morgan from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Scotiabank assumed coverage on Kinder Morgan in a report on Friday, January 10th. They issued a “sector perform” rating and a $26.00 price target for the company. Truist Financial boosted their price objective on Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Barclays upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 target price for the company in a research note on Monday, March 3rd. Finally, Mizuho upped their price target on Kinder Morgan from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.64.

Kinder Morgan Trading Up 0.6 %

KMI opened at $28.39 on Monday. Kinder Morgan, Inc. has a 12-month low of $17.61 and a 12-month high of $31.48. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.49 and a quick ratio of 0.39. The stock has a market capitalization of $63.07 billion, a PE ratio of 24.26, a P/E/G ratio of 3.08 and a beta of 0.94. The firm’s fifty day moving average price is $27.48 and its 200 day moving average price is $26.42.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). Kinder Morgan had a return on equity of 8.09% and a net margin of 17.31%. As a group, research analysts expect that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Monday, February 3rd. Kinder Morgan’s dividend payout ratio is currently 98.29%.

Insider Buying and Selling

In other news, President Thomas A. Martin sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $27.70, for a total value of $498,600.00. Following the transaction, the president now directly owns 843,652 shares in the company, valued at approximately $23,369,160.40. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John W. Schlosser sold 75,461 shares of the stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 129,461 shares of company stock worth $3,490,996 over the last ninety days. 12.64% of the stock is owned by insiders.

Kinder Morgan 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.