Resona Asset Management Co. Ltd. Invests $15.66 Million in Kinder Morgan, Inc. (NYSE:KMI)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Kinder Morgan, Inc. (NYSE:KMI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 572,223 shares of the pipeline company’s stock, valued at approximately $15,661,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Kinder Morgan by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 202,846,078 shares of the pipeline company’s stock worth $5,557,983,000 after acquiring an additional 1,469,759 shares in the last quarter. Geode Capital Management LLC increased its position in Kinder Morgan by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 51,759,844 shares of the pipeline company’s stock worth $1,414,813,000 after purchasing an additional 1,252,609 shares during the last quarter. Norges Bank acquired a new stake in shares of Kinder Morgan during the 4th quarter valued at about $917,523,000. Bank of New York Mellon Corp grew its stake 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 buying an additional 1,093,242 shares in the last quarter. Finally, Amundi raised its position in Kinder Morgan by 28.9% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Activity at Kinder Morgan

In other news, President Thomas A. Martin sold 18,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were 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 owns 825,652 shares in the company, valued at approximately $21,970,599.72. This represents a 2.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John W. Schlosser sold 75,461 shares of Kinder Morgan stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $26.65, for a total transaction of $2,011,035.65. Following the sale, the vice president now owns 220,681 shares in the company, valued at approximately $5,881,148.65. This trade represents a 25.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,461 shares of company stock worth $3,506,116. 12.81% of the stock is owned by corporate insiders.

Kinder Morgan Price Performance

NYSE:KMI opened at $25.27 on Friday. 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 stock has a market cap of $56.14 billion, a P/E ratio of 21.59, a PEG ratio of 3.08 and a beta of 0.94. The company has a fifty day moving average price of $27.20 and a 200 day moving average price of $26.61. Kinder Morgan, Inc. has a one year low of $17.61 and a one year high of $31.48.

Kinder Morgan (NYSE:KMI) last released its 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 net margin of 17.31% and a return on equity of 8.09%. Analysts anticipate that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd were given a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend was Monday, February 3rd. Kinder Morgan’s dividend payout ratio is presently 98.29%.

Wall Street Analyst Weigh In

KMI has been the topic of several analyst reports. Citigroup increased their price target on shares of Kinder Morgan from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their target price on Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. upped their price target on Kinder Morgan from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. UBS Group boosted their target price on Kinder Morgan from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Truist Financial increased their price target on Kinder Morgan from $25.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $29.64.

Kinder Morgan 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.