Kinder Morgan (NYSE:KMI) Shares Down 0.9% – Here’s What Happened

Kinder Morgan, Inc. (NYSE:KMI) shares traded down 0.9% on Wednesday . The stock traded as low as $26.25 and last traded at $26.56. 3,261,970 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 15,760,294 shares. The stock had previously closed at $26.79.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KMI. Bank of America initiated coverage on shares of Kinder Morgan in a report on Thursday, October 17th. They issued a “buy” rating and a $27.00 price target for the company. Citigroup increased their price target on Kinder Morgan from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Morgan Stanley lifted their price objective on Kinder Morgan from $24.00 to $36.00 in a report on Thursday, January 23rd. Barclays increased their target price on Kinder Morgan from $27.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Finally, Truist Financial lifted their price target on shares of Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Kinder Morgan has an average rating of “Moderate Buy” and a consensus price target of $29.14.

Kinder Morgan Stock Down 1.7 %

The stock has a market capitalization of $58.51 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 3.16 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.49 and a quick ratio of 0.35. The firm has a 50-day moving average of $27.87 and a 200 day moving average of $25.04.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.23 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm 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 4.37%. The ex-dividend date is Monday, February 3rd. Kinder Morgan’s payout ratio is currently 98.29%.

Insiders Place Their Bets

In other news, President Thomas A. Martin sold 18,000 shares of the company’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 transaction, the president now owns 879,652 shares of the company’s stock, valued at approximately $24,049,685.68. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 54,000 shares of company stock valued at $1,493,100 over the last 90 days. 12.64% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

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.