Synovus Financial Corp Buys 1,769 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Synovus Financial Corp boosted its stake in shares of Kinder Morgan, Inc. (NYSE:KMI) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 103,618 shares of the pipeline company’s stock after purchasing an additional 1,769 shares during the quarter. Synovus Financial Corp’s holdings in Kinder Morgan were worth $2,289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KMI. Northwest Investment Counselors LLC acquired a new position in Kinder Morgan in the third quarter valued at about $28,000. HWG Holdings LP acquired a new position in shares of Kinder Morgan in the 2nd quarter worth approximately $30,000. Planning Capital Management Corp grew its position in Kinder Morgan by 143.6% during the 3rd quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 797 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in Kinder Morgan during the 2nd quarter valued at $31,000. Finally, HM Payson & Co. raised its position in Kinder Morgan by 401.8% in the 3rd quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 1,145 shares during the last quarter. 62.52% of the stock is owned by institutional investors.

Kinder Morgan Stock Down 0.1 %

Shares of Kinder Morgan stock opened at $26.88 on Monday. Kinder Morgan, Inc. has a 12 month low of $16.47 and a 12 month high of $28.81. The business has a fifty day simple moving average of $26.17 and a 200 day simple moving average of $22.71. 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 stock has a market cap of $59.72 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 3.88 and a beta of 0.95.

Kinder Morgan (NYSE:KMI) last announced its quarterly earnings results on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Kinder Morgan had a net margin of 16.76% and a return on equity of 7.87%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue was down 5.3% compared to the same quarter last year. Research analysts predict that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend was Thursday, October 31st. Kinder Morgan’s dividend payout ratio (DPR) is 100.88%.

Insider Activity at Kinder Morgan

In related news, President Thomas A. Martin sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $27.34, for a total value of $492,120.00. Following the completion of the transaction, the president now directly owns 879,652 shares in the company, valued at approximately $24,049,685.68. The trade was a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director C Park Shaper sold 690,142 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the sale, the director now owns 6,809,858 shares in the company, valued at $168,543,985.50. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 727,263 shares of company stock worth $18,075,634 in the last quarter. Corporate insiders own 12.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on KMI. Wells Fargo & Company raised their target price on Kinder Morgan from $22.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Barclays boosted their target price on shares of Kinder Morgan from $22.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Bank of America assumed coverage on shares of Kinder Morgan in a research note on Thursday, October 17th. They set a “buy” rating and a $27.00 price target on the stock. Truist Financial boosted their price objective on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group increased their price objective on Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Kinder Morgan currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

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.