Grimes & Company Inc. Boosts Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Grimes & Company Inc. raised its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,858 shares of the pipeline company’s stock after purchasing an additional 448 shares during the period. Grimes & Company Inc.’s holdings in Kinder Morgan were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KMI. Kayne Anderson Capital Advisors LP increased its position in Kinder Morgan by 0.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 10,550,002 shares of the pipeline company’s stock worth $233,050,000 after buying an additional 69,307 shares in the last quarter. Barclays PLC increased its position in Kinder Morgan by 39.9% during the 3rd quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock worth $180,833,000 after purchasing an additional 2,334,273 shares in the last quarter. Bank of Montreal Can raised its stake in Kinder Morgan by 2.2% in the 3rd quarter. Bank of Montreal Can now owns 7,485,834 shares of the pipeline company’s stock valued at $163,116,000 after purchasing an additional 164,152 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Kinder Morgan by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,591,311 shares of the pipeline company’s stock valued at $101,422,000 after purchasing an additional 29,861 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Kinder Morgan by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,113,709 shares of the pipeline company’s stock worth $81,739,000 after purchasing an additional 83,111 shares during the last quarter. 62.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KMI has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on shares of Kinder Morgan from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Mizuho increased their price target on Kinder Morgan from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday. Scotiabank began coverage on Kinder Morgan in a report on Friday, January 10th. They set a “sector perform” rating and a $26.00 price objective on the stock. Wells Fargo & Company raised their price objective on Kinder Morgan from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Truist Financial raised their price objective on Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Kinder Morgan currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.92.

Kinder Morgan Stock Performance

NYSE:KMI opened at $30.23 on Monday. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $67.16 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 4.13 and a beta of 0.94. The firm’s fifty day simple moving average is $28.03 and its 200 day simple moving average is $24.47. Kinder Morgan, Inc. has a twelve month low of $16.47 and a twelve month high of $31.48.

Kinder Morgan (NYSE:KMI) last announced its 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 net margin of 17.31% and a return on equity of 8.10%. As a group, equities research analysts expect that Kinder Morgan, Inc. will post 1.27 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 3rd will be issued a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Monday, February 3rd. Kinder Morgan’s payout ratio is 98.29%.

Insider Activity at Kinder Morgan

In related news, President Thomas A. Martin sold 19,121 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $26.28, for a total value of $502,499.88. Following the completion of the transaction, the president now owns 897,652 shares of the company’s stock, valued at approximately $23,590,294.56. This represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Amy W. Chronis purchased 2,241 shares of Kinder Morgan stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average cost of $24.89 per share, with a total value of $55,778.49. Following the acquisition, the director now directly owns 23,995 shares of the company’s stock, valued at $597,235.55. The trade was a 10.30 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 55,121 shares of company stock valued at $1,497,000. Corporate insiders own 12.64% of the company’s stock.

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.