Assetmark Inc. Acquires 1,450 Shares of Kinder Morgan, Inc. (NYSE:KMI)

Assetmark Inc. boosted its position in shares of Kinder Morgan, Inc. (NYSE:KMI) by 50.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,313 shares of the pipeline company’s stock after acquiring an additional 1,450 shares during the period. Assetmark Inc.’s holdings in Kinder Morgan were worth $95,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in Kinder Morgan during the third quarter valued at approximately $28,000. HM Payson & Co. lifted its position in Kinder Morgan by 401.8% during the third quarter. HM Payson & Co. now owns 1,430 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 1,145 shares during the last quarter. HWG Holdings LP purchased a new stake in Kinder Morgan during the second quarter valued at approximately $30,000. ZRC Wealth Management LLC purchased a new stake in Kinder Morgan during the third quarter valued at approximately $36,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Kinder Morgan during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insiders Place Their Bets

In other news, Director C Park Shaper sold 690,142 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $24.75, for a total transaction of $17,081,014.50. Following the transaction, the director now owns 6,809,858 shares in the company, valued at $168,543,985.50. This trade represents a 9.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amy W. Chronis bought 2,241 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $24.89 per share, for a total transaction of $55,778.49. Following the transaction, the director now directly owns 23,995 shares in the company, valued at approximately $597,235.55. This represents a 10.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 12.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on KMI. JPMorgan Chase & Co. increased their target price on shares of Kinder Morgan from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their price target on shares of Kinder Morgan from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised their price target on shares of Kinder Morgan from $22.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Truist Financial raised their price target on shares of Kinder Morgan from $22.00 to $25.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Morgan Stanley set a $26.00 price target on shares of Kinder Morgan in a report on Friday, October 18th. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.36.

Kinder Morgan Stock Up 1.9 %

Shares of KMI stock opened at $27.27 on Monday. Kinder Morgan, Inc. has a twelve month low of $16.47 and a twelve month high of $27.58. The stock has a market cap of $60.58 billion, a P/E ratio of 23.92, a P/E/G ratio of 3.75 and a beta of 0.91. The stock has a 50 day moving average of $23.84 and a 200 day moving average of $21.50. The company has a current ratio of 0.46, a quick ratio of 0.35 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, October 16th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). Kinder Morgan had a return on equity of 7.87% and a net margin of 16.76%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. As a group, sell-side analysts expect that Kinder Morgan, Inc. will post 1.18 EPS for the current year.

Kinder Morgan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were given a $0.2875 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.15 annualized dividend and a yield of 4.22%. Kinder Morgan’s dividend payout ratio is presently 100.88%.

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.