Avantax Advisory Services Inc. Cuts Holdings in Kinder Morgan, Inc. (NYSE:KMI)

Avantax Advisory Services Inc. lowered its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 24.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 91,099 shares of the pipeline company’s stock after selling 28,859 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Kinder Morgan were worth $2,496,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in shares of Kinder Morgan by 8.6% in the 4th quarter. Bank of New York Mellon Corp now owns 13,734,753 shares of the pipeline company’s stock valued at $376,332,000 after acquiring an additional 1,093,242 shares during the last quarter. Amundi increased its holdings in shares of Kinder Morgan by 28.9% in the 4th quarter. Amundi now owns 11,819,777 shares of the pipeline company’s stock valued at $334,381,000 after acquiring an additional 2,650,040 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of Kinder Morgan by 0.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 10,550,002 shares of the pipeline company’s stock valued at $233,050,000 after acquiring an additional 69,307 shares during the last quarter. Barclays PLC increased its holdings in shares of Kinder Morgan by 39.9% in the 3rd quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company’s stock valued at $180,833,000 after acquiring an additional 2,334,273 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of 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 acquiring an additional 164,152 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Truist Financial upped their target price on Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. upped their target price on Kinder Morgan from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. Wells Fargo & Company upped their target price on Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. UBS Group upped their target price on Kinder Morgan from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, The Goldman Sachs Group increased their price objective on Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.64.

Kinder Morgan Stock Up 2.1 %

KMI opened at $27.11 on Monday. 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 has a 50 day simple moving average of $27.60 and a 200-day simple moving average of $25.94. The stock has a market capitalization of $60.23 billion, a P/E ratio of 23.17, a P/E/G ratio of 3.08 and a beta of 0.94. Kinder Morgan, Inc. has a 12 month low of $17.52 and a 12 month high of $31.48.

Kinder Morgan (NYSE:KMI) last posted its quarterly 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 8.09%. On average, equities analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 3rd were paid a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Monday, February 3rd. Kinder Morgan’s payout ratio is currently 98.29%.

Insider Activity at Kinder Morgan

In related news, VP John W. Schlosser sold 75,461 shares of the firm’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 completion of the transaction, the vice president now directly owns 220,681 shares of the company’s stock, valued at $5,881,148.65. This trade represents a 25.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Thomas A. Martin sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $27.70, for a total value of $498,600.00. Following the completion of the transaction, the president now directly owns 843,652 shares of the company’s stock, valued at $23,369,160.40. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,461 shares of company stock valued at $3,490,996 in the last ninety days. 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.