Kinder Morgan, Inc. (NYSE:KMI) Holdings Cut by Truist Financial Corp

Truist Financial Corp lowered its holdings in Kinder Morgan, Inc. (NYSE:KMI) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,492,289 shares of the pipeline company’s stock after selling 193,262 shares during the period. Truist Financial Corp owned about 0.07% of Kinder Morgan worth $26,324,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Tucker Asset Management LLC bought a new position in Kinder Morgan in the third quarter worth about $25,000. Hartford Financial Management Inc. bought a new position in Kinder Morgan in the third quarter worth about $26,000. Activest Wealth Management bought a new position in Kinder Morgan in the fourth quarter worth about $30,000. Rakuten Securities Inc. bought a new position in Kinder Morgan in the fourth quarter worth about $33,000. Finally, OFI Invest Asset Management bought a new position in Kinder Morgan in the third quarter worth about $33,000. Institutional investors own 62.52% of the company’s stock.

Kinder Morgan Price Performance

NYSE KMI opened at $18.60 on Tuesday. Kinder Morgan, Inc. has a 12 month low of $15.89 and a 12 month high of $18.92. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.50 and a quick ratio of 0.38. The firm has a market capitalization of $41.28 billion, a PE ratio of 16.91, a P/E/G ratio of 5.28 and a beta of 0.90. The company’s 50 day simple moving average is $18.01 and its 200 day simple moving average is $17.49.

Kinder Morgan (NYSE:KMI) last posted its quarterly earnings data on Wednesday, April 17th. The pipeline company reported $0.34 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Kinder Morgan, Inc. will post 1.18 EPS for the current fiscal year.

Kinder Morgan Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date of this dividend is Monday, April 29th. This is a positive change from Kinder Morgan’s previous quarterly dividend of $0.28. Kinder Morgan’s dividend payout ratio (DPR) is currently 102.73%.

Wall Street Analyst Weigh In

Several brokerages have commented on KMI. StockNews.com lowered shares of Kinder Morgan from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Truist Financial restated a “hold” rating and issued a $20.00 price target (down previously from $22.00) on shares of Kinder Morgan in a research note on Monday, March 25th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.20.

Insider Activity at Kinder Morgan

In related news, Director Michael C. Morgan sold 230,000 shares of the firm’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 in the company, valued at $6,494,537.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.81% of the company’s stock.

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.