Thoroughbred Financial Services LLC Lowers Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Thoroughbred Financial Services LLC trimmed its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,603 shares of the pipeline company’s stock after selling 3,745 shares during the period. Thoroughbred Financial Services LLC’s holdings in Kinder Morgan were worth $1,222,000 at the end of the most recent reporting period.

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

Kinder Morgan Stock Down 8.9 %

KMI opened at $25.27 on Friday. Kinder Morgan, Inc. has a 12 month low of $17.61 and a 12 month high of $31.48. The business has a 50-day moving average of $27.20 and a two-hundred day moving average of $26.61. 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 $56.14 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last released its earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share (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 8.09%. On average, research analysts expect that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a dividend of $0.2875 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.15 dividend on an annualized basis and a yield of 4.55%. Kinder Morgan’s dividend payout ratio (DPR) is 98.29%.

Insiders Place Their Bets

In other news, VP John W. Schlosser sold 75,461 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $26.65, for a total value of $2,011,035.65. Following the completion of the sale, the vice president now owns 220,681 shares of the company’s stock, valued at $5,881,148.65. This represents a 25.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $27.70, for a total value of $498,600.00. Following the completion of the transaction, the president now owns 843,652 shares of the company’s stock, valued at approximately $23,369,160.40. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 129,461 shares of company stock worth $3,506,116 over the last ninety days. 12.81% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.