Cullinan Associates Inc. Lowers Stake in Kinder Morgan, Inc. (NYSE:KMI)

Cullinan Associates Inc. cut its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 31.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,500 shares of the pipeline company’s stock after selling 4,837 shares during the quarter. Cullinan Associates Inc.’s holdings in Kinder Morgan were worth $288,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KMI. Barclays PLC lifted its stake in Kinder Morgan by 39.9% in the third quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock worth $180,833,000 after acquiring an additional 2,334,273 shares during the period. National Bank of Canada FI raised its holdings in Kinder Morgan by 295.5% in the third quarter. National Bank of Canada FI now owns 2,937,055 shares of the pipeline company’s stock worth $64,879,000 after purchasing an additional 2,194,489 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Kinder Morgan by 1,849.7% in the third quarter. International Assets Investment Management LLC now owns 2,164,637 shares of the pipeline company’s stock worth $47,817,000 after purchasing an additional 2,053,612 shares in the last quarter. Jennison Associates LLC raised its holdings in Kinder Morgan by 847.4% in the fourth quarter. Jennison Associates LLC now owns 1,475,187 shares of the pipeline company’s stock worth $40,420,000 after purchasing an additional 1,319,474 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Kinder Morgan by 295.2% in the third quarter. Retirement Systems of Alabama now owns 1,683,356 shares of the pipeline company’s stock worth $37,185,000 after purchasing an additional 1,257,428 shares in the last quarter. 62.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $27.91, for a total value of $502,380.00. Following the sale, the president now owns 861,652 shares in the company, valued at approximately $24,048,707.32. This represents a 2.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 12.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on KMI shares. Morgan Stanley boosted their target price on shares of Kinder Morgan from $24.00 to $36.00 in a report on Thursday, January 23rd. UBS Group boosted their target price on shares of Kinder Morgan from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Truist Financial boosted their target price on shares of Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their price objective 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. Finally, Citigroup upped their price objective on shares of Kinder Morgan from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. Nine 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.14.

Kinder Morgan Price Performance

Shares of NYSE:KMI opened at $27.53 on Wednesday. Kinder Morgan, Inc. has a twelve month low of $16.47 and a twelve month high of $31.48. The company’s 50 day moving average is $27.96 and its 200 day moving average is $24.80. The company has a current ratio of 0.49, a quick ratio of 0.35 and a debt-to-equity ratio of 0.94. The company has a market cap of $61.16 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 3.12 and a beta of 0.94.

Kinder Morgan (NYSE:KMI) last issued its quarterly 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 return on equity of 8.09% and a net margin of 17.31%. On average, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.28 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd will be given a $0.2875 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.15 annualized dividend and a yield of 4.18%. Kinder Morgan’s dividend payout ratio is presently 98.29%.

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.