Fisher Funds Management LTD Acquires Shares of 2,280,613 Kinder Morgan, Inc. (NYSE:KMI)

Fisher Funds Management LTD bought a new position in shares of Kinder Morgan, Inc. (NYSE:KMI) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 2,280,613 shares of the pipeline company’s stock, valued at approximately $62,534,000. Kinder Morgan makes up 1.5% of Fisher Funds Management LTD’s holdings, making the stock its 21st largest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Retirement Wealth Solutions LLC purchased a new stake in Kinder Morgan in the 4th quarter worth $25,000. Centricity Wealth Management LLC purchased a new stake in shares of Kinder Morgan during the fourth quarter worth about $25,000. Modus Advisors LLC acquired a new position in shares of Kinder Morgan during the 4th quarter worth about $27,000. Heck Capital Advisors LLC purchased a new position in Kinder Morgan in the 4th quarter valued at about $29,000. Finally, Planning Capital Management Corp boosted its holdings in Kinder Morgan by 143.6% in the 3rd quarter. Planning Capital Management Corp now owns 1,352 shares of the pipeline company’s stock worth $30,000 after buying an additional 797 shares during the last quarter. Hedge funds and other institutional investors own 62.52% of the company’s stock.

Insider Activity

In related news, President Thomas A. Martin sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $27.91, for a total value of $502,380.00. Following the sale, the president now owns 861,652 shares of the company’s stock, valued at $24,048,707.32. This trade represents a 2.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John W. Schlosser sold 75,461 shares of the business’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 transaction of $2,011,035.65. Following the transaction, the vice president now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 129,461 shares of company stock worth $3,504,136. 12.64% of the stock is currently owned by company insiders.

Kinder Morgan Trading Down 0.7 %

Shares of KMI stock opened at $26.41 on Friday. Kinder Morgan, Inc. has a fifty-two week low of $17.02 and a fifty-two week high of $31.48. The company has a 50 day moving average price of $27.77 and a 200 day moving average price of $25.33. The stock has a market capitalization of $58.67 billion, a P/E ratio of 22.57, a price-to-earnings-growth 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 (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 return on equity of 8.09% and a net margin of 17.31%. Equities research analysts predict that Kinder Morgan, Inc. will post 1.25 EPS for the current fiscal year.

Kinder Morgan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 3rd were given a $0.2875 dividend. This represents a $1.15 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Monday, February 3rd. Kinder Morgan’s dividend payout ratio is currently 98.29%.

Analysts Set New Price Targets

A number of equities analysts have commented on KMI shares. Morgan Stanley increased their target price on Kinder Morgan from $24.00 to $36.00 in a report on Thursday, January 23rd. Citigroup increased their price objective on Kinder Morgan from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Truist Financial lifted their target price on shares of Kinder Morgan from $25.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group upped their target price on shares of Kinder Morgan from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company raised their price target on shares of Kinder Morgan from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Kinder Morgan has an average rating of “Moderate Buy” and a consensus target price of $29.14.

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.