Kinder Morgan, Inc. (NYSE:KMI) Director Michael C. Morgan Sells 230,000 Shares of Stock

Kinder Morgan, Inc. (NYSE:KMI) Director Michael C. Morgan sold 230,000 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $18.82, for a total transaction of $4,328,600.00. Following the transaction, the director now owns 345,087 shares of the company’s stock, valued at approximately $6,494,537.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kinder Morgan Stock Up 0.3 %

Kinder Morgan stock opened at $18.81 on Thursday. Kinder Morgan, Inc. has a twelve month low of $15.89 and a twelve month high of $18.92. The company has a 50 day moving average of $17.91 and a 200-day moving average of $17.45. The stock has a market capitalization of $41.75 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 5.30 and a beta of 0.90. The company has a quick ratio of 0.28, a current ratio of 0.50 and a debt-to-equity ratio of 0.95.

Kinder Morgan (NYSE:KMI) last announced its earnings results on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a net margin of 16.08% and a return on equity of 7.85%. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.2875 per share. This is a boost from Kinder Morgan’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, April 29th. This represents a $1.15 annualized dividend and a yield of 6.11%. Kinder Morgan’s dividend payout ratio is presently 102.73%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in Kinder Morgan by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,187,667 shares of the pipeline company’s stock worth $506,320,000 after purchasing an additional 317,980 shares during the last quarter. Norges Bank bought a new stake in Kinder Morgan during the fourth quarter worth $409,063,000. Northern Trust Corp raised its position in Kinder Morgan by 3.0% during the third quarter. Northern Trust Corp now owns 22,297,204 shares of the pipeline company’s stock worth $369,688,000 after acquiring an additional 639,467 shares in the last quarter. Invesco Ltd. raised its position in Kinder Morgan by 29.4% during the third quarter. Invesco Ltd. now owns 21,438,556 shares of the pipeline company’s stock worth $355,451,000 after acquiring an additional 4,870,444 shares in the last quarter. Finally, Morgan Stanley raised its position in Kinder Morgan by 4.1% during the third quarter. Morgan Stanley now owns 20,400,093 shares of the pipeline company’s stock worth $338,234,000 after acquiring an additional 796,829 shares in the last quarter. Institutional investors and hedge funds own 62.52% of the company’s stock.

Wall Street Analysts Forecast Growth

KMI has been the subject of a number of analyst reports. StockNews.com cut shares of Kinder Morgan from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Truist Financial reiterated a “hold” rating and issued a $20.00 price target (down previously from $22.00) on shares of Kinder Morgan in a report on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Kinder Morgan presently has an average rating of “Hold” and an average price target of $20.20.

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.