Synovus Financial Corp Reduces Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Synovus Financial Corp cut its stake in Kinder Morgan, Inc. (NYSE:KMI) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,592 shares of the pipeline company’s stock after selling 8,026 shares during the period. Synovus Financial Corp’s holdings in Kinder Morgan were worth $2,620,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hurley Capital LLC purchased a new position in Kinder Morgan during the 4th quarter worth approximately $25,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Kinder Morgan in the fourth quarter valued at approximately $25,000. Centricity Wealth Management LLC purchased a new position in shares of Kinder Morgan during the fourth quarter worth approximately $25,000. Modus Advisors LLC purchased a new stake in Kinder Morgan in the 4th quarter valued at $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in Kinder Morgan during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KMI shares. Wells Fargo & Company upped their target price 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. Mizuho upped their price objective on Kinder Morgan from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Truist Financial lifted their target price on Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. upped their price target on Kinder Morgan from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Finally, Citigroup lifted their price objective on shares of Kinder Morgan from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Kinder Morgan has an average rating of “Moderate Buy” and an average target price of $29.64.

Insider Buying and Selling at Kinder Morgan

In related news, VP John W. Schlosser sold 75,461 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 220,681 shares of the company’s stock, valued at approximately $5,881,148.65. This represents a 25.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Thomas A. Martin sold 18,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $26.61, for a total value of $478,980.00. Following the transaction, the president now directly owns 825,652 shares of the company’s stock, valued at $21,970,599.72. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,461 shares of company stock valued at $3,506,116 over the last quarter. Corporate insiders own 12.64% of the company’s stock.

Kinder Morgan Price Performance

Shares of NYSE:KMI opened at $26.80 on Tuesday. The firm has a market capitalization of $59.55 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 3.08 and a beta of 0.72. 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 business’s 50 day simple moving average is $26.93 and its 200-day simple moving average is $26.84. Kinder Morgan, Inc. has a 12 month low of $17.61 and a 12 month high of $31.48.

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

Kinder Morgan Announces Dividend

The firm also recently announced 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. This represents a $1.15 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Monday, February 3rd. Kinder Morgan’s payout ratio is currently 98.29%.

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.