TrueMark Investments LLC Lowers Holdings in Kinder Morgan, Inc. (NYSE:KMI)

TrueMark Investments LLC reduced its holdings in shares of Kinder Morgan, Inc. (NYSE:KMI) by 39.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,250 shares of the pipeline company’s stock after selling 83,183 shares during the period. TrueMark Investments LLC’s holdings in Kinder Morgan were worth $3,432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KMI. Raymond James Financial Inc. purchased a new position in Kinder Morgan in the fourth quarter worth approximately $157,804,000. Amundi lifted its position in shares of Kinder Morgan by 28.9% during the 4th quarter. Amundi now owns 11,819,777 shares of the pipeline company’s stock worth $334,381,000 after purchasing an additional 2,650,040 shares during the last quarter. Barclays PLC grew its stake in shares of Kinder Morgan by 39.9% during the third 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. Fisher Funds Management LTD purchased a new position in Kinder Morgan in the fourth quarter valued at $62,534,000. Finally, National Bank of Canada FI raised its stake 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 valued at $64,879,000 after buying an additional 2,194,489 shares in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Kinder Morgan Stock Performance

Shares of NYSE:KMI opened at $28.80 on Wednesday. The business’s 50-day simple moving average is $27.57 and its 200 day simple moving average is $26.26. The company has a market cap of $63.99 billion, a P/E ratio of 24.62, a PEG ratio of 3.08 and a beta of 0.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.39 and a current ratio of 0.49. Kinder Morgan, Inc. has a one year low of $17.61 and a one year high of $31.48.

Kinder Morgan (NYSE:KMI) last issued its quarterly earnings results on Wednesday, January 22nd. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts forecast that Kinder Morgan, Inc. will post 1.25 earnings per share for the current fiscal year.

Kinder Morgan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.2875 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.15 annualized dividend and a yield of 3.99%. Kinder Morgan’s payout ratio is 98.29%.

Insider Transactions at Kinder Morgan

In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of Kinder Morgan stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $26.61, for a total value of $478,980.00. Following the completion of the transaction, the president now directly owns 825,652 shares in the company, valued at $21,970,599.72. The trade was a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John W. Schlosser sold 75,461 shares of the 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 sale, the vice president now owns 220,681 shares in the company, valued at $5,881,148.65. The trade was a 25.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,461 shares of company stock worth $3,490,996. 12.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. Morgan Stanley raised their price objective on Kinder Morgan from $24.00 to $36.00 in a report on Thursday, January 23rd. Royal Bank of Canada boosted their target price on Kinder Morgan from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Monday, March 3rd. Truist Financial raised their price target on Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Finally, Barclays upgraded Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price objective for the company in a research note on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.64.

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.