Bank of Nova Scotia Has $35.59 Million Stock Position in Kinder Morgan, Inc. (NYSE:KMI)

Bank of Nova Scotia increased its position in Kinder Morgan, Inc. (NYSE:KMI) by 350.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,298,734 shares of the pipeline company’s stock after buying an additional 1,010,716 shares during the period. Bank of Nova Scotia owned 0.06% of Kinder Morgan worth $35,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new stake in shares of Kinder Morgan during the fourth quarter valued at approximately $25,000. Centricity Wealth Management LLC acquired a new position in Kinder Morgan during the fourth quarter worth $25,000. Hurley Capital LLC acquired a new position in shares of Kinder Morgan during the fourth quarter valued at about $25,000. Modus Advisors LLC bought a new stake in shares of Kinder Morgan during the fourth quarter worth about $27,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Kinder Morgan in the 4th quarter worth about $29,000. 62.52% of the stock is owned by institutional investors.

Kinder Morgan Price Performance

NYSE KMI opened at $25.20 on Wednesday. The company has a market cap of $55.98 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 3.08 and a beta of 0.72. The company has a quick ratio of 0.39, a current ratio of 0.49 and a debt-to-equity ratio of 0.94. The firm’s 50-day simple moving average is $27.07 and its two-hundred day simple moving average is $26.69. Kinder Morgan, Inc. has a 52 week low of $17.61 and a 52 week high of $31.48.

Kinder Morgan (NYSE:KMI) last released its quarterly earnings data on Wednesday, January 22nd. The pipeline company reported $0.32 earnings per share 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%. Research analysts predict that Kinder Morgan, Inc. will post 1.25 earnings per share for the current year.

Kinder Morgan Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 4.56%. The ex-dividend date was Monday, February 3rd. Kinder Morgan’s dividend payout ratio is presently 98.29%.

Insider Transactions at Kinder Morgan

In related news, VP John W. Schlosser sold 75,461 shares of Kinder Morgan stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $26.65, for a total transaction of $2,011,035.65. Following the completion of the sale, the vice president now owns 220,681 shares of the company’s stock, valued at approximately $5,881,148.65. This trade represents a 25.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Thomas A. Martin sold 18,000 shares of the company’s stock in a transaction dated 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 owns 825,652 shares in the company, valued at $21,970,599.72. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,461 shares of company stock valued at $3,506,116. 12.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on KMI shares. Royal Bank of Canada boosted their price objective on Kinder Morgan from $26.00 to $27.00 and gave the stock a “sector perform” rating in a report on Monday, March 3rd. Barclays raised Kinder Morgan from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a research report on Monday, March 3rd. Scotiabank initiated coverage on shares of Kinder Morgan in a report on Friday, January 10th. They set a “sector perform” rating and a $26.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Kinder Morgan from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Truist Financial upped their price objective on shares of Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Seven research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.64.

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.